56Chevy….. Thanks for your post. Don’t recall saying “I have $3 billion dollars’ worth of what would have to be privileged material information”, as I don’t.
Did say I do have DD that would suggest the BP claim “maybe just maybe” will be paid to ATP.
My DD is all public record, no inside information, don’t have any and don’t want any; as we all know that would be illegal, and quite frankly no challenge. I also have no need and or desire to report false and misleading information; to line one’s pockets with dollars.
So let’s start with public record court filing #1575, item nine, “While it is possible that BP will pay the amount asserted in the OPA Claim”, don’t you think that DD “public record” might be a “maybe just maybe” and not “fools gold” as some have suggested? … public record… “it is possible that BP will pay the amount asserted in the OPA Claim”; what is that claim $3.01 billion.
I don’t believe the professionals that developed the claim number (3 billion), just picked a number out of the sky, but have documentation to support that figure. With what these folks are getting paid they better have their ducks in a row. Why is it so easy to believe ATP’s claim is not worth $3 billion dollars and they won’t be successful in proving that claim and collecting the money? Fool’s gold!
Public record, Dow Jones news wire, “To date BP has spent a total of $37.2 billion pre-tax, which is equivalent to $26.1 billion after tax, on costs arising from the 2010 disaster.” Somebody got paid, but ATP won’t. Why is so easy to believe ATP won’t get paid, fool’s gold or maybe just maybe?
Public record, Dow Jones news wire, “Although BP's financial results weakened in 2012, additional divestment proceeds should allow the company to absorb cumulative costs of up to $40 billion after tax, and retain its A2 rating, the agency said in a report.” Moody’s.
Don’t you think maybe just maybe BP has the dollars to clean this mess up; “should allow the company to absorb cumulative costs of up to $40 billion after tax, and retain its A2 rating”
Does anyone think BP sees the value of retaining its A2 rating and they can spend $40 billion after tax dollars to do so? Why is it so easy to believe ATP won’t get paid, fool’s gold or maybe just maybe?
And my favorite;
Public record, Dow Jones news wire, “BP PLC has headroom of around $14 billion after tax credits to cover Clean Water Act fines as well as other claims and litigation costs stemming from its April 2010 Deepwater Horizon disaster in the U.S. Gulf that aren't payable from its $20 billion trust fund, ratings agency Moody's said”. Why is it so easy to believe ATP won’t get paid, fool’s gold or maybe just maybe.
Can you imagine with $26.1 billion after tax dollars being spent thus far by BP, with headroom up to $40 billion after tax dollars that could be spent, before it affects BP’s A2 credit rating. Why is it so easy to believe ATP won’t get paid? That would be like BP getting out of this thing with a slap on the hand.
So now, with this limited shared DD, does anyone else think that “maybe just maybe” ATP’s BP claim will be paid?
Do you think those professionals that developed that claim number of $3,011,534,889.00 have the documentation to support that figure?
Do you think the court would authorize the expenditure to chase fool’s gold?
Do you think BP doesn’t have the money to pay ATP’s claim.
Fool’s gold or maybe just maybe!
And if you have a desire for more BP DD;
Public record, “BP has a pipeline of around 45 potential high-quality upstream projects it can develop during the rest of this decade. Of these, BP is particularly focusing on four areas--the Gulf of Mexico, Angola, Azerbaijan and the North Sea, BP Chief Executive Bob Dudley told shareholders at the annual general meeting.”
If you have an interest, check out the rest of Bob Dudley comments made at the annual general meeting. You should be able to find them on your own. I like the Gulf of Mexico parts. Maybe just maybe, if BP has the money which they do, it would be beneficial to make peace in the GOM as the public record says BP is particularly focusing on four areas--the Gulf of Mexico is one of those four.
And now the comment, “If playing Ihub small ball is your game..go for it.”
OK….
Don’t recall saying anything about “playing Ihub small ball”, I will say my investment in ATP will not meet the “Substantial Shareholder” definition; as defined by the court.
After a dialog we had months ago, I did sell my common and purchased bonds. I have no interest in selling my preferred as they were too hard to come by at the price I paid. I do plan on continuing to build my position in preferred shares. Have been buying the bonds as they got cheaper and currently on the dips, but have enough now to cover my preferred investment and make a few bucks if the bonds get paid at least twenty cents on the dollar, face value and the preferred gets nothing.
I do think there is more upside to the preferred, if they get paid. Today I can buy the bonds at $6.13 per hundred / $61.30 per thousand in value, the last time I looked. A ten thousand dollar investment would net around 163 bonds with a face value of $1K each, $163K in value, plus interest, for $10K.
If you believe like I do, there is a good chance the preferred will be paid, last price was $.98, if you could buy the preferred at $.98; a ten thousand dollar investment would net around 10,200 shares, face value $100 each, $1.02M in value, plus interest for $10K.
Big difference between $163K in value and $1.02M in value! If you have a budget of $50,000, for a total ATP investment, you could see a monster return.
I like to play it as safe as possible so I hedge using the bonds at 20% of their face value to cover my total ATP investment. If I end up losing my investment, I don’t buy the new BMW next year.
I guess if this is called “Ihub small ball”, I can live with that.
News 
Market Data 
Discover 
