Replies to post #24 on ATP Oil & Gas Pref Shares fka ATPGQ

[56Chevy]

How many preferred shares are there?

1.5MM
http://www.sec.gov/Archives/edgar/data/1123647/000119312511167908/d424b5.htm

Any down side to investing in preferred.

Pure speculative play at this point. Bonds are still 10 cents on the dollar ..so yes there is a substantial risk on holding Preferred.
Another consideration that hasn't been discussed much is the outcome of the Adversary Proceedings. We don't know yet where ORRI's & NPI's fall as to absolute priority. Their claim(s) could be a problem for all classes below DIP lenders.

[seismic]

From the last 10K filed with the SEC, page 30.

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
“Our authorized capital stock consists of 100,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share. There were 52,051,422 shares of common stock and 3,105,000 shares of 8% convertible perpetual preferred stock outstanding as of March 2, 2012. “

Also note from the same filing;

“The number of holders of our common stock and 8% convertible perpetual preferred stock as of March 8, 2012 is 12,321 and 556, respectively.”