Replies to post #118 on ATPG Senior 11.875% 2nd Lien Bonds (fka ATPG.GE)

[romang]

The orri money of 500 million is that actual cash owed like the dip is owed or is that future money owed as they pump oil

[56Chevy]

Tough question.. but I have always considered that ORRI's & NPI's would come ahead of us, or at the very least would be with us, to avoid a negative surprise later.

Of course any back of the napkin recovery estimates on 2nd liens were done relying on reported assets were, at minimum, $2B...not $3B...which after DIP & ORRI/NPI would leave 2nd liens approx $750M or .50 cents on the dollar.

IF - the debtors' filed and declared assets were within a reasonable margin + or -.