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ATP Q1 Cash Position Much Better Than Expected

ATP presentation slides on their website today for a presentation tomorrow. Have a look at page 12. Monetization tranche debt at the end of Jan $146mil vs $161mil. That means that the $155mil that they received for the Gomez sale didn't have to have 75% of it go to debt repayment.

http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzcwOTIyfENoaWxkSUQ9MzY3ODIxfFR5cGU9MQ==&t=1

If you go to page 32 of the credit suisse presentation that they did it shows that they had $119mil cash at Dec 31, 2009.

http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzY3NzA2fENoaWxkSUQ9MzYzMjI5fFR5cGU9MQ==&t=1

So that means that they had $119mil plus likely $140mil from the Gomez sale of available liquidity for Q1. And cash available pre Titan sale and pre Telemark production increase (which is about to happen) was one last concern for me.

Also positive on the liquidity front is that the Atwater 63 well was drilled using the NPI program.

All adds up to much better cash position than I expected.   It's been a long wait, but I believe this share price is about to move much, much higher.