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The Company is engaged in the acquisition, development and production of natural gas and oil properties in the Gulf of Mexico and the U.K. and Dutch Sectors of the North Sea.
Lots of insider selling going on, no idea why. Don't care; if they're out I'm out.http://www.gurufocus.com/news.php?id=81165
lol, they may have sold some, but insiders still own 16-17% of the company. If they're in, I'm in. :)
Well, if he owns 10% of the company, that means he has 5,121,000 shares. If he sold 443,289 shares, then he liquidated 8.67% of his position. We do not know what else he has in his portfolio. It may be he sold the shares to balance his ATPG against other holdings. I believe he will have to disclose his reasons for selling to the SEC, so we will know reasonably soon. There's something else you should know, as well: the CEO of ATPG recently signed a new contract which gives him three years salary and benefits if the company is acquired. I'm not sure I see a downside to this. ATPG's savvy, innovative management team has an average of 20 years experience and the ability to do things no other underwater driller has done before. They have put all their chips on the table; they are now all in. Either a) the company will take off and become a cash cow, or b) it will be acquired by a competitor, in which case we will own shares in a different comany with some bold new assets. But then, I love a gamble.
ATPG used to roll along at $40/share. Are those days gone? Do you think they'll get back there and how soon?
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