ATP Oil and Gas

"ATP Oil & Gas Corporation (“ATP”), incorporated in 1991, is a publicly traded (NASDAQ: ATPG) company engaged in the acquisition, development and production of natural gas and oil properties in the Gulf of Mexico and the North Sea. ATP acquires and develops properties, many of which have proved undeveloped reserves (“PUD’s”) at the time of acquisition that are economically attractive to ATP, but not strategic to exploration-oriented oil and gas companies. Such strategy provides ATP with the assets to develop and produce without the risk, cost and time involved in traditional exploration. Since its inception in 1991, the company has had an exceptionally strong development success record of 98% of taking projects to production that were previously undeveloped and non-producing. ATP is headquartered in Houston, Texas, with additional offices in Guildford, Surrey (U.K.) and IJmuiden (Netherlands)"

Market value(12/06/2009) $296.79 million

Revenues 2008: $618.03 million 2007: $607.94 million 2006: $419.82 milllion 2005: $146.67 million 2004: $116.12 million

Income from operations 2008: $204.11 million 2007: $161.68 million 2006:$105.27 million million 2005:$29.09 million 2004:$28.22 million

Cash provided by operating activities 2008: $546.96 million 2007:$329.38 million 2006: $258.51 million

EPS 2008: $3.39 2007: $1.55 2006: $-1.33 2005: $-0.43 2004: $0.05

Balance sheet(31/03/2009)

Assets
Current $265.80 million
Total 2,287.43 million

Liabilities
Current $249.85 million
Total $1,825.68 million

Equity $461.74 million

P/B 0.65

Equity per share at year-end 2008:$8.80 2007:$8.67 2006:$1.16 2005:$7.33

Reserves 2008: 713,620 MMcfe(liquids 54%, natural gas 46%) 2007: 724,550 MMcfe(liquids 51%,natural gas 49%) 2006: 636,840 MMcfe(liquids 48%, natural gas 52%) 2005: 527,100 MMcfe(liquids 33%, natural gas 67%)

Undeloped acreage 149 450 net acres

Annual production 2008: 57,464 MMcfe 2007: 64,001 MMcfe 2006: 50,862 MMcfe

Major transactions 2009: GE FPO partnership/sale/$100 million 2008: Tors(North Sea) sale/$430 mllion

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