ATP Apparent High Bidder on Gulf of Mexico Lease Block.HOUSTON -- ATP ATP: see adenosine triphosphate. ATP in full adenosine triphosphate Organic compound, substrate in many enzyme-catalyzed reactions (see catalysis) in the cells of animals, plants, and microorganisms. Oil & Gas Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATPG ATPG Automatic Test Pattern Generation ATPG Automatic Test Program Generator ) today announced it was the apparent high bidder out of three bids submitted to the Minerals Management Service (MMS (Multimedia Messaging Service) An enhanced transmission service that enables graphics, video clips and sound files to be transmitted via cellphones. Developed as part of the 3GPP project, MMS phones are generally backward compatible with SMS and EMS. ) on Green Canyon Block 37 at the Central Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east (GOM) Offshore Lease Sale held on March 15, 2006 in New Orleans. If the block is awarded, ATP's financial outlay will be $3.3 million with the Company owning a 100% working interest and serving as operator of the property. "ATP continues to follow a consistent strategy of acquiring for development properties that have already shown a presence of hydrocarbons. Green Canyon 37 was originally drilled in 1996 and logged both gas and oil pay sands, but was not taken to development during a period of relatively low oil and gas prices. We are currently evaluating these sands and potentially other horizons on the block. The block is located in approximately 1,800 feet of water and, if awarded, will be added to our three-year development plan," said Gerald W. Schlief, ATP's Senior Vice President. About ATP Oil & Gas Corporation ATP Oil & Gas is a development and production company of natural gas and oil in the Gulf of Mexico and the North Sea. The company trades publicly as ATPG on the NASDAQ National Market. Forward-looking Statements Certain statements included in this news release are "forward-looking statements" under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. ATP cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those ATP expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and other legal or regulatory developments affecting our business. More information about the risks and uncertainties relating to ATP's forward-looking statements are found in our SEC filings. |
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