ATPG: Monetization of Titan
Today the company announced the event that shareholders of ATP had been waiting on. Devon Shire has listed the key points from the agreement to monetize Titan. This should take away some of the risks associated with the capital concerns for the company.
One of the disappointing news from today’s announcement was the second well at Telemark will take another 3-4 weeks to start producing. The management has been disastrous in being optimistic on the launch date for the second well and then continuously missing the deadline. I don’t understand why management doesn’t get conservative for once and just give a very conservative timeline that the company has a strong chance of achieving.