ATP Oil & Gas Corp (ATPG): Long ATP Oil & Gas (ATPG), is an independent oil and gas company with its principal assets based in the Gulf of Mexico and the North Sea (UK waters) ATP is sitting on its 52-week low list ($3.49), down a whopping 90% for the year from its all-time high of $58 per share reached back on November 1st 2007. ATP is trading with a forward P/E of 4.47 and EV/EBITDA of 2.684. From 2005 to 2007 ATP has seen a compound annual growth rate (CAGR) of 79%, as its natural gas reveres have gone from 20 billion of cubic feet equivalent (Bcfe) to a whopping 64 billion of cubic feet equivalent. Recently, ATP sold a 10% stake in its Gomez Hub for $82 million dollars. This percentage sold comprises of 0.8% of ATP’s proved reserves and 0.5% of ATP’s proved and probable reserves. Thus, it is safe to deduce that ATP’s proved reserves are worth about $10.250Billion, and given ATP’s 98% success rate in converting non-producing properties to producing status, proved and probable reserves could be worth north of $15 billion. Let’s go to the operations: Production has gone from 1MBoe/d in 1997 to 12 MBoe/d in 2002 to 38.5 MBoe/d in 2008--As proved reserves went from 12MMboe in 97’ to 40 MBoe/d in 2002 to 110 MBoe/d in 2007. The bulk of their reserves are broken down into 2 main areas: the North Sea and Gulf of Mexico, with their principal assets focused in the following hubs (please note, these are internal names) “Cheviot” 22%, “Telemark Hub” 22%, “Gomez” 15%, “Tors” 11%,“GOM Shelf” 11%, “Canyon Express” 10%, and Other 9%. Important Operating Statistics: Production (MMBoe) has gone up 186% from 2004 to 2007. Revenue ($MM) went from $116MM in 2004 to $608MM in 2007, a 424% increase. EBITDAX ($MM) went from $79MM in 2004 to $511MM in 2007, a 543% increase. Discretionary cash flow ($MM), went from $57MM in 2004 to $382MM in 2007, a 578% increase. Production growth is up 31% year over year and even faster growth is projected in the future. Management currently owns north of 22% of the company they tend to be bullish on the company’s outlook during the conference call. There have been some concerns regarding the amount of debt within ATPG’s capital structure ($1.2 billion) but $1.05 billion is due in 2014. They paid back $274 million of a $550 million dollar agreement, leaving ATPG with $327 million to pay in 2011. On Friday, ATP signed a $150 million dollar investment with GE Energy Financial Services in which GE will get a 49% limited partnership in a floating oil and gas production facility. I can see this stock going from $3 to $7 in a short-order. Also a 10% buyback is in place till 2010

Vision China Media (VISN): Long ahead of earnings. This interesting Chinese media company has $140 million dollars in cash, no debt, and quarterly revenue growth of 285%. Vision positively positioned to capture the growing demographic trend in China from printed media to advertised media as advertising in China is expected to grow at a 28% compounded annual growth rate in 2009, with total media advertising revenues going from just $3.9 billion in 2006 to over $29.4 billion in 2007. Vision China could move 20% higher based on its strong balance sheet, position as one of the leaders in media advertising, and oversold condition.

Transocean (RIG): General short. This is a controversial idea, but given the weakness in the rail stocks, particularly CSX Corp (CSX), Burlington Northern (BNI), and Union Pacific (UNP) one seriously has to question the viability of the short-term rise in oil. Additional the recent breakdown technically of Exxon Mobil (XOM) under $70 does indeed cause some concern for all oil stocks going forward.

MasTec (MTZ) As of 2008, 60% of MasTec’s revenue came from the communication sector; this involves contracts with such companies as AT&T (T) and Charter Communications (CHTR). Utilities represented 34% of revenue; contacts included deals with such companies as XTO Energy (XTO). For the full year 2008, MasTec is on track to report revenues of $1.21 billion to $1.23 billion, a nearly 18% increase from its 2007 earnings. More important, earnings which will come in for the full year 2008 in the range of 88 cents to 92 cents, up 35% for the year. MasTec has a backlog, an important figurer when analyzing construction companies, of around 18 months deep, with a total value of $1.5 billion dollars.

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