Athabasca Oil Corp T.ATH

Alternate Symbol(s): ATHOF

Energy Oil & Gas E&P

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. It also consists of two operating oil sands steam assisted gravity drainage projects and a resource base of exploration areas in the Athabasca region of northeastern Alberta. The Light Oil segment includes its assets, liabilities and operating results for the exploration, development and production of light crude oil and medium crude oil, tight oil and conventional natural gas. Its Light Oil segment consists exclusively of the Duvernay in the Greater Kaybob area with about 155,000 gross acres across Kaybob West, Kaybob North, Kaybob East and Two Creeks.

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Athabasca Oil Corp > Nuttall Details

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Comment by Maxmoeon May 02, 2021 4:37pm

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Post# 33111242

RE:RE:RE:RE:RE:RE:Nuttall Details

Another way to look at this, and I'm pretty sure it's how Eric looks at this, is he manages a long only energy fund. He is paid to be fully invested, or close to it, all the time. If investors want to make less of a "bet" they can take money out but Eric's job is to always make the best RELATIVE bet he can. If he's a screaming bull like he has been the last year, he looks for the highest operating and financial leverage he can. The biggest bang for the buck. That's usually the small caps. When he's worried about valuation and the risk of big redemptions, he looks for the best liquidity and the lowest volatility. The large caps like SU and CNQ. Which he has owned. When oil crashes like 2020, they all get crushed and he's just in survival mode and funding the redemptions. The more he sells, the lower they go, and the lower they go the more redemptions he gets. It's a nasty circle. That's exactly what happened. Fast forward and he's the ONLY long only mutual fund manager in Canada so he's getting investors buying his fund every day. He keeps buying his top ten holdings so the same circle now reverses and becomes self fulfilling to the upside. TA DA! That's today. As more and more investors recognize the upside the pendulum swings the other way and young Eric has the best performing fund in Canada with big cash flows coming in and the trophy for fund manager of the year. And then we all sell! Or just brag about how rich and smart we are. No thanks to Eric. LOL.

Chris007 wrote:
to be fair, I guess he kinda had to, seeing as running a long only energy mutual fund is his bread and butter (first at Sprott, then at Ninepoint)...to do that, I guess you gotta be kind of an oil permabull. That being said, credit where credit due, the man knows how to pick energy stocks in an up market.

That aside, I do recall him for a time running a small cap fund (non energy), or at least taking calls on market call, on non-energy small caps, sometime between 2014 and 2018. I guess that gig was a lot less successful for him.

retiredcf wrote:

CLOUDER wrote: WOW, nuttall is listend to again, wow.

Say what you will about Nuttall, when energy stocks were in the toilet, he kept showing up and taking his lumps.

And the reason that people are now listening to him might have something to do with the fact that his fund is up over 70% this year. GLTA