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 > News out - imo real good news

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Comment by cahclickon May 10, 2021 9:03am

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Post# 33163780

RE:RE:RE:RE:News out - imo real good news

i guess it's their terminology that miffs me.

The 24 million is tagged as "Cash flow from investing"

thanks for responding again

glta

Chris007 wrote:

It's not that complicated...they spent more cash on capex in Q1 than they brought in from operations

Cash flow from operations 1,138
cash flow from financing (698)
Cash flow from investing (24,913)
fx changes 393

cahclick wrote:

I still can't figure out why Unrestricted cash dropped from $165 million (end of 2020) to $141 million (end of 2021 Q1)

glta

filefish wrote: There is no change to the Company’s unrestricted cash balance that is expected to grow from $141 million

Does this mean that unrestricted cash balance dropped from 141mil to 124mil from 3/31/21 to 5/7/21 . How can that be?

2021Gamble wrote:
Athabasca Oil Corporation Announces Further Hangingstone Cost Reductions

T.ATH | 39 minutes ago

CALGARY, Alberta, May 10, 2021 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to announce that it has executed an amending Hangingstone Transportation and Storage Services Agreement (“TSSA”) that resulted in a $44 million prepayment from restricted cash and a ~$5 million reduction to annual tolls. The amended TSSA reduces Hangingstone’s dilbit financial assurances by ~$44 million to ~$27 million. The reduction in financial assurances unlocked restricted cash on the Company’s balance sheet that was concurrently used to fund the amending prepayment. There is no change to the Company’s unrestricted cash balance that is expected to grow from $141 million at March 31, 2021 to ~$210 million at year-end (US$60 WTI & US$11 WCS differentials). The transaction is effective as of May 7, 2021 and the deal is now closed.

As previously released with the Company’s first quarter results, Athabasca executed a commercial arrangement with an industry leading marketing company to construct a truck-in terminal at no cost to Athabasca. Operations are expected to commence in July with up to 5,000 bbl/d of third party truck-in capacity. The additional volumes are expected to generate up to $5 million in annual savings through a processing fee and by leveraging existing volume commitments under Athabasca’s transportation agreements.

Inclusive of both transactions, Hangingstone’s cost structure is expected to be reduced by up to $10 million annually. Hangingstone now has improved resiliency and profitability with an estimated US$31.50/bbl WCS operating break-even. The Company’s corporate operating break-even is approximately US$43/bbl WTI (US$11 WCS heavy differentials) including these transactions.