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

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Post by filefishon Oct 07, 2021 5:34pm

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Post# 33985442

Wholeistic financing?

The way I see it they are retiring net debt of US $100mil or about $C125 mil
They will have about $C280 mil in cash on hand at the time of the closing..
Question: why do they feel the necessity to hold about $150mil in cash on the books after this transaction? They can easily finance their planned CAPEX for next year with cash flow from operations and the new RBL credit line. Why does this Company always think it needs to keep excess cash on hand.?

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Geologica Resource: Polymetallic upside at a depressed price