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 smallcaptdron Apr 13, 2023 12:27pm

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Post# 35393247

He who giveth taketh away in Oil...

Oil has been heading lower since yesterday $83.40 but it's hard to notice with the few peaks higher but it is rolling over. Oil also hit resistance at $83.50 so take note that Oil now relies on what comes next, Bullish or Bearish drivers, and the word recession has been part of the vocabulary since June when Interest Rates started to climb. 2008-09 had higher Rates that contributed to holding too much debt on the books so will higher Rates trigger a deeper global recession is now front and center for Oil. Oil needs a bullish reason to punch higher with headwinds of uncertainty and Gold at $2040 speaks volumes with the USD breaking toward new lows isn't helping Oil and that's concerning that negative sentiment is overpowering.

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