Athabasca Oil Corp T.ATH

Waterous Energy fund

[filefish]

https://www.waterous.com/#!strategy
Bosstrades post got me to research this Waterous Energy Fund. Their strategy seems to be tailor made for targeting a company like Athabasca Oil.

[filefish]

Would not be surprised if they are negotiating a better deal for shareholders with Waterous which might account for the lack of refi news. The more cash in the bank as time passes the better the deal. 

[bosstrade]

Thats not tgevwayvWaterous works, They do backroom deals with president/ management and management looks but miraculously can't get financing and then the day after Waterous picks up for nothing at the boards suggestion. Hence why the management have no skin in the game. The only time it backfires is times like this when oil goes up unexpectedly and now the,strategy changes to see if they can

[filefish]

What I am suggesting is that it may be an option that Management is considering and that is possibly holding up the wholeistic financing option. I did take note that when Waterous was bidding for  Strathcona they did increase their offer price as the price of oil improved over that period. Who knows, the whole situation is just very nerve racking .     

[ComradeKomissar]

Waterous is close to being tapped out of the $1.4B warchest they raised for aquistion. If they close this one ($700M), after Pengrowth and Osum, there won't be much left in the kitty. Certainly not enough for another $500-$600M acquisiton. https://boereport.com/2021/09/13/private-equity-backed-canadian-oil-producer-strathcona-in-talks-to-buy-caltex-resources/

[filefish]

Keep in mind that Waterous would be leveraging the ever  increasing cash balance on ATH books, so that the net cash amount required is within a range they have the capital for.

[ComradeKomissar]

Understood! It certainly looks like like someone is keeping  a lid on this since summer.