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Athabasca Oil Corp T.ATH

Alternate Symbol(s):  ATHOF

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.


TSX:ATH - Post by User

Bullboard Posts
Post by Saskatoonboyon Apr 12, 2010 2:50pm
577 Views
Post# 16982596

Oilsands Acquisitions

Oilsands AcquisitionsSince ATH has to try to hold onto their IPO valuation they may have to backfill their value by acquiring Oilsands assests.  This is where the Juniors come.  There are only a small handful of Juniors that have production or pilots submitted for approval from the Alberta governement.  Those companies being Connacher CLL, Southern Asian Pacific STP, Alberta Oilsands AOS and Excelsior.  Of these companies Connacher has currently 8000-10000 barrels of bitumen coming  out and is going to have their next project up and running shortly to add another 8000-10000 barrels a day to their production.  They have 600 million in debt and a refinery in the states.  STP has  currently 6000 barrels a day of production of heavy oil in Saskatchewan and their Mckay area project pilot submitted to the Alberta Goverment.  Their Mckay is not near any infrastructure and has a high cost of construction to get their project up and running.  Alberta Oilsands Inc. has also a pilot submitted to the governement of Alberta.  It is their Clearwater assest just outside Fort McMurray, near the existing airport.  They are close to all infrastructure and are looking at some the most saturated bitumen oilsands depths to come out of Alberta yet. 35-50 metres of pay.  They have no debt and about 100 million shares oustanding.  They have 10 million in the bank and access to another 10 million of credit.  Excelsior is cash strapped and does not have a pilot submitted at this time.  If ATH starts acquiring these are the companies most likely they will be looking at.  Do you own DD, but these are the companies that really stand to benefit from them needing to back fill their eroding value.  If acquiring is going to happen it will probably happen in the next 3 weeks to a month.  They can't allow their value to erode. 
Bullboard Posts