RE:RE:Financial StatementIt depends how you see this company. The last time it made some money was just selling their land to African Oil in exchange of their share which were sold for a profit.
The following was extracted from an update from naeden99
On September 9, 2010, the Company completed the sale of its interests in Kenya to Africa Oil Corp.
(“Africa Oil”) in exchange for 2,500,000 common shares and 1,500,000 common share purchase warrants
of Africa Oil with an exercise price of $1.50 per warrant over a life of two years.
During the year ended December 31, 2011, 2,496,900 common shares were sold for net cash proceeds
of $5,570,015. In January 2012, the balance of the Africa Oil shares were sold for net cash proceeds of
$5,066
I think this company is more less like a land hold company that picks up cheap land in hoping that its neighoring development can proof those land to be valuable asset.
It seems to me that they are more business traders than oil resource developers. May be that is what they are good at.
On September 9, 2010, the Company completed the sale of its interests in Kenya to Africa Oil Corp.
(“Africa Oil”) in exchange for 2,500,000 common shares and 1,500,000 common share purchase warrants
of Africa Oil with an exercise price of $1.50 per warrant over a life of two years.
During the year ended December 31, 2011, 2,496,900 common shares were sold for net cash proceeds
of $5,570,015. In January 2012, the balance of the Africa Oil shares were sold for net cash proceeds of
$5,066
Read more at https://www.stockhouse.com/companies/bullboard/v.aos/alberta-oilsands-inc?postid=21931473#GhHUFT4bjl3DLl3T.99
On September 9, 2010, the Company completed the sale of its interests in Kenya to Africa Oil Corp.
(“Africa Oil”) in exchange for 2,500,000 common shares and 1,500,000 common share purchase warrants
of Africa Oil with an exercise price of $1.50 per warrant over a life of two years.
During the year ended December 31, 2011, 2,496,900 common shares were sold for net cash proceeds
of $5,570,015. In January 2012, the balance of the Africa Oil shares were sold for net cash proceeds of
$5,066
Read more at https://www.stockhouse.com/companies/bullboard/v.aos/alberta-oilsands-inc?postid=21931473#GhHUFT4bjl3DLl3T.99
On September 9, 2010, the Company completed the sale of its interests in Kenya to Africa Oil Corp.
(“Africa Oil”) in exchange for 2,500,000 common shares and 1,500,000 common share purchase warrants
of Africa Oil with an exercise price of $1.50 per warrant over a life of two years.
During the year ended December 31, 2011, 2,496,900 common shares were sold for net cash proceeds
of $5,570,015. In January 2012, the balance of the Africa Oil shares were sold for net cash proceeds of
$5,066
Read more at https://www.stockhouse.com/companies/bullboard/v.aos/alberta-oilsands-inc?postid=21931473#GhHUFT4bjl3DLl3T.99
If you want to see their development options, you can check the following acticle:
https://www.beatingtheindex.com/fort-mcmurray-eviction-leaves-alberta-oilsands-trading-at-half-of-potential-cash-breakup-value/
assuming the writer knows what he is writing.