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.

TSX:ATH - Post by User

Athabasca Oil Corp

Bullboard Posts

Post by PUNJABIon May 19, 2016 10:32am

184 Views

Post# 24888216

Small increase in short position

I was expecting some short covering. In fact the short position for last 2 week period went up by 575577 shares. I saw some other stocks where short position did not go down.

We get a net short position some would have covered & others creating new short positions. HFT can have one day or few days short position.

Market sentiments is somewhat shifting that oil has bottomed. But there are still some institutions that do not buy the argument due to huge glut & competition among Saudi & Iran to pump more oil.

The increase in short position is encouraging in a way. That means that 35.8 million plus shares have to be bought back at some time and the recent run up was not result of short covering. It was actual buying. So short covering has yet to take place. Short covering can be lot more explosive for the stock & ATH has a massive short position. Short sellers will eventually cover & repair the damage they have done to the share price. This stock should not be at $1.00 area.

I cannot believe that some of short sellers have increased the short position on ATH which has about $60 million net cash after covering all debt. They have a huge amount of cash & deal with Murphy oil to develop their light oil.

It is my assessment ATH is not at risk of going bankruptcy. WTI is trading above their cost of production.

Well you have different views & that what makes the market. PGF sold off yesterday & today because of increased possibility of interest rate hike in June & run up in US $.
Some investors may be nervous about the fires. That is natural. One day this stock will eventually recover.

Short Positions for ATH

Symbol	Report Date	Volume	Change	Shares Issued	% Float
T : ATH	2016-05-15	35,827,603	575,577	404,701,908	8.85
T : ATH	2016-04-30	35,252,026	-1,928,769	404,701,908	8.71
T : ATH	2016-04-15	37,180,795	-1,108,054	404,580,089	9.19
T : ATH	2016-03-31	38,288,849	-149,118	404,580,089	9.46
T : ATH	2016-03-15	38,437,967	-2,147,242	404,494,499	9.50
T : ATH	2016-02-29	40,585,209	781,285	404,494,499	10.03
T : ATH	2016-02-15	39,803,924	898,284	404,299,592	9.85
T : ATH	2016-01-31	38,905,640	-1,845,045	404,299,592	9.62
T : ATH	2016-01-15	40,750,685	-135,323	404,299,592	10.08
T : ATH	2015-12-31	40,886,008	-587,585	403,633,337	10.13
T : ATH	2015-12-15	41,473,593	-3,682,528	403,633,337	10.28
T : ATH	2015-11-30	45,156,121	-4,138,068	403,633,337	11.19