Let's talk some ATHNot long ago ATH acquired leismer & corner oil sand porjects from statoil for about $601M (435M Cash and 100M shares at $1.66). Back then the market viewed this move as a very positve one and ATH share price rallied above $2. The above aquistion added about 20,000 boe/d to their production and roughly alone is worth $1.18 per share.
Add to the above hangingstone project with an estimated production of 9000 boe/d and some light oil with MRU-ATH joint venture in the Duvernay and Monteny plays with an estimated production >7000 boe/d and working interest of 30 & 70% respectively. ATH net debt is at $351M as per sep presentation. So if you do the math, ATH is trading at 24,000 $/boe. Beside, ATH is excpected to be free cash flow positive at $55 WTI. So if you are bullish on oil, you need to look no further. ATH has a significant upside (>3x todays price) and probably one of the few companies that is most ripe for take over target.