Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

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

Post by filefishon Mar 06, 2021 11:31am
323 Views
Post# 32736134

End game ( just dreaming)

End game ( just dreaming)I have been an ATH shareholder for the past 6 years. Its been a rollercoaster ride downhill during that time. While the company has made a few very smart moves, they overspent on developing Hangingstone and Placid/Montney. At one time they had over 1.2 billion in cash and could have paid off all of their debt but elected to keep a lot of that cash on hand, some of which is represented by the 165mil unrestricted cash +135mil restricted cash on the books today. This strategy is partly responsible for why they are in the predicament they are in today. Over the years I averaged down buy my average cost is still .80/sh. Times have changed and small mid caps like ATH with no particular niche or competitive advantage have become  impossible to gain investor interest or to raise capital. Athabasca surely recognizes that an exit strategy must unfold. With the fortunate help of  todays $66WTI, they are in a position to successfully accomplish this. First with a Refi of Debt, then with a sale of Montney assets and finally  rebranding themselves as a pure Oil Sands player. At this point, the Company would have little net debt. The resulting entity would be very attractive to a MEG ,CVE, or the like, for takeover . In my dreams, this is how I see the end game.  
<< Previous
Bullboard Posts
Next >>