RE:RE:RE:Oil is 65.02 in overnight trading...Eigen I have always been nervous about ATH yet way back in early 2019 when I looked at it...one thing that struck me as odd is how a producer that large...they used to be like 39,000 BOE I think...how ATH didn't have a decent sized debt faculty with a banking syndicate.
Bank debt faculties were easy to get in 2019...not like now...and yet ATH was so tiny in what they qualified for....
Every company wants the flexibility of having a debt faculity.
Q1 results will never alot about the current state of banks towards energy companies.
I am interested in if CJ will be reduced to 200M or will it stay at 225M....
IF a company as strong as CJ get's reduced it is a bad omen for ATH, BNE, OBE, etc...
Eigen337 wrote: kavern23 - (3/17/2021 2:06:17 AM)
RE:Oil is 65.02 in overnight trading... ATH shouldnt have a higher market cap then CJ....give the market time.
Both ATH and CJ got extra killed in 2020 as they both need good oil prices too thrive but ATH had a -19M adjusted funds flow for the year and CJ was close to 44M.
Total wasted year of production and reserves for ATH and it hits ATH worse then CJ as ATH thermal wells don't produce 25-50 more years like alot of CJ's wells do.
ATH thermal wells seem to have a high capex and in like 5 years decline to half and they are not 20 year producing wells...don't produce that much at year 11.
ATH needs perfect oil prices over the course of the well life if you have the capex per well they do.
ATH 2021 numbers are just going to cover the hole they made in 2020. ATH had a horrible 2020. Just bad. They produced all that oil to have a negative cashflow.
ATH is close to 50% hedged in Q3 and Q4...CJ is only 16% and 10%....no comprision between the 2 companies on which is a buy. CJ destroys ATH. Not close.
CJ actually can use 2021 gains too actually make gains. Think how long it will take ATH to get into the position of CJ in actually paying off near half the debt in ONE YEAR. ATH going to need years and years too pay off half debt. And ATH light oil division is going to need alot of capital in 2022 after a zero spend...
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Did you have a FEW SHOTS of VODKA when you wrote this ???
LOL !!!
HANGINGSTONE is a DUD (natural gas steam energy GUZZLER !!!) !!!
LEISMER is the LONG-LASTING MONEY-SPINNER !!!
This is my opinion only.
Eigen337