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.

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Athabasca Oil Corp > US$350 Million Notes Offering

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Comment by filefishon Oct 07, 2021 3:45pm

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Post# 33983658

RE:RE:RE:RE:RE:US$350 Million Notes Offering

This wasnt the deal I was expecting or hoping for. Not only did they refi too large of a debt balance at too high an interest rate, but they effectively gave away 20% of the company to the Noteholders. They call this a "contingent" deal. At this point I guess I would like it to get it done with , but any expectation of 1.20 in the near future with these warrants floating around at .94 seems unlikely. Lets see what the early loan call out premiums are and hopefully they can retire some of this debt next year. Disappointed.

ManitobaCanuck wrote: Still , I mean if they exercise right away , they get 20% of the company ay 95 cents?

maramos98 wrote: Many warrants also allow for what is called a “cashless exercise,” which allows the holder to exercise without paying cash by reducing the number of shares receivable by the holder by an amount equal in value to the aggregate exercise price that the holder would otherwise have to pay.