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 > Re ATH

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Comment by Moneyloopon Mar 09, 2022 6:07am

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Post# 34498301

RE:RE:Re ATH

So we're looking at 2023,for that to be the situation.

Clear Debt Reduction Targets. The Company is planning to utilize 100% of nearterm free cash flow to reduce its term debt and is anticipating being in a net cash position by year end 2022 at current commodity prices. Athabasca expects to also achieve its target term debt of US$175 million (50% reduction) in H1 2023. The Company recently redeemed US$25 million of debt in the open market with scheduled future debt repayments in May and November.