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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

Comment by Maxmoeon Jan 30, 2023 7:52pm
324 Views
Post# 35255251

RE:RE:Something is cooking here

RE:RE:Something is cooking here

Relaxrelax wrote: Probably Nuttall taking a larger position.  He dumped VET, so he probably has a lot of cash on hand.

He could theoretically buy a few more shares, but not many. He is restricted to less than 10%, at the time of purchase, two different ways.
1] he can't own 10% of the total shares outstanding. So if there are say 572 million outstanding, as reported on s/h, he can't own more than 57.2 million. And that includes every ninepoint fund, and all his personal or family accounts. And he's disclosed previously, he owns it personally. 

2] He ALSO can't own 10% of his fund asset value, at time of purchase, in any one stock. So that means, for example, if his fund is $1.5 Billion, today, he can't buy one single share, today, if it puts him over $150 million worth. At $2.75 per share, that's 54.5 million shares.

So, in theory, he could, if he pushes the max of both limits, own, for simple math purposes, 
54.5 million shares in his fund PLUS a very few million more spread between other ninepoint funds, and his personal/family holdings, up to a total of less than 57.2 million shares.
So, bottom line, no, I don't think he's been buying any more shares lately. He's been at the max or very,very close to it since he bought just under 10% of the shares 2 years ago at 18 cents from those Equinor schmucks from Norway. 

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