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

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Post by smallcaptdron Mar 31, 2023 11:23am

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Post# 35371833

Latest drivers for Oil...

We already know that China's Manufacturing PMI remains above 50 then Euro Area Inflation hits 6.9% which is still high but a far cry from 10.6% hit in 2022 working to keep Oil bullish next up was the US Personal Income which rose by 0.3% not great but still an increase, Personal Spending took a hit with a small increase of 0.2% which could deteriorate even more with everything happening in the US slowing it down and US Core Pce Price Index which excludes food and energy rose by 0.3% which gauges Inflation all added to the bullishness of Oil in one way or another but even with the bulls forward charging Oil Stocks still arent 100% sold that Oil will continue towards the next phycological barrier at $80 and right now it's fighting to stay at $75 so today I expect to see profit taking in Oil ahead of the weekend because there's always a risk that overseas for whatever reason could throw a curveball but Fri usually sees lighter trading across the board but this week was successful for Oil and Gold. Right now the USD is gaining strength hurting commodities check out DXY in currency and the USD is bouncing off a year low so heading higher has become a party crasher if it continues back to 105.00. I'm unwinding ahead of the weekend but it's geared more toward profit taking and with cash, you can jump right back in when next week's picture becomes clearer. BB is today's money maker.

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