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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 lovehockeyon Jun 26, 2023 5:26pm
168 Views
Post# 35515239

RE:SPR Release 2023

RE:SPR Release 2023

I do not believe SPR releases are over. For the US administration keeping prices of oil depressed is of highest priorities for so many reasons. Please note that they successfully tested a scheme where they were selling and buying SPR at the same time and it seemingly worked. The idea behind it is very simple - SPR must be dumped in a certain way that will cause the biggest damage to the oil prices, so they choose the most vulnerable time during each week and dump it in large enough quantity to lower the price as much as they can. Then they re-purchase a portion of what they sold at higher prices. They do lose several bucks for each barrel sold/repurchased but these losses are what they are willing to lose. 

So I do believe they will continue was trading so they may still be selling 10 mm barrels each months and repurchasing about 5 mm each month. That will give them enough time to keep oil prices in check for the upcoming election. 

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