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 > Positioned for record cash flow -- room to run

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Comment by matt2018on Aug 05, 2023 9:36pm

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Post# 35575160

RE:RE:RE:RE:RE:Positioned for record cash flow -- room to run

The 2026 notes balance is $161.8M US as per the Q2 report.
The notes can be redeemed at par untill Nov 2024 and then jumps to 105% from Nov 2024 to Nov 2025.
Notes then go back to par redemption the last year from Nov 2025 to Nov 2026.
My guess is they pause on redeeming the notes during the 105% premium period and pay the balance off in full during that last year before they come due.
But at 9.75% interest, if Oil prices are higher for longer, they might pay the 5% premium and pay them off sooner.
I suppose it depends on priority to buy shares or knock off these notes.
Maybe can do both at same time with $90 Oil.

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