ATH Becane ATH -- How?1. Harringstone 7500 bpd
2. Other assets just sold 2500 bpd
3. Murphy JV 4000 bod
4. Lesimer which they got from Statoil and an underwriting of 450M USD in debt. If they didn't do that deal they were INSIGNIFICANT.
5. STATOIL kept up to 20% of the shares and sold the remaining to EN at 18 cents.
The warrants allowed them to survive.
The management did a good job in protecting the common stock holders from a SERIOUS HAIRCUT.
Forget about the warrants. Less important mow.
What's important next 79 days us as follows:
1. Buyback target for 2023
2. Cash accumulation
3. 2024 budget
They have said something likely on Corner. Perhaps TECK JV WILL EMERGE.
EXPECT SELF FINANCING ON LEISMER 2024 JULY TO 2026.
EXPECT MURPHY OIL JV EXPANSION
TALK ABOUT A 'TECK' CANDIDATE TAKEOVRR TARGET OR EQUIVALENT FIRM.
ML