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.

TSX:ATH - Post by User

Athabasca Oil Corp > $337mil of cash at 9/30/23

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Comment by cahclickon Nov 01, 2023 9:26am

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Post# 35710945

RE:$337mil of cash at 9/30/23

filefish wrote: Can someone on their conference call please ask management why they find it necessary to carry over $300 mil in cash on the books when they could wipe out their debt completely and still have $125 mil left over + an undrawn credit facility. Financing costs in Q3 were over $11 mil

I would really like to hear ATH management answer this question (not posters on this Board) as it makes no sense to me why they burn $11 million per quarter paying interest.

As you say, they would still have $125 million cash on hand plus line of credit.

Otherwise a killer quarter !

go ath go

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