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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 Maxmoeon Nov 01, 2023 11:30am
187 Views
Post# 35711342

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

RE:RE:$337mil of cash at 9/30/23Click, Totally agree. I've been asking the same question for 3 years.  They've carried a large cash hoard because they had to per the debt terms. Eventually , that debt will be gone, and we won't have to deal with the loanshark covenants any longer. At one point, 3 years ago, when the stock was 11 cents, they had enough cash on hand to buy back 100% of the stock but the debt covenants prohibited any buyback. So, it's better than it used to be is all I can tell you. You can ask management, or Matt directly, until you're blue in the face. You won't get the straight answer you want. I've asked at LEAST 5 times. I even sent a note to Taylor and Broen, together and seperately, to hire me as a temp consultant contract treasurer and I'd get it done for them. And I still could and would but they're too cautious or conservative or nice or Canadian to say hey, it's just business, enough is enough from the debtholders. They gotta go. And now I'll go back to waiting impatiently while the cash piles up. This surely doesn't help jimmy with his day trade dilemma. LOL. 
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