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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 filefishon Nov 01, 2023 12:13pm
157 Views
Post# 35711449

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

RE:RE:RE:$337mil of cash at 9/30/23Maxmoe, I have been along on the ride with you over the years about this topic of hording cash. Like you I have contacted Matt multiple times and received evasive answers, so I stopped asking.  However under the circumstances today, long time suffering shareholders should be very insistant that this cash be distributed via buybacks with any excess of 10% going to an SIB. It makes no sense to pay 9.75% interest and earn 5% on money market. The only reason I can think why they continue to build excess cash is there is some kind of Company changing transaction pending. 
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