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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 Mar 07, 2024 11:03am
168 Views
Post# 35920491

RE:Short Covering?

RE:Short Covering?Covered this multiple times. Those shorts are tied to the debt refinancing. The debt holders received warrants at around $1 per share. They didn't want to put up the $1 per share and sell the stock in the market for whatever reason. So instead, they "locked in" their big fat profits on those warrants by shorting the stock. When the warrants expire later this year, that transaction will be unwound. The shorts will deliver shares from the warrant exercise to cover their short. The warrants will disappear, the short will disappear, fully diluted shares will be the same, but issued and outstanding shares (the ones that vote) will increase by the number of exercised warrants. There is no real short. No short squeeze. 
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