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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 Jun 18, 2024 6:49pm
198 Views
Post# 36095028

RE:What a dream for buybacks

RE:What a dream for buybacksYes the capital gains tax situation is keeping a lid on the share price for the moment and is giving ATH the opportunity to buyback more than might be the case. However I think we are a long way from where the outstanding share count needs to be in order to see a meaningful affect when buyers do come in. I would say that the share count needs to be in the 450mil range, down about 100mil from where it is today.   With the some of cash they have on hand, an SIB could eliminate more than half of that in one chunk.
Regarding the new capital gains rate increase, one has to keep in mind that you have to have a gain in the first place so lets hope ATH can break out of the 4.80 - 5.10 doldrums trading range and then deal with paying the cap gains tax later.     
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