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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
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Post by retiredcfon Jun 24, 2024 8:28am
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Post# 36102905

Ink Research

Ink Research

Last week, week Athabasca Oil (ATH) CEO Robert Broen and CFO Matthew Taylor each sold about $3 million worth of shares. The filings were accompanied by remarks stating "Sold for tax planning." The sales will settle before June 25th when recent capital gains tax increases announced in the spring Canadian budget kick in. Given that the stock is up 79.5% over the past year and 30.3% since we last featured it here on August 8th, tax-motivated selling is not a surprise. Nevertheless, the selling has knocked the stock down the INK Edge rankings. In Friday's INK Short Report for June 15th, Athabasca Oil was the 8th most-shorted stock in Canada. When Athabasca reported Q1 results on May 8th, cash flow from operating activities jumped to $0.14 per basic share from $0.04 in Q1 2023. Rising bitumen production and Canadian heavy oil prices contributed to the improvement.


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