Athabasca Oil Corp T.ATH

Reiterate my buyout target for those who didn’t see

[bosstrade]

Why I've thought ATH is a buyout target
Tax pools are huge for ATH. Other boards posted about different companies but RBC info as follows
Tax pool coverage ratios - the lay of the land. Our producer group's tax pools are displayed in Exhibit 1 relative to each company's operating income, illustrating roughly how many years of coverage each producer has remaining. Coverage depends on pool type and the magnitude of new pools generated each year - producers with the longest runway include LXE, ATH, CJ and POU, with PEY, TVE and ARX screening as the shortest (reflective of higher historical earnings). Viewed through a FCF lens, we believe companies best positioned to (1) generate meaningful FCF and (2) shield that FCF from taxation for longer include POU, CJ, MEG and ATH in a long-term harvest scenario.

[ComradeKomissar]

LOL: ATH has a "tax pool" coverage so YUGE(18x) RBC Capital Markets couldn't fit it in this chart.

[elducky]

Is there a link to this presentation? 

[Chris007]

Yup. There has definitely been a crapload of capital destruction over the years in regard to ATH.  Definitely would have been a harrowing experience to own the stock over the course of the previous 10-15 years.  That being said, if you managed to get in the last year or so, its been a nice ride.

[bdeparde]

I've traded it since the IPO flopped. I think I've always made money.

[Chris007]

Indeed...the keyword here is "traded"...as a long term "investment", its obviously been a diaster, as per the massive tax pools

[Maxmoe]

 I have that guy on ignore from long ago but I'd point out that the tax losses on the ATH books have absolutely nothing to do with the alleged trading gains or losses of any investor whether they are flippers or holders since the ipo.  It is theoretically possible for a company to have tax losses and to never trade below its ipo price. Just as it's possible for a company with no

[Chris007]

Indeed....but obviously companies do not accumulate such massive tax pools without a massive string of losses over the years. As such, the share price has definitely been decimated over the years from ipo onwards, to a much greater extent than most Canadian o&g names, through a combination of both dilution and poor operating performance. I mean, jesus, the IPO price was 18 bucks a share in