Athabasca Oil Corp T.ATH

Buyback versus warrants versus share compensation

[BLACKJACK86]

A quick look at page 10, i see 15.6 millions share repurchases, 8.6 millions granted to managment and 6.2 millions for warrants.

I'm I reading this correctly, 8.6 millions for mgmt and that's for 3 month only ?????

[dandu1924]

This is the problem with those companies, they buyback the shares  and at the same time the management  are loading up with their options and warrants, this is explain why the share price does not react ( up )   with the buyback.  I am holding BIR, and they did the same pattern. So the only real factor is the price of WTI.

[BLACKJACK86]

e-mail sent to Matt Taylor, maybe I am misreading this.

[newtonboy]

So management loading up on options/warrents basically nullifies most or all of the share buy backs. This is the main reason I prefer debt repayment and dividends instead of share buybacks. I'm not saying management/insiders do not warrant (pun intended) or deserve perks but what about the rest of us.  We are all here to make money by investing.  

[BLACKJACK86]

the warrants I don't have a problem with , as I see it , it was part of the refinancing, not warrant giving to mgmt.

[matt2018]

Exactly newtonboy..... obviously, we all want ATH to do well, but lets be honest about the NCIB. They bought back 15.6M shares in the Q2.  They also had 6.2M warrants (understandable) and 8.6M company stock options, RSU's & PSU's (questionable). Net the dilution, its less than 1M shares that came off the total from that 15.6M purchased shares. Not much bang for your buck. They

[matt2018]

This share issue is no doubt taking away from what was a decent QTR overall considering the challenges (low WTI price, fires). Thats a shame and a wasted QTR (operational) in my opinion. Sometimes you have to be careful what you wish for (NCIB). The cash balance dropped from $173.3M to $132.5M ( -$40.8M). The NCIB in Q2 cost $47M (another $14M was used after June 30). If you dont purchase a single

[stock_for_gold]

That's what it looks like and that's why the sell off . I'm not very happy as well since the increase in shares almost nullifies the NCIB. Hopefully BTE will have better earnings 

[stock_for_gold]

They should have added a dividend with their share buybacks I'm sure Eric Nuttall has been dumping today. I'm reducing my exposure as well.