Athabasca Oil Corp T.ATH

Anybody ?

[cahclick]

Im reluctant to ask this question as it opens the door for bathers but . . .

I don't understand why ATH doesn't talk about the warrants. 

At first blush it appears they spent approximately $220,000,000 during the current NCIB to reduce the share count by 2 million shares.

In the release today, they don't mention if the warrants are fully paid out. The 2023 YE suggests the warrants attached to the refi should be fully paid out if I understand correctly.

Anyone understand why ?

go ATH go

[cahclick]

  Bashers NOT bathers 

[matt2018]

This is what I have cahclick (someone please correct me if I'm wrong on this). Prior to financing in Oct 2021...... Share outstanding         Sept 30/2021   530.7M Warrants from financing  Oct 25/2021     79.4M  (all in the money) Total before initiating buybacks             610.1M Buybacks to date

[matt2018]

further to the numbers (again, assuming I have them right), if they are able to purchase the 55.4M shares (NCIB renewal just announced), this would bring share count down to 499.2M by next March. Share outstanding         Sept 30/2021   530.7M Warrants from financing  Oct 25/2021     79.4M  (all in the money) Total before initiating

[MLEWICKIMBA]

There were a bunch of shares given to employees remember -- 16m if I am cirrect. So I would think your number should be higher. Correct me if I am wrong please. I think as long as we get to 530.7M shares by October it is an amazing transition. They will be bought out by then I think as the reserves are enormous and the USA needs reserves.   I preduct a CVE takeover and then CVE is a

[Jimmy1page]

CVE took on a lot of debt when it bought out ConocoPhillips.  Then an incredible amount of debt when it bought husky.  Not sure they have the dough.

[matt2018]

Many of the deals done in energy lately are with issuing more company stock and very little cash. Just look at recent offer for ERF by american company CHRD. Less than $2 is cash, the balance is shares in CHRD. I agree CVE is trying to pay down debt and they have done that if you look where they were after the Conoco asset purchases. But if they could show increased per share metrics by making an

[cahclick]

  I never thought about this until now but MEG and ATH  are probably on the hit list by American oilies and processors as WCS is no longer guaranteed once TMX is operational. Until TMX, WCS was there for the taking and for a whopping differential to boot. More tailwinds for ATH ! go ATH go

[matt2018]

Thanks gents, I forgot about those employee shares. So makes total sense, from todays news release...... "As of March 12, 2024, the Company had a public float of 554,237,864 common shares and 564,438,104 common shares issued and outstanding."

[cahclick]

  Following this to a conclusion, according to my calcs all shares triggered by the refi warrants PLUS the 16 million shares given to employees should be fully paid and cancelled under the new NCIB by the end of the 3rd quarter this year . . . assuming income stream remains more or less level between now and then. I think I've got it right but correct me if I'm wrong. glta

[cahclick]

  Matt, many thanks for your help. The share count you suggest adds up subject to any shares given to insiders as mentioned by ML. I wish the company would be (more) transparent on the warrant issue until the warrants are completely off the books. I believe it would help management's  "look" as well. Again, many thanks for taking the time. go ATH go