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PGHEF - Athabasca Oil: Beyond A Disastrous Quarter There's An Investment Case
Pengrowth Energy Corporation
Athabasca Oil (ATHOF) reported a disastrous Q4. With the depressed Canadian oil prices and because of the diluent costs, the company almost realized negative net sales. Also, management recognized an important impairment of thermal oil assets.
Since the beginning of the year, the Canadian oil prices improved, but the stock price stayed at its lowest levels.
Considering the profitability threshold at US$55/bbl, the market values the company at a discount compared to Pengrowth Energy (PGHEF) and other Canadian producers. With a reasonable debt, the company is an interesting investment idea for