ATHOF - Athabasca Oil Needs Higher Oil And Gas Prices
The latest company presentation touts the low breakeven prices for its thermal oil assets. Management also highlights the high netback from the oil assets.
Yet, I show in this article that, despite improved liquids prices in Q2 2018, Athabasca Oil (OTC:ATHOF) generated a barely positive total netback. But with higher commodity prices in H2 2018, the company will increase its cash flow.
I also compare the costs and the valuation of the company with three other Canadian heavy oil producers: Pengrowth Energy (OTC:PGHEF), Gear Energy (OTCPK:GENGF), and MEG