4Q15 results were more or less as expected. Apples-to-apples guidance for 2016e was essentially unchanged, although closing of the Murphy JV transaction is now expected in 2Q16 instead of March. Repaying and refinancing debt remains a focus for Management in 2016e. Hangingstone bitumen requires less diluent than typical Athabasca bitumen. Our NAV now reflects better price realizations than previously assumed. Target price reduced to $1.15/share, to reflect our updated Core NAV before ascribing v ....
18 Mar 2016
4Q15 & Year-End Update
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4Q15 & Year-End Update
Athabasca Oil Corporation (ATH:TSE) | 0 0 -2.8% | Mkt Cap: 535.3m
- Published:
18 Mar 2016 -
Author:
Michael P. Dunn -
Pages:
12
4Q15 results were more or less as expected. Apples-to-apples guidance for 2016e was essentially unchanged, although closing of the Murphy JV transaction is now expected in 2Q16 instead of March. Repaying and refinancing debt remains a focus for Management in 2016e. Hangingstone bitumen requires less diluent than typical Athabasca bitumen. Our NAV now reflects better price realizations than previously assumed. Target price reduced to $1.15/share, to reflect our updated Core NAV before ascribing v ....