Athabasca Oil GAAP EPS of $0.14, revenue of $333.4M; updates FY outlook

* Athabasca Oil press release [https://seekingalpha.com/pr/20285539-athabasca-oil-announces-2025-third-quarter-results-highlighted-by-consistent-operational] (OTCPK:ATHOF [https://seekingalpha.com/symbol/ATHOF]): Q3 GAAP EPS of $0.14.
* Revenue of $333.4M (-11.5% Y/Y).
* Production: Average production of 39,599 boe/d (98% Liquids), representing 2% (11% per share) growth year-over-year.
* Cash Flow: Adjusted Funds Flow of $129 million ($0.26 per share). Cash Flow from Operating Activities of $157 million. Free Cash Flow of $56 million from Athabasca (Thermal Oil).
* Capital Program: $96 million total capital expenditures, including $61 million at Leismer to support the progressive growth project to 40,000 bbl/d.

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2025 CORPORATE GUIDANCE

* Consolidated Production Outlook: The Company anticipates production at the upper end of its original guidance of 37,500 – 39,500 boe/d. Thermal Oil production is expected to average ~35,500 bbl/d and DEC is expected to average ~3,500 boe/d with an exit target of 5,500 - 6,000 boe/d.
* The forecast capital budget for Thermal Oil is unchanged at ~$250 million, including sustaining capital and the Leismer expansion project.
* The forecast capital budget is unchanged at ~$75 million and will drive production momentum in the fourth quarter of 2025.
* The Company forecasts consolidated Adjusted Funds Flow of $525 - $550 million1, including $475 - $500 million from its Thermal Oil assets. 2025 Thermal Oil Free Cash Flow is forecasted at ~$250 million and is planned to be returned to shareholders through share buybacks.

MORE ON ATHABASCA OIL CORPORATION

* Athabasca Oil: Cyclical Peak May Be Near [https://seekingalpha.com/article/4829099-athabasca-oil-cyclical-peak-may-be-near]
* Seeking Alpha’s Quant Rating on Athabasca Oil Corporation [https://seekingalpha.com/symbol/ATH:CA/ratings/quant-ratings]
* Historical earnings data for Athabasca Oil Corporation [https://seekingalpha.com/symbol/ATH:CA/earnings]
* Financial information for Athabasca Oil Corporation [https://seekingalpha.com/symbol/ATH:CA/income-statement]