Athabasca Oil Corp T.ATH

Alternate Symbol(s): ATHOF

Energy Oil & Gas E&P

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. It also consists of two operating oil sands steam assisted gravity drainage projects and a resource base of exploration areas in the Athabasca region of northeastern Alberta. The Light Oil segment includes its assets, liabilities and operating results for the exploration, development and production of light crude oil and medium crude oil, tight oil and conventional natural gas. Its Light Oil segment consists exclusively of the Duvernay in the Greater Kaybob area with about 155,000 gross acres across Kaybob West, Kaybob North, Kaybob East and Two Creeks.

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Athabasca Oil Corp

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Comment by specboy2011on Jan 23, 2015 10:16pm

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Post# 23358374

RE:RE:Look for takeovers by American companies

Athabasca Oil Corp. has closed the sale of its 40-per-cent interest in the Dover oil sands project to Phoenix Energy Holdings Ltd., a wholly owned subsidiary of PetroChina International Investment Ltd., for net proceeds of $1,184-million.

At closing, Athabasca received a cash payment of $600 million, in addition to three interest-bearing promissory notes issued by Phoenix for the remaining $584-million. The promissory notes are unconditional and secured by irrevocable, standby letters of credit issued by HSBC Bank Canada, and mature as follows: