Athabasca expects regulator's decision on Dover project next week

|About: Athabasca Oil Corp. (ATHOF)|By:, SA News Editor

Athabasca Oil (ATHOF.PK) expects to find out early next week the outcome of a dispute with aboriginals over its proposed 250K bbl/day Dover oil sands project that's holding up a $1.32B payment from PetroChina (PTR).

Alberta’s energy regulator is deciding whether to accommodate the natives' request of a 20-km environmental buffer between Dover and their reserve near Fort McMurray.

The approvals trigger the company’s right under a put/call agreement to sell its remaining 40% of the project to a PTR subsidiary, with proceeds expected in Q4.