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Athabasca expects regulator's decision on Dover project next week

  • 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.
Comments (2)
  • Elronir
    , contributor
    Comments (19) | Send Message
     
    Stock is already up 15 % since last week. 9-10 $ by next week :)
    31 Jul 2013, 03:14 PM Reply Like
  • Jackie Chan
    , contributor
    Comments (2) | Send Message
     
    Agreed, 7 is still way under valued for Ath.
    Nothing but upside going forward: put/ call $1.3B, potential JV opportunities, light oil production ramping up, etc.
    1 Aug 2013, 01:23 AM Reply Like
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