Alberta's energy regulator OKs Athabasca's Dover oil sands project


Athabasca Oil (ATHOF.PK) gains conditional approval from Alberta's energy regulator for its proposed Dover oil sands project.

The approval triggers the company’s right under a put/call agreement to sell its remaining 40% of the Dover project to a PetroChina (PTR) subsidiary, with proceeds expected in Q4.

Final approval is pending from the Alberta provincial cabinet and Alberta Environment.

Comments (1)
  • bankstocks
    , contributor
    Comments (1604) | Send Message
     
    That's good. ATH has been under a lot of pressure lately.

     

    People worried about debt, cash, and cap-ex. This $$$ from the put exercise will give them a lot of $$$ relative to their market cap.

     

    Less pressure to sell the Duvernay at a knock-down price.
    7 Aug 2013, 08:38 AM Reply Like
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