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Friday, Oct 185:51 PMAthabasca Oil shares plunge on Dover court appeal
Friday, Oct 185:51 PM| Comment!
- Athabasca Oil (ATHOF.PK) was today's top decliner on the Toronto Stock Exchange, plunging 10% after a court ruled an aboriginal group could appeal an Alberta regulator's approval of the company's Dover oil sands project.
- The company expects Dover to create $5.2B annually in economic activity, and it had planned to proceed with the sale of its stake in the project to PetroChina (PTR) following the regulator’s approval in August.
- The decision significantly increases the risk regulatory delay and is a major negative for Athabasca, an RBC analyst says.
Wednesday, Aug 78:19 AMAlberta's energy regulator OKs Athabasca's Dover oil sands project
Wednesday, Aug 78:19 AM| 1 Comment
- 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.
Wednesday, Jul 312:45 PMAthabasca expects regulator's decision on Dover project next week
Wednesday, Jul 312:45 PM| 2 Comments
- 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.
Monday, Dec 172012, 11:41 AMEncana’s (ECA) new JV with PetroChina, the first since Canada unveiled new restrictions for state-owned firms seeking to invest in its oil sands, is sure to be the first of many. Athabasca Oil (ATHOF.PK), Talisman Energy (TLM) and Canadian Natural Resources (CNQ) may attract overseas investors eager to gain access to resources, and the companies seek funds for drilling and development. |Monday, Dec 172012, 11:41 AM| Comment!
Tuesday, Jan 32012, 1:00 PMAthabasca Oil Sands (ATHOF.PK) exercises its option to sell its 40% stake in the MacKay River oil-sands project in Alberta to joint owner PetroChina (PTR +4.9%) for C$680M ($669M). The transaction comes less than a week after regulators approved the planned 150,000-barrel-a-day project. (PR .pdf) |Tuesday, Jan 32012, 1:00 PM| 1 Comment