CALGARY, March 13, 2014 /CNW/ – Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or “the Company”) is pleased to announce that Brion Energy Corporation (“Brion”) has received approval by the Lieutenant Governor in Council for the Dover Commercial Project.
The Dover Commercial Project received Order in Council approval from the Alberta cabinet on March 13, 2014. The project received conditional approval from the Alberta Energy Regulator on August 6, 2013.
“The approval process has been long but we have achieved the expected outcome,” says Sveinung Svarte, CEO and President, Athabasca Oil Corporation. “We now look forward to finalizing the approvals for the project, including receipt of the Alberta Environment approval.”
The Dover Commercial Project is a 250,000 barrel per day (bbl/d) Steam Assisted Gravity Drainage project comprised of five phases, and is operated by Brion, a joint venture between Athabasca and Phoenix Energy Holdings Limited.
About Athabasca Oil Corporation
Athabasca Oil Corporation is a dynamic, Canadian energy company with a diverse portfolio of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca’s common shares trade on the TSX under the symbol “ATH”. For more information, visit www.atha.com.
SOURCE Athabasca Oil Corporation
For further information:
Media and Financial Community
Andre De Leebeeck
Vice President, Investor Relations and
External Communications
1-403-817-8048
adeleebeeck@atha.com
Financial Community
Tracy Robinson
Manager, Investor Relations
1-403-532-7446
trobinson@atha.com