Athabasca Oil To Sell Portion of Light Oil Infrastructure

摘要

Athabasca Oil Corp. entered an option agreement with a third party that give Athabasca the option of selling up to a 50% interest in its Kaybob area light oil infrastructure for up to $145 million cash. Under the terms of the agreement, Athabasca has the right on or before December 31 to sell the counter party a 25% to 50% working interest in Athabasca’s light oil pipeline and any other infrastructure assets in the Simonette area of northern Alberta for up to an additional $15 million cash. Athabasca would remain the operator for both Kaybob and Simonette infrastructure assets.