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Athabasca Oil Corporation Comments on the Public Hearing for the Dover Commercial Oil Sands Project
CALGARY, April 24, 2013 /CNW/ - Athabasca Oil Corporation (TSX:  ATH) is responding to...
About this update from Athabasca Oil Corporation
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, April 24, 2013 /CNW/ - Athabasca Oil Corporation (TSX:  ATH) is\n responding to a request from Investment Industry Regulatory\n Organization of Canada (IIROC) to comment on recent market activity\n involving its shares, which may be related to recent newspaper articles\n about yesterday's commencement of the previously disclosed public\n hearing by the Energy Resources Conservation Board (\"ERCB\") in Fort\n McMurray, Alberta in respect of the Dover Commercial Oil Sands Project.\n\n\nDover Operating Corp. (\"Dover OpCo\"), a joint venture between Phoenix\n Energy Holdings Limited, a wholly owned subsidiary of Petrochina\n International Investment Company Limited (60 percent ownership) and\n Athabasca (40 percent ownership), is presenting its technical case to\n the ERCB in support of the Dover Commercial Project.\n\n\nThe Dover Commercial Project, a 250,000 bbl/d SAGD project, which is\n planned to be produced by Steam Assisted Gravity Drainage (\"SAGD\")\n production technology, is comprised of five, 50,000 bbl/d phases.\n\n\nDover OpCo requested that the ERCB hold a public hearing to resolve a\n statement of concern filed by the Fort McKay First Nation regarding the\n Dover Commercial Project. The ERCB has developed a well-established\n public hearing process in Alberta and Dover OpCo is seeking a decision\n through this public hearing process supporting the Dover Commercial\n Project.\n\n\nAthabasca is not aware of any material information regarding the ERCB\n Dover Commercial Project hearing that is not otherwise publically\n available. Athabasca's policy is not to comment on rumours or\n speculation and accordingly, it does not intend to comment further.\n\n\nReader Advisory:\n\n\nThis News Release contains forward-looking information that involves\n various risks, uncertainties and other factors. All information other\n than statements of historical fact is forward-looking information. The\n use of any of the words \"anticipate,\" \"plan,\" \"continue,\" \"estimate,\"\n \"expect,\" \"may,\" \"will,\" \"project,\" \"should,\" \"believe,\" \"predict,\"\n \"pursue\" and \"potential\" and similar expressions are intended to\n identify forward-looking information. The forward-looking information\n is not historical fact, but rather is based on the Company's current\n plans, objectives, goals, strategie...