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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (1038)	8/2/2013 8:51:17 PM
From: Goose94	Read Replies (1) of 203542

Athabasca Oil (ATH-T) sees decision on project coming, expects to find out early next week the outcome of a dispute with first nations over its proposed Dover oil sands project that is standing in the way of a $1.32-billion payment from PetroChina. ATH-T said it expects Alberta's energy regulator to hand down a recommendation on whether the 250,000-barrel-a-day project should receive regulatory approval as proposed or whether it should be changed to accommodate the Fort McKay band's request of a 20-kilometre environmental buffer between the project and its reserve near Fort McMurray. The recommendation will then be submitted to the Alberta provincial cabinet and to Alberta Environment for final approvals. The approvals trigger the company's right under a put/call agreement to sell its remaining 40 per cent of the project to a subsidiary of PetroChina, chief executive officer Sveinung Svarte told analysts. Mr. Svarte said he was not aware of any other projects being changed so significantly so late in the regulatory process. Aug 1st 2013

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