Athabasca signs partner for oil sands JV

摘要

Vancouver—Canadian oil sands developer Athabasca Oil Corp. said August 31 it has signed a letter of intent setting the stage for a joint-venture to develop two of its properties in northern Alberta, but will not comment on reports it is on the verge of a deal with Kuwait Petroleum. The Calgary-based company, while disclosing the letter contemplates a JV involving its Hangingstone and Birch properties, said in a statement that nothing further will be disclosed until a deal has been finalized and received internal and regulatory approvals.