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Athabasca Oil Corporation exercises Dover put option

Thursday, 17 Apr 2014 12:45pm EDT 

Athabasca Oil Corporation:Exercises option to divest 40 pct interest in Dover Commercial Project (DCP) to Phoenix Energy Holdings Limited (Phoenix) for cash consideration of C$1.32 bln.Pursuant to terms of its Feb. 10, 2010 Put/Call option agreement with Phoenix, Athabasca's option to sell was triggered by issuance of Alberta Environment's approval of DCP under Alberta Environment Protection and Enhancement Act on April 16. 

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