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Athabasca Oil signs pact for oil sands JV
August 31, 2012 / 5:00 PM / 5 years ago

Athabasca Oil signs pact for oil sands JV

(Reuters) - Oil sands company Athabasca Oil Corp (ATH.TO) said it signed a letter of intent for a joint venture involving its Hangingstone and Birch properties in northern Alberta.

The company did not identify with whom it had signed the agreement.

Earlier in the day, the Globe and Mail reported that the partner was Kuwait’s state-controlled oil company.

Athabasca’s shares were halted on the Toronto Stock Exchange on Friday, having closed at C$12.51 on Thursday.

Reporting by Shounak Dasgupta in Bangalore; Editing by Maju Samuel

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