PetroChina Buying Canada's Oilsands

[Gary Oak]

Aug 29 (Reuters) - Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PetroChina Co Ltd for $1.18 billion.



Athabasca said it received $600 million in cash and $584 million in three interest-bearing promissory notes from the unit, Phoenix Energy Holdings Ltd.



"The company now has ample liquidity to continue development of its Duvernay and Hangingstone core assets and the timing of the cash payments under the promissory notes is aligned with our capital spending plans over the next couple of years," Athabasca Chief Executive Sveinung Svarte said in a statement on Friday.



PetroChina was expected to have completed the acquisition in June, but it delayed payment amid a government-led corruption investigation into the Chinese company, launched more than half a year ago.



The Dover project, 95 kilometers (59 miles) northwest of Fort McMurray in northern Alberta, is expected to produce as much as 250,000 barrels of bitumen per day.



Athabasca's shares rose 4.7 percent to C$7.95 on the Toronto Stock Exchange.



Up to Thursday's close, the stock had risen about 24 percent since Aug. 6, when the company said a deadline had been set for the deal closure.



It was not immediately clear if the deal value was in Canadian or U.S. dollars.

[Anonymous]

^Foreign investment is considered a good thing Oak.

[Anonymous]

Aug 29 (Reuters) - Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PetroChina Co Ltd for $1.18 billion.



Athabasca said it received $600 million in cash and $584 million in three interest-bearing promissory notes from the unit, Phoenix Energy Holdings Ltd.



"The company now has ample liquidity to continue development of its Duvernay and Hangingstone core assets and the timing of the cash payments under the promissory notes is aligned with our capital spending plans over the next couple of years," Athabasca Chief Executive Sveinung Svarte said in a statement on Friday.



PetroChina was expected to have completed the acquisition in June, but it delayed payment amid a government-led corruption investigation into the Chinese company, launched more than half a year ago.



The Dover project, 95 kilometers (59 miles) northwest of Fort McMurray in northern Alberta, is expected to produce as much as 250,000 barrels of bitumen per day.



Athabasca's shares rose 4.7 percent to C$7.95 on the Toronto Stock Exchange.



Up to Thursday's close, the stock had risen about 24 percent since Aug. 6, when the company said a deadline had been set for the deal closure.



It was not immediately clear if the deal value was in Canadian or U.S. dollars.

U.S., French, British, Thai, Korean and Norwegian interests have all bought stakes in oil-sands projects. Are they all taking an oath too knucklehead?

[Anonymous]

It seems there are concerns about unqualified skilled foreign workers mostly from Europe working on a Husky facility. I have found European tradesman every bit as good as their Canadian counterparts.

http://www.cbc.ca/news/canada/edmonton/canadians-expose-foreign-worker-mess-in-oilsands-1.2750730">http://www.cbc.ca/news/canada/edmonton/ ... -1.2750730">http://www.cbc.ca/news/canada/edmonton/canadians-expose-foreign-worker-mess-in-oilsands-1.2750730

[Big Wave Dave]

Aug 29 (Reuters) - Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PetroChina Co Ltd for $1.18 billion.



Athabasca said it received $600 million in cash and $584 million in three interest-bearing promissory notes from the unit, Phoenix Energy Holdings Ltd.



"The company now has ample liquidity to continue development of its Duvernay and Hangingstone core assets and the timing of the cash payments under the promissory notes is aligned with our capital spending plans over the next couple of years," Athabasca Chief Executive Sveinung Svarte said in a statement on Friday.



PetroChina was expected to have completed the acquisition in June, but it delayed payment amid a government-led corruption investigation into the Chinese company, launched more than half a year ago.



The Dover project, 95 kilometers (59 miles) northwest of Fort McMurray in northern Alberta, is expected to produce as much as 250,000 barrels of bitumen per day.



Athabasca's shares rose 4.7 percent to C$7.95 on the Toronto Stock Exchange.



Up to Thursday's close, the stock had risen about 24 percent since Aug. 6, when the company said a deadline had been set for the deal closure.



It was not immediately clear if the deal value was in Canadian or U.S. dollars.

China has money to invest and Canada as well as every other country want that money invested on their shores. Simple enough concept man.

[Gary Oak]

Aug 29 (Reuters) - Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PetroChina Co Ltd for $1.18 billion.



Athabasca said it received $600 million in cash and $584 million in three interest-bearing promissory notes from the unit, Phoenix Energy Holdings Ltd.



"The company now has ample liquidity to continue development of its Duvernay and Hangingstone core assets and the timing of the cash payments under the promissory notes is aligned with our capital spending plans over the next couple of years," Athabasca Chief Executive Sveinung Svarte said in a statement on Friday.



PetroChina was expected to have completed the acquisition in June, but it delayed payment amid a government-led corruption investigation into the Chinese company, launched more than half a year ago.



The Dover project, 95 kilometers (59 miles) northwest of Fort McMurray in northern Alberta, is expected to produce as much as 250,000 barrels of bitumen per day.



Athabasca's shares rose 4.7 percent to C$7.95 on the Toronto Stock Exchange.



Up to Thursday's close, the stock had risen about 24 percent since Aug. 6, when the company said a deadline had been set for the deal closure.



It was not immediately clear if the deal value was in Canadian or U.S. dollars.

China has money to invest and Canada as well as every other country want that money invested on their shores. Simple enough concept man.

You will never learn anything about China in the brothels. China wants to conquer Canada and make it a vassal state by using their disloyal fifth columnists that are pouring into Canada.

[Anonymous]

You will never learn anything about China in the brothels. China wants to conquer Canada and make it a vassal state by using their disloyal fifth columnists that are pouring into Canada.

No Oak, it's really only about investment. No conspiracies at work here.

[Wulf]

You will never learn anything about China in the brothels. China wants to conquer Canada and make it a vassal state by using their disloyal fifth columnists that are pouring into Canada.

No Oak, it's really only about investment. No conspiracies at work here.

You're not fooling anyone. You zips are slippery bastards.  

[Anonymous]

You will never learn anything about China in the brothels. China wants to conquer Canada and make it a vassal state by using their disloyal fifth columnists that are pouring into Canada.

No Oak, it's really only about investment. No conspiracies at work here.

You're not fooling anyone. You zips are slippery bastards.  

That smack down Joak took from the Chinese boxer really did a number on his ability to distinguish between the real world and fiction. That assumes he could grasp reality before his humiliating butt kicking.

[Gary Oak]

Chinese boxers are the most cowardly bunch of fags in the world. That's why they rig the gloves. Everywhere I go people know what you people are like. I have sparred with Canadian champions and their opinion is good enough for me, nobody cares what you pathetic gimpsd think. Most people hardly notice your existance and you now it.

[Anonymous]

Chinese boxers are the most cowardly bunch of fags in the world. That's why they rig the gloves. Everywhere I go people know what you people are like. I have sparred with Canadian champions and their opinion is good enough for me, nobody cares what you pathetic gimps think. Most people hardly notice your existance and you now it.

Do you mean this is a common practice in Chinese boxing Gary Oak?



How do you know cheating is accepted in China?



Do Chinese boxers cheat when they fight each other?



P.S. can you provide proof of what seems to be a serious allegation Gary Oak?

[Anonymous]

Chinese boxers are the most cowardly bunch of fags in the world. That's why they rig the gloves. Everywhere I go people know what you people are like. I have sparred with Canadian champions and their opinion is good enough for me, nobody cares what you pathetic gimps think. Most people hardly notice your existance and you now it.

Do you mean this is a common practice in Chinese boxing Gary Oak?



How do you know cheating is accepted in China?



Do Chinese boxers cheat when they fight each other?



P.S. can you provide proof of what seems to be a serious allegation Gary Oak?

How does Joak know? A friend told him so.

[Gary Oak]

It is common for chinese to rig the gloves. It isn't a big secret actually. I am sure that you can easily confirm this yourselves and already know this yourselves. Are you trying to convince those who don't understand what chinese people are like ?  They must have looked sooooo stupid when the British police in Hong Kong found out what they did. Of course they can't give a decision to a white guy. Such extreme hate for the people they desperately want to allow them to live in Canada. It's no wonder that the British waited until just after handover to give citizenship to all citizens of all British colonies.

[Anonymous]

It is common for chinese to rig the gloves. It isn't a big secret actually. I am sure that you can easily confirm this yourselves and already know this yourselves. Are you trying to convince those who don't understand what chinese people are like ?  They must have looked sooooo stupid when the British police in Hong Kong found out what they did. Of course they can't give a decision to a white guy. Such extreme hate for the people they desperately want to allow them to live in Canada. It's no wonder that the British waited until just after handover to give citizenship to all citizens of all British colonies.

They did? That's news to me!!

[Anonymous]

It is common for chinese to rig the gloves. It isn't a big secret actually. I am sure that you can easily confirm this yourselves and already know this yourselves. Are you trying to convince those who don't understand what chinese people are like ?  They must have looked sooooo stupid when the British police in Hong Kong found out what they did. Of course they can't give a decision to a white guy. Such extreme hate for the people they desperately want to allow them to live in Canada. It's no wonder that the British waited until just after handover to give citizenship to all citizens of all British colonies.

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