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Athabasca Oil Provides Q3 2012 Operational Results

Athabasca Oil Corporation (ATH.TO) today reported third quarter 2012 operational results.

Athabasca achieved several significant milestones:

- The Energy Resources Conservation Board approved the development of the Thermal Oil Division's 12,000 barrels per day (bbl/d) Hangingstone Project 1, and Alberta Environment and Sustainable Resource Development Department approved its construction under the Environmental Protection and Enhancement Act

- The Light Oil Division completed construction and tie-in of its production facility at Kaybob West, bringing total Light Oil production to over 3,500 barrels of oil equivalent per day (boe/d). Behind-pipe production sits at more than 7,000 boe/d. The Light Oil Division expects to achieve its year-end exit rate of 10,000 to 11,000 boe/d

- The Light Oil Division drilled and completed its second horizontal Duvernay well located at Saxon (06-10-62-23W5M). The well is currently shut-in pending completion of the Saxon battery

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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