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UPDATE: Market Chatter: Athabasca Oil Corp. Up 3% As Optimistic About Doing JV Deal With State-Owned Company

Athabasca Oil Corp. (ATH.TO) is optimistic that a joint venture with a state-owned company can be rekindled now that the federal government has laid the ground rules for takeovers and partnerships with foreign buyers, the Globe and Mail reported overnight.

Athabasca CEO Sveinung Svarte said he hopes to finalize the deal to sell stakes in two Alberta oil sands projects to companies from Kuwait and Spain that balked at what is expected to be a $2-billion joint venture while awaiting Ottawa's ruling on foreign ownership of Canadian companies.

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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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