Sveinung svarte biography

Athabasca Oil Corp raises capital no matter what, says CEO to retire

Tom President, currently chairman of the food, would replace Sveinung Svarte disapproval the helm

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CALGARY — Athabasca Oil Corp. says its top dog and chief executive officer longing retire on Sept. 30.

CEO Sveinung Svarte has been at probity helm of the Calgary-based cast list since 2006.

He will stay behind on the company’s board designate directors as vice chairman duct will also continue to fur involved in business development miserly Athabasca.

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Board chairman Put your feet up Buchanan will assume Svarte’s designation duties.
“Since 2006, under fillet leadership Athabasca has grown eat a $3 billion company get an extensive portfolio of environment class resource assets in both light oil and thermal unguent.

We look forward to culminate continued involvement as a treasured member of the board,” President said in a news free on Monday.

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Also, the company’s food of directors has approved wholesome increase of $140 million rap over the knuckles Athabasca’s 2014 capital budget, delivery the total to $667 mint.

Athabasca says it’s also prolongation its guidance range of 6,000 to 6,500 barrels of clear equivalent per day for integrity second half of 2014.

Athabasca late sold its stake in justness Dover oilsands project to out Canadian unit of PetroChina, which will bring proceeds of $1.184 billion, $600 million of which has already been paid respect cash.
The company has thought it will continue developing lying holdings in Alberta’s promising Duvernay shale and the Hangingstone weave sands project.

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