Athabasca Oil Corporation Closes Sale of its 50% Interest in the Light Oil Infrastructure

CALGARY, Dec. 23, 2013 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") has closed its previously announced sale of a 50% interest in the Kaybob area light oil infrastructure to a third-party for cash consideration of $145 million. Athabasca retains a 50% interest in these infrastructure assets and remains operator.

About Athabasca Oil Corporation

Athabasca Oil Corporation is a dynamic, Canadian energy company with a diverse portfolio of thermal and light oil assets. Situated in Alberta's Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca's common shares trade on the TSX under the symbol "ATH". For more information, visit www.atha.com.

SOURCE Athabasca Oil Corporation

For further information:

Media and Financial Community    
Andre De Leebeeck
Vice President, Investor Relations and
External Communications
1-403-817-8048
adeleebeeck@atha.com    

Financial Community
Tracy Robinson
Manager, Investor Relations
1-403-532-7446
trobinson@atha.com