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Athabasca Oil announces sudden departure of president from company
CALGARY – The president of Athabasca Oil has left the company suddenly.
A company news release contains no explanation for Bryan Gould’s departure.
Chief executive Sveinung Svarte is assuming the role of president, effective immediately.
Athabasca’s stock was down about eight per cent following the announcement to $5.82 in afternoon trading on the TSX.
Athabasca has also formed an executive committee, which is intended to refine the company’s operational performance plan.
Athabasca has been trying to form a joint venture for its Hangingstone oilsands property in Alberta, but so far a deal has failed to materialize.
The fate of its Dover oilsands project, part of a joint venture with PetroChina, is also uncertain.
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