Athabasca Oil Sands to Sell Remaining 40% Interest in MacKay River Oil Sands Project to Cretaceous Oilsands - Debt and Cash Management Step by Athabasca - Deal Analysis from GlobalData by GlobalData

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									                Athabasca Oil Sands to Sell Remaining 40% Interest in
               MacKay River Oil Sands Project to Cretaceous Oilsands -
                Debt and Cash Management Step by Athabasca - Deal
                              Analysis from GlobalData
        Reference Code: GDGE0353M&A                                                                                               Publication Date: January 2012


        1         Table of Contents
        1 Table of Contents.................................................................1
         1.1 List of Tables .................................................................1
         1.2 List of Figures ................................................................1
        2 Athabasca Oil Sands to Sell Remaining 40% Interest in
          MacKay River Oil Sands Project to Cretaceous Oilsands ....2
         2.1 Deal Overview ...............................................................2
         2.2 Deal in Brief ...................................................................2
         2.3 Background of the Deal .................................................2
         2.4 Athabasca Oil Sands Selling its 40% Stake in the
              MacKay Joint Venture to Increase Cash Flow and
              Reduce Interest Burden ................................................2
         2.5 PetroChina is Expanding its Operations Globally ..........5
         2.6 Deal Financials and Valuations .....................................7
        3 Appendix ..............................................................................8
         3.1 Methodology ..................................................................8
         3.2 Contact Us.....................................................................9
         3.3 Disclaimer......................................................................9

        1.1       List of Tables
        Table 1:   Athabasca Oil Sands, Asset Transactions, 2009 -
                   January 3, 2012 ........................................................4
        Table 2: PetroChina and Subsidiaries, Investments, 2009 -
                   2011 .........................................................................6
        Table 3: Companies Involved ....................................................7
        Table 4: Financials of the Deal ..................................................7
        Table 5: Target Information .......................................................7
        Table 6: Acquirer Information ....................................................7
        Table 7: Vendor Information ......................................................7

        1.2       List of Figures
        Figure 1: Athabasca Oil Sands, Canada, Cash and Interest,
                  CAD millions, 2010 Q2 – 2011 Q3............................2
        Figure 2: Athabasca Oil Sands, Canada, Key Oil Sands
                  Areas, 2011 ..............................................................3
        Figure 3: Toronto Stock Exchange, Athabasca Oil Sands,
                  Share Price, April 08, 2010 - January 09, 2012 ........5




                                                                                                                                                GDGE0353M&A / JAN 2012
Athabasca Oil Sands to Sell Remaining 40% Interest in MacKay River Oil
                                                                                                                                                                      Page 1
Sands Project to Cretaceous Oilsands: Debt and Cash Management Step
                                                                                                     © GlobalData. This report is a licensed product and is not to be copied,
by Athabasca
                                                                                                                                   reproduced, shared or resold in any form
                                                                            On January 3, 2012, Athabasca Oil Sands used the Put option
                                                                            to sell its remaining 40% stake in MacKay Joint Venture to
        2       Athabasca Oil Sands to Sell Remaining                       Cretaceous, for a cash sum of CAD 680m ($666.46m) and full
                40% Interest in MacKay River Oil                            settlement of the two loans provided by Cretaceous.
                Sands Project to Cretaceous Oilsands
                                                                            2.4       Athabasca Oil Sands Selling its 40% Stake
        2.1    Deal Overview                                                          in the MacKay Joint Venture to Increase
        Deal Type:                   Asset Transactions                               Cash Flow and Reduce Interest Burden
        Deal Status:                 Announced                              Athabasca Oil Sands made a strategic decision to sell its 40%
                                                                            stake in the MacKay Joint Venture, aiming to increase its cash
        Announced Date:              Jan-03-2012                            flow and reduce the interest burden. The interest burden of the
                                                                            company increased from CAD 6.4m June 2010 to CAD 7.3m
        2.2    Deal in Brief                                                September 2011, while the cash balance decreased from CAD
        Athabasca Oil Sands Corporation (Athabasca Oil Sands), an oil       825.1m in June 2010 to CAD 336.9m in September 2011. The
								
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