Athabasca Oil Provides Alberta Wildfire Update

CALGARY, Alberta, May 16, 2023 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) advises that due to the ongoing Alberta wildfires, the Company has shut-in two of its facilities at Kaybob within its Light Oil operations. The facilities have been shut-in as a precautionary measure due to changing wildfire conditions and the Company is not aware of damage to its well sites or associated infrastructure. The Company estimates ~2,300 boe/d of temporary production downtime. The situation is dynamic and production will be restored when the area is safe and the Company is permitted to do so.

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