Athabasca Oil Corp raises capital budget says CEO to retire

CALGARY — Athabasca Oil Corp. says its president and chief executive officer will retire on Sept. 30.CEO Sveinung Svarte has been at the helm of the Calgary-based company since 2006. He will remain on the company’s board of directors as vice chairman and will also continue to be involved in business development for Athabasca.Board chairman Tom Buchanan will assume Svarte’s executive duties. “Since 2006, under his leadership Athabasca has grown into a $3 billion company with an extensive portfolio of world class resource assets in both light oil and thermal oil. We look forward to his continued involvement as a valued member of the board,” Buchanan said in a news release on Monday.Also, the company’s board of directors has approved an increase of $140 million to Athabasca’s 2014 capital budget, bringing the total to $667 million. Athabasca says it’s also maintaining its guidance range of 6,000 to 6,500 barrels of oil equivalent per day for the second half of 2014.Athabasca recently sold its stake in the Dover oilsands project to a Canadian unit of PetroChina, which will bring proceeds of $1.184 billion, $600 million of which has already been paid in cash. The company has said it will continue developing its holdings in Alberta’s promising Duvernay shale and the Hangingstone oil sands project. read more

Runner takes names with fundraising cancer run

Diana Panter will wear a T-shirt bearing the names of Brock friends and loved ones who have battled cancer.Diana Panter knows some of the names of people who have been touched by cancer.She’s seen co-workers’ lives impacted by the disease. She’s watched the struggles of her mother, her cousin and her mother’s cousin enough to know that behind the statistics are the identities of family and friends and the people who care for them.Panter will take some of their names on the road with her when she does the Rankin Cancer Run on May 29. She will join Brock’s Community Connections team to run five kilometres through St. Catharines raising money for cancer research. She will run wearing a T-shirt covered in names collected from the Brock community.“I want to show how many people it’s touched,” said the publications and Convocation events assistant in the Office of the Registrar. “If people haven’t experienced it directly, usually they have a friend or relative it’s touched. This is just a way to acknowledge that.”Some of the names represent people who have survived cancer. Others are relatives Brock employees have lost. Some are full names, while others are less specific, like “Anna” or “Grandma K.”Panter has more than 50 names so far. She’d like to get more. She may drop off the T-shirt at various departments to have them add names, she said. She can also be contacted at 905-688-5550 x3429, or dpanter@brocku.caThe Brock team still needs runners or walkers. Anyone interested can email Jamie Wheeler at jw05qt@brocku.ca and include their T-shirt size. Participants can also sign up online at secure.rankincancerrun.com/register/member and join the Brock University team.Participants can run or walk one kilometre or five kilometres. In the past four years, the run has raised $1,380,000.Link:• The Rankin Cancer Run — All for Niagara read more