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Athabasca Oil Corporation Announces 2021 Second Quarter

  (1)   Refer to the “Reader Advisory” section within this news release for additional information on Non-GAAP Financial Measures and production disclosure. (2)   Includes realized commodity risk management loss of $17.8 million and $38.9 million for the three and six months ended June 30, 2021 (three and six months ended June 30, 2020 - $24.4 million and $45.9 million gains). (3)   Includes available credit under Athabasca’s Credit Facility and Unsecured Letter of Credit Facility (see page 14 of the Company’s Q2 MD&A). (4)   The face value of the 2022 Notes is US$450 million. The 2022 Notes were translated into Canadian dollars at the June 30, 2021 exchange rate of US$1.00 = C$1.2394 (December 31, 2020 – C$1.2732). Operations Update

Athabasca Oil Corporation Announces 2020 Year-end Results

  (1)  Refer to the “Reader Advisory” section within this press release for additional information on Non-GAAP Financial Measures and production disclosure. (2)  Includes realized commodity risk management loss of $9.4 million and gain of $29.1 million for the three months and year ended December 31, 2020, respectively (three months and year ended December 31, 2019 - $2.1 million loss and $44.0 million loss). (3)  Includes available credit under Athabasca s Credit Facility and Unsecured Letter of Credit Facility (see page 15 of the MD&A). (4)  The face value of the 2022 Notes is US$450 million. The 2022 Notes were translated into Canadian dollars at the December 31, 2020 exchange rate of US$1.00 = C$1.2732 (2019 – C$1.2965). Operations Update Thermal Oil

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