CALGARY, ALBERTA--(Marketwired - April 19, 2017) - Athabasca Oil Corporation (TSX:ATH) ("Athabasca" or the "Company") advises that on page 3 of its Information Circular - Proxy Statement dated March 24, 2017 ("Circular"), which was filed on SEDAR on April 3, 2017, the Company mistakenly stated that no person or company beneficially owned or controlled more than 10% of the outstanding common shares of Athabasca as of March 24, 2017. As reported in an Early Warning Report filed by Statoil Canada Ltd. ("Statoil") on February 2, 2017 on SEDAR, Statoil beneficially owned, and continues to own, 19.7% of the outstanding common shares of Athabasca.

About Athabasca Oil Corporation

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta's Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca's common shares trade on the TSX under the symbol "ATH". For more information, visit

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Matthew Taylor
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