Athabasca Talks Q3 Montney Ops; Touts 36 MBOEPD in Production

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| Thursday,November 02,2017

Athabasca Oil Corp. reported its Q3 2017 results.

Light Oil – High Margin Liquids-Rich Growth

Production of 7,875 boe/d (54% liquids), representing 108% per share growth over Q3 2016
- Current production of 10,500 boe/d (October estimate)

Placid Montney (70% working interest)

Recent IP30s of 1,206 boe/d (66% liquids) exceed upsized type curve expectation
Currently drilling a 6 well pad that is intended to maintain 2018 Light Oil volumes in excess of 10,000 boe/d

Kaybob Duvernay (30% working interest)

3 well volatile oil pad exceeds type curve with restricted IP30s of 795 boe/d (72% liquids)
Murphy planning to operate two rigs until break-up for significant volatile oil delineation

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