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Athabasca finally closes deal to sell Dover project

Athabasca oil finally got at least some of its payout for the Dover oilsands project.

PetroChina paid $600 million dollars up front to takeover the project, a deal that was made four months ago.

But since the agreement was made, the total payout was reduced to $1.184 billion dollars, with half of the money coming in a series of payments over the next two years.

In a news release, Athabasca says closing the deal is an important milestone and its time to move on the other strategies.