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(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
Alberta Expands World’s Largest Protected Boreal Forest – February 11, 2021
At a news conference in Edmonton, Alberta Premier Jason Kenney announces his government is planning a 143,800-hectare expansion of the protected forest in the Kitaskino Nuwenëné Wildland and turning it into a provincial park. The forest is the largest contiguous protected boreal forest area in the world.
The premier also responds to questions about Alberta’s COVID-19 vaccine rollout. He is joined by Environment and Parks Minister Jason Nixon, Chief Peter Powder of the Mikisew Cree First Nation, and Rob Broen, president and CEO of the Athabasca Oil Corporation.