Athabasca Oil Corporation has filed its Annual Information Form dated March 28, 2013.

Athabasca is also pleased to report the highlights of an independent reserves and resources evaluation, conducted by GLJ Petroleum Consultants Ltd. and DeGolyer MacNaughton Canada Limited, of the Company's thermal and light oil assets, at December 31, 2012.

Highlights include:

•Reclassification of 51 million barrels ("bbl") of Hangingstone's probable bitumen reserves to the proved reserve category, based upon receipt of regulatory approvals and project sanctioning by the Company's Board of Directors; •Contingent bitumen resources (best estimate) increased, year-over-year, by approximately eight percent to 10.6 billion bbl of bitumen; •Proved plus probable bitumen reserves increased over the previous year's estimate of 339 million bbl of bitumen (net of the disposition of the MacKay River Joint Venture), to an estimated 342 million bbl; and •Light oil reserves increased by approximately 139 percent, year-over-year, from 9.2 million barrels of oil equivalent ("boe") of proved plus probable reserves to 22.0 million boe proved of plus probable reserves.

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