|
Calgary oilman involved in million-dollar dogfight
Gary Park Petroleum News Calgary Correspondent
Running a C$7.4 billion global oil enterprise fades into insignificance for Allan Markin compared with retrieving his “faithful companion” — Molly.
So he’s taken a leave of absence from his job as chairman of Canadian Natural Resources to sort out “domestic issues,” including divorce proceedings with his estranged wife Jacqueline Flanagan, and pursue a C$2 million legal action against his stepson Zakary Pashak to get Molly back.
And who is Molly? She’s a nine-year-old Dalmatian and Markin, in a court affidavit, alleges she has wrongfully been in the possession of Pashak since June.
Markin said he fears for the pooch’s well-being.
“Molly is invaluable to me,” he said in the court filing. “However, I understand that for the purposes of this action I must assign a dollar value to Molly,” he said.
Accordingly, he is seeking a declaration that the dog belongs to him — or C$1 million in damages for conversion of the dog to Pashak’s possession and an additional C$1 million in general damages.
Markin said that in conjunction with the divorce proceedings he believes Pashak removed Molly from his care “for the purposes of hurting me ... if this was the purpose of the defendant, he has succeeded.” Markin expected back by October Meanwhile, Canadian Natural — better known by its stock symbol CNQ — said Markin is expected to resume his day-to-day duties “no later” than Sept. 30, giving him until then to sort out his woes, while leaving investors and analysts to scratch their heads.
Taking the pending divorce and dog fight so public has set off a buzz over his future at CNQ, which has operations in Western Canada, the United Kingdom North Sea and West Africa, and on Aug. 6 announced it was proceeding with an C$8.5 billion oil sands project in northern Alberta.
Markin and oil patch entrepreneur Murray Edwards — both of whom are also co-owners of the Calgary Flames of the National Hockey League — are credited with turning CNQ from a penny stock in the late 1980s into a high-flying enterprise.
But the level of Markin’s long-term commitment to the company has shown signs of wavering lately.
He entered 2003 as CNQ’s largest individual shareholder, but has since shed nearly 1 million shares, worth about C$55 million at current trading values, leaving Edwards as the dominant stakeholder with 2.5 million shares. Edwards was also recently elevated to vice chairman of CNQ.
Industry sources say Markin has also talked lately about taking a major stake in Hawker Resources, a junior oil and gas company launched by David Tuer, who resigned abruptly last year as chief executive officer of PanCanadian Energy before it merged with Alberta Energy Co. to form EnCana.
| 