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Canadian Oil Sands' (COSWF.OB) Q4 EPS fell to C$0.46 from C$0.48, while cash flow improved to...

  • Friday, February 1, 10:13 AM ET
    Canadian Oil Sands' (COSWF.OB) Q4 EPS fell to C$0.46 from C$0.48, while cash flow improved to C$0.86/share from C$0.75. COS projects 2013 cash flow at C$2.16/share, below 2012's C$3.26. CEO Marcel Coutu says COS is looking at acquiring Murphy Oil’s (MUR) stake in the Syncrude project; MUR wants to sell its 5% stake, which produced 299 bbl/day in Q4.
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    It'll be very interesting to see what Murphy's stake in the Syncrude consortium sells for. When Conoco put up their stake for sale, it was generally assumed that Canadian Oil Sands Ltd. would be the buyer. Then Sinopec came in with a much higher bid. If you look at the price that Sinopec paid for the Conoco stake, and apply the same metrics to Canadian Oil Sands' stake, you get a price per share for Canadian Oil Sands about double current market. Once the sale of Nexen to CNOOC is closed, there will be two Chinese companies with stakes in Syncrude.

    Long COSWF (for a long time)
    1 Feb, 02:54 PM Reply Like
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