Mon, Feb. 2, 6:24 PM
- Canadian Oil Sands (OTCQX:COSWF) jumped 20% today in Toronto on rumors it could be a takeover target by one of its partners in Syncrude Canada.
- Canadian Oil Sands is the largest shareholder in Syncrude, with a 37% stake, but larger companies such as Imperial Oil (NYSEMKT:IMO) also own major stakes in the venture; the rumors appeared to take flight as IMO parent company Exxon Mobil (NYSE:XOM) signaled today that it would be acquisitive in the current low oil price environment.
- FirstEnergy Capital analyst Michael Dunn says a Canadian Oil Sands “takeout by another Syncrude partner is a distinct possibility should the shares continue to languish."
COSWF vs. ETF Alternatives
Canadian Oil Sands is a pure investment opportunity in light, sweet crude oil. Through our 36.74% interest in the Syncrude project, we offer a solid, robust production stream of fully upgraded crude oil, exposure to future crude oil prices, potential growth through high-quality oil sands leases... More
Other News & PR