FulhamFC

CIBC Analyst: Current Market Sell-Off Rare Opportunity to Create Value

Nexen Inc. chief executive Charlie Fischer confirmed Thursday in an interview with the Herald that a decision to expand its 70,000-barrel-per-day Long Lake oilsands project has been put on the backburner due to the volatility on world energy markets.
The company's board was to consider a second phase in the fourth quarter, but Fischer said it has been delayed indefinitely and probably won't come up again before 2009.
The Long Lake thermal oilsands project will officially open next week.

CIBC Analyst: Current Market Sell-Off Rare Opportunity to Create Value

Nexen (NXY) started a buy back Oct 8 and it looks like they ahead of the curve. Marvin Romanow was "2007 CFO of the year" and its times like this that is shows.