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Nexen Inc is happy with its current interest in the Long Lake, Alberta, oil sands project, making a further acquisition of Opti Canada Inc’s stake doubtful,

shakehands(买房子了)

Nexen says happy with current oil sands stake
CALGARY, Alberta, Nov 3 (Reuters) - Nexen Inc is happy with its current interest in the Long Lake, Alberta, oil sands project, making a further acquisition of Opti Canada Inc’s stake doubtful, a Nexen official said Tuesday.

Nexen, Canada’s No. 4 independent oil explorer, boosted its interest in Long Lake to 65 percent last year when it acquired 15 percent from Opti. Opti said on Tuesday it would explore alternatives for boosting its share price, including asset sales.

"We have lots of projects in the company that we’re working on and we had our chance to have a good chunk of it back when we did the 15 percent," Nexen spokesman Michael Harris said. "I think if we wanted more then we would have gone for more." (Reporting by Jeffrey Jones; Editing by Steve Orlofsky)

(#116047@43)
Last Updated: 2009-11-3

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OPC.TO: Oil sands developer Opti may opt to sell itself -shakehands(买房子了); 2009-11-3 {1998} (#116042@43)
本文发表在 rolia.net 枫下论坛Oil sands developer Opti may opt to sell itself

* Launches strategic review

* Review may result in sale of company

* No timetable for completion

CALGARY, Alberta, Nov 3 (Reuters) - Canadian oil sands developer Opti Canada Inc said on Tuesday it may put itself up for sale as it launched a review of strategic alternatives to try to boost its flagging share price.

The company, which holds a 35 percent stake in Nexen Inc’s Long Lake oil sands project in northern Alberta, said the alternatives being reviewed by its board could result in a sale or merger of the company, restructuring its debt, or an asset sale.

Opti shares have fallen 42 percent over the past 12 months as Nexen struggles to raise output from the Long Lake project, saying last month that it was unlikely to reach its 60,000 barrel per day capacity until at least 2011.

Opti was also hit by the credit crunch and was forced earlier this year to sell a 15 percent stake in the project to Nexen, making it a smaller partner in a project in which it once controlled a half interest.

Opti said in a release that the improving economy and rising prices for oil sands assets favored remaining independent but its board wants to decide the best course for raising the price of its shares.

The company has hired Scotia Waterous and TD Securities to act as financial advisers.

It did not say how long it would take to complete the review.

Opti shares rose 2 Canadian cents to C$1.90 on Tuesday on the Toronto Stock Exchange. It announced the review after markets closed.

($1=$1.07 Canadian) (Reporting by Scott Haggett; editing by Peter Galloway)

OPTI Canada Inc (OPC:TSX)
Last Price: C$1.90 (11/3/2009 3:59pm ET) Price when alert was set: C$1.58
Company Overview
C$1.90 C$1.90 C$4.50 1.92 Million C$535.33 Million
Last Day High 52 Week High Volume Market Cap
+C$0.02/ +1.06% C$1.77 C$0.61 1.07x -C$1.77
Change/% Day Low 52 Week Low Price/Earnings Earnings Per Share更多精彩文章及讨论，请光临枫下论坛 rolia.net

interesting news. i will watch it tomorrow -gszy(灌水888); 2009-11-3 (#116044@43)
Nexen Inc is happy with its current interest in the Long Lake, Alberta, oil sands project, making a further acquisition of Opti Canada Inc’s stake doubtful, -shakehands(买房子了); 2009-11-3 {833} (#116047@43)
Nexen says happy with current oil sands stake
CALGARY, Alberta, Nov 3 (Reuters) - Nexen Inc is happy with its current interest in the Long Lake, Alberta, oil sands project, making a further acquisition of Opti Canada Inc’s stake doubtful, a Nexen official said Tuesday.

Nexen, Canada’s No. 4 independent oil explorer, boosted its interest in Long Lake to 65 percent last year when it acquired 15 percent from Opti. Opti said on Tuesday it would explore alternatives for boosting its share price, including asset sales.

"We have lots of projects in the company that we’re working on and we had our chance to have a good chunk of it back when we did the 15 percent," Nexen spokesman Michael Harris said. "I think if we wanted more then we would have gone for more." (Reporting by Jeffrey Jones; Editing by Steve Orlofsky)

谢谢 -kafar(挨踢人士888); 2009-11-3 (#116048@43)

Nexen Inc is happy with its current interest in the Long Lake, Alberta, oil sands project, making a further acquisition of Opti Canada Inc’s stake doubtful,

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