RE:why would cos refuse the offer?COS never put itself for sale. SU tried in the spring to be the major owner of Syncrude, however COS told them to go back to the drawing board. SU president believe he is smart so instead of oil going up since it hit $60 it started to drift lower, hence SU found that the share of COS really hit bottom and is probably in a new trend cycle going upward depending on what will happen to the oil supply-demand and all the geopolitical problems in the middle east, not to forget that all the majors cut Capex spending and eventually the oil cycle will find its balance. OIL in general is not good for anyone below $80, that's fact of life. COS doesn't need to sell its land for free, it has the best view.