Wow.....THAT was unexpected....Not really sure WHAT to think about this deal. Does Suncor or Total come out the winner. At first glance looks like Total get out this "undesirable & unwannted" position and walks away like a total bandit. WHY? Did they JUST acquire psrt of the same interest from Teck just a few short months ago for VERY little money? I mean really.........WHAT"S Suncor thinking paying 3X the price for something that Total just got a short time ago from Teck?
Doesn't make sense to me UNLESS Suncor had no choice or say in the matter and there were some incentives or "encouragement" for them to do so. I think the REALLY big winner out of all this saga/drama out of the big three who were involved in this project is Total. So who's the big loser in all of this? Again, at first glance one would think Teck drew the short end of stick BUT in the long run it could be Suncor if things don't work out the way they think.
I bleieve this HUGE transaction & development more or less CONFIRMS that the AER debacle & their "supposed" re-assessment of Sunor's Fort Hills expansion to be nothing but a real "nothing berger" and a ruse, mabye just to appease those that oppose the project AND it more or less GIVES the green light for Suncor to move ahead with it's expansion of Fort Hills. WHY? Because i REALLY don't think for a moment that Suncor mgmt is that dense, dumb or ignorant to make a large commitment like that WITHOUT some "solid" gurantees from the Albertan/Ferderal regulators that this project would be free of any additional hiccups, bumps in the road or any other metaphor you'd like to insert here and should move along smoothly now with NO MORE further delays.
The only thing i'm curious about is the following........Was this Total's plan from the VERY beginning OR did they shift their golas/intentions and something changed in the interim? What i would not give to be a fly on the wall right now in Total's HQ LOL. But my guess is that this was THE INTENT all along and it was planned this way from the start. Becuase it really didn't make ANY logical sense that Total would pick up Teck's interest for no apparent "valid" reason, especially AFTER they've indicated, for some time, they wanted OUT, BADLY, as well from this project which did not conform to their objectives & goals any longer.
What do you guys think?
GLTA