RE: clearwater They sold their conventional O/G assets in Alberta and BC, not their unconventional assets (ie oilsands). They traded their conventionals for 100k cash and additional assets in said oilsands (ie strengthening their position). Although the leases are not contiguous with their current properties, it would seem to me that AOS means to hold onto them basically flip them when oilsands production ramps up again (as they would be accretive to various other players such as Nexen).
Seems like they're planning a simple property flip come keystone or northern gateway. A good move imo, not only does it save them quite a bit of upkeep capital (on order of 3/4 a mil/year), but it shows that they are finally getting focused on the plays that matter. Should be a good move for the shareholders (of which I am one), finally we are on the right track here. I have honestly been hating on this company as a shareholder for the past year, and myself voted to throw out the management, but they have been making some strong strategic moves lately. I've been proven wrong on everything but the stock price, which at this point is the fault of the market, not of AOS.