Connacher Oil & Gas Ltd CLLZF

Mystery buyer pays 465 million for lease!!

[weinerdogbrew]

This was in our Fort McMurray Today on Febuary 17, 2006. No one has yet uncovered the mystery behind the pruchase of 10 parcels of land last Thursday by and Alberta numbered company, "EnCana was not the buyer," the company's incoming cheif financial officer Brian Ferguson said when asked Wednesday during the company's annual meeting Calgary. The province generated $560 million from a record sale of oilsands leases while the oilpatch was surprised by an anonymous buyer who paid close to a half a billion dollars to secure the parcels of land. A numbered company, 1122131 Alberta Inc, paid $465 million for the land. A registries search revealed three calgary directors of the company: Joseph Aiello, Steven Cameron and Geoffrey Jordan. the company was registered in August 2004. But the three individuals' involvement to the sale has not been clearly established. "a lot of the lands in the oilsands and the conventional oil and gas are purchased by the land agents on behalf of companies," said Greg Stringham, vice-president of the Canadian Associotion of Petroleum Producers. He said the location is a bit of a curiosity as is the identity of the unknown buyer or buyers. "This is a move stepping out of the regular oilsands into an area that's called the carbonates, which really just means it's much harder to develop, and right now there's been no exploration, no wells drilled in the entire area," he said. Sringham suggests the buyers may have a new technology they want to test or they found something they believe beneficial with seismic tests. Energy companies oftern use a numbered company or a land agent to acquire land during provincial government sales, which occur every two weeks. The company is under no obligation to disclose any names, so the buyer can remain anonymois for several years. Under provincial regulations, firms have up to 15 years to develop an oilsands property or it reverts back to the government and can be re-sold. [e-mail] I couldn't be bothered to proof read this as it was most likely faster for me to retype it than figure how to cut and pase something scanned! If anyone has any inclination who this private buyer might be just drop me a line in my personal mail, but I will keep diggin! (Sorry for posting twice but I did proof it after, and corrected.) Ken