RE: I smell buyout $$take a look at this article regarding YAN's partner..... I AM IN! cheers
CALGARY - The Canadian oilsands saw its largest investment from aChinese player to date, with PetroChina buying a working interest intwo of Athabasca Oil Sands Corp.'s projects for $1.9 billion.
The privately held Calgary firm said Monday that PetroChina plans totake a 60 per cent stake in its MacKay River and Dover oilsandsprojects.
"Oilsands projects are very capital-intensive long-term investmentsand difficult to fully finance in the traditional equity market,"stated Athabasca chair Bill Gallacher.
"AOSC therefore decided to look for joint venture partners, andthese strategic joint venture arrangements with PetroChina, one of theworld's largest energy companies, can ensure that the MacKay River andDover projects will be developed in timely manner."
The deal is slated to close Oct. 31, Gallacher told reporters and investors on a conference call.