GREY:CLLZF - Post by User
Post by
Badger7on Feb 14, 2011 7:09am
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Post# 18127351
Need remind you all
Need remind you all08/05/2006
Royal Dutch Shell plc welcomes Shell Canada Limited's bid to acquire of BlackRock Ventures Inc:
Calgary, Alberta - Shell Canada Limited and BlackRock Ventures Inc. announced that they have entered into an agreement whereby Shell Canada will make an all-cash offer to acquire all of the issued and outstanding shares of BlackRock by way of a take-over bid. The cash price will be $24.00 per share, valuing the transaction at approximately Cdn$ 2.4 billion on a fully-diluted basis. The offer represents a 27 per cent premium over Friday's closing price of $18.88 per share.
"This acquisition is consistent with our growth plan, and BlackRock's assets are an excellent fit with our Peace River in situ assets," said Clive Mather, Shell Canada's President and CEO. "This acquisition will augment our overall oil sands portfolio. It will add 12,000 to 14,000 barrels per day of heavy oil production and provide Shell Canada with access to significant additional resources."
also, remember that Oil Sands are now allowable as proven reserves in USA
mid east hot spots will make Canada look attractive again
Connacher producing more than 12k to 14k per day