Canadian Mining Journal

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MERGER: Total drops bid for UTS

CALGARY - Total SA of France has dropped its bid to acquire UTS Energy that was to be carried out by Total E&P Cana...


CALGARYTotal SA of France has dropped its bid to acquire UTS Energy that was to be carried out by Total E&P Canada. The offer expired at 8 pm EDT on April 27, 2009. All UTS shares that were tendered will be returned to the owners.

 

UTS holds a 20% share of the Fort Hills oil sands project along with Petro-Canada (60%) and Teck Resources (20%)

 

Total (www.Total-EP-Canada.com) holds a 74% interest in the Joslyn project, 50% of the Surmont lease and 50% of the Northern Lights project.


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