CALGARY — Total 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.