Alberta Oil Sands Heating Up.

0 Comments | M2 Presswire, May, 2006

M2 PRESSWIRE-10 May 2006-Axcess News: Alberta Oil Sands Heating Up(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:10052006 (SP) Toronto - Action in the Alberta oil sands arena is heating up. Monday, one of the largest players in the Alberta oil sands market, Shell Canada Ltd. (TSX: SHC), announced a C$2.4 billion all-cash offer to buy out BlackRock Ventures, Inc.

(TSX: BVI) in a move to become the dominant player in what some see as the next boom in Canada. BlackRock, a junior oil sands company, adds 14,000 bpd to Shell Canada's production and was offered a 27 percent premium to Friday's closing price on the Toronto Stock Exchange. Clive Mather, Shell Canada's chief executive, called BlackRock a "prime target" for his company, pointing out that BlackRock's...