Husky bids for Mohawk

Article Abstract:

Husky Oil Ltd. of Calgary, Alberta, plans to acquire Mohawk Canada Ltd. for C$94 million to double the number of service stations it operates in Canada. The company made a cash offer for Mohawk through HB Acquisitions Inc., a joint venture which is 91% owned by Husky and 9% by Balaclava Enterprises Ltd. of Vancouver, Canada. The acquisition would increase Husky's gasoline stations from 330 to 630, with most of the stations located in Western Canada. Meanwhile, Mohawk's co-founder Hugh Sutherland of Victoria will tender his 42% stake. Mohawk's board of directors has also recommended that shareholders accept Husky's offer.

Comment:

Plans to acquire Mohawk Canada for C$94 million to double the number of service stations it operates in Canada

Gasoline Stations, Service stations (Automotive), Mohawk Canada Ltd.

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Husky plans new projects to extract heavy oil in Alberta

Article Abstract:

Husky Oil Ltd. of Calgary, Alberta, has released documents detailing plans of starting major projects to extract tar-like bitumen on oil sands located on 33,600 hectares of undeveloped land leases in the Cold Lake and Athabasca regions. A prospectus sent to investors, who acquired the firm's recent offering of $225 million in debt securities, said Husky believes large amounts of butimen are buried deep in the northern part of the province. Husky said formerly-postponed pilot projects were re-evaluated due to technological breakthroughs for steaming out bitumen.

Comment:

Releases documents detailing plans for projects to extract tar-like butimen on oil sands on 33,600 hectares in northern Alberta

All Other Basic Organic Chemical Manufacturing, Natural resources, Bitumen, Bituminous materials

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Big Bear can rescue Blue Range, investment dealer believes

Article Abstract:

Big Bear Exploration Ltd is capable of raising enough money to continue the operations of Blue Range Resources Corp, according to Big Bear's investment adviser, Griffiths McBurney & Partners. The insolvent Blue Range was taken over by Big Bear in December 1998 for C$200 million. Griffiths McBurney & Partners wrote the Alberta Court of Queen's Bench, saying the recent rally in oil and gas markets will allow Big Bear to secure between C$50 million and C$100 million in financing.

Gold Ore Mining, Gold Mines, Blue Range Resources Corp.

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