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Friday, August 31, 2012

Industry Sources Expect Waive Of Foreign Transactions in Canadian Energy Patch



Penn West has something in the pipe that will be over a billion, I wonder which other unconventional player has something?
"Industry sources say the recent deals could mark the beginning of a large wave of foreign investments and acquisitions in the Canadian energy sector. These sources said that state-owned or private companies from South Korea, Russia, China and emerging Asian nations are currently in discussions with a number of Calgary-based companies.
“It is very, very busy right now. There is a lot of intensity on the acquisition front,” said Brock Gibson, Calgary-based chairman of Blake Cassels & Graydon LLP. Mr. Gibson declined to discuss specific transactions, but said his law firm has not seen so much deal activity since the mid-2000s. The increased interest puts pressure on the Harper government to clarify its stance on foreign investment in the energy sector."

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