oil-sand oil upgrader west of Bruderheim
The latest and archived news
2007 05 03
Statoil to acquire North American Oil
Stock market announcement, 2007 04 27
Statoil ASA and North American Oil Sands Corporation (NAOSC) announced today
that they have entered into an acquisition agreement whereby Statoil will make
an all-cash offer to acquire all shares of NAOSC at a price of CAD 20 per share.
The total transaction value is approximately CAD 2.2 billion, equivalent to
about USD 2 billion....
Full details of the offer will be included in a takeover bid circular and
related documents which will be filed with securities regulators and mailed to
NAOSC security holders by 15 May 2007.
The transaction is expected to close by the end of the second quarter of
Story — off-site)
2007 03 07
NAOSC's public disclosure document and the proposed Terms of
Reference for NAOSC's proposed upgrader are
now accessible at NAOSC's website.
2007 01 25
NAOSC held an open house in Bruderheim regarding its proposed oilsand
oil upgrader adjacent to and west of Bruderheim.
A large number of residents from Bruderheim and surrounding area
attended. There were so many visitors to the open house that it
became uncomfortably warm in the room (the former Chatterbox and present
Members of FOLC (Friends of Lamont County for Responsible Industrial and
Community Development) engaged individual representatives of NAOSC in
discussions regarding NAOSC's plans for disposal of the waste sulphur
that NAOSC's upgrader would generate. NAOSC has at this time not
addressed the problem of the disposal of waste sulphur in any depth.
NAOSC's plans for waste-sulphur disposal anticipate that the
(unspecified) volumes of waste sulphur created will be disposed in the
world market for waste sulphur. According to NAOSC, except for buffer
storage that will not exceed a capacity of three day's production,
waste-sulphur will not be stored at their plant site.
The NAOSC representatives stated that their waste-sulphur product
(sulphur flakes) will have an advantage over prospects for sales of
sulphur in pellet form (prills) but could not offer any information on
what impact that will have on the prospect of waste-sulphur sales in the
form of prills. It was pointed out to NAOSC that competition for sales in the glutted waste-sulphur market
it is not a good thing, as that would
make sales of sulphur prills increasingly more difficult and thereby
increase the necessity of long-term storage of waste sulphur in blocks.
NAOSC offered to meet with FOLC to discuss the concerns of County of
Lamont residents about the environmental and community impact of its
proposed upgrader. A date for that meeting has not yet been set.