Saturday, September 10, 2005

Mind if we dance with your dates?

"Why, yes. We do." Frenchie said, as his arm tightened around his young hottie.

Sorry, missed this. Kind of busy lately.

Bloomberg: Total Raises Bid for Deer Creek to C$1.67 Billion.


Total SA, the world's fourth-largest oil company, raised its bid for Canada's Deer Creek Energy Ltd., an oil-sands producer, to C$1.67 billion ($1.41 billion) to match a competing offer.

Total, based in a Paris suburb, raised its offer by 24 percent to C$31 per share from C$25 a share on Aug. 2, the company said in a statement.

High oil prices are encouraging companies including Exxon Mobil Corp and Royal Dutch Shell Plc to spend billions to boost output from deposits of oil-soaked sand buried under northern Alberta, the largest source of oil outside of the Middle East. Increased oil demand from the U.S., India and China have contributed to oil prices climbing to a record $70.85 a barrel on Aug. 30.

``There are very attractive features about oil-sands projects,'' Mark Friesen, an analyst with Calgary brokerage FirstEnergy Capital Corp., said today in a telephone interview. ``These are great projects. There's no decline in production, no geological risk in a politically stable area in a world that questions where the next barrel of supply is going to come from.''

The competing bid may have come from a Chinese company as the Asian nation with the fastest-growing economy in the world is scouring the globe to lock up oil supply, said Friesen, who does rates Deer Creek as `underperform' and doesn't own any.

PS. Yeah, yeah, the quote is from Animal House and Frenchie is from Grease, and was a woman. Oh well..