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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who started this subject10/9/2001 9:23:10 AM
From: Frank Pembleton  Read Replies (1) of 36161
 
Burlington Resources to buy Canadian Hunter for $3.3-billion

By TERRY WEBER
Globe and Mail Update

Houston-based energy firm Burlington Resources Inc. said Tuesday it has launched a $3.3-billion all-cash offer for Calgary's Canadian Hunter Exploration Ltd. — a move that nearly doubles its investment in Canada and continues the U.S. push into this country's oilpatch.

Under the deal, Burlington will offer $53 a share for all of Canadian Hunter's outstanding shares.
globeandmail.com
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