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Gold/Mining/Energy : Oil Sands and Related Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Mac who wrote (4689)	12/6/2005 10:15:36 AM
From: Metacomet	Read Replies (1) \| Respond to of 25575

I'm not that heavy in CLL, darn it. I need ETG to move to make that claim..... ------------------------------------------------------------ an article from greatfallstribune.com, published Dec 6, 2005 Canadian oil company to discuss purchasing Montana Refining By JAMES E. LARCOMBE Tribune Business Editor A Canadian oil company is eyeing a purchase of the Montana Refining Co. in Great Falls, the refinery's owner said Monday. Dallas-based Holly Corp. said it has an agreement with Connacher Oil and Gas Limited, a Calgary company, to discuss a possible sale of the Great Falls refinery. There is no sale deal, Leland Griffin, the refinery manager, said late Monday. "The company has approached our corporate people and said they might be interested in buying Montana Refining," Griffin said. "We could be sold, but we are a long way from that at this point." Efforts to reach officials from Holly and Connacher were unsuccessful late Monday. Montana Refining is a very small oil refinery by industry standards, processing about 8,000 barrels of oil per day. It employs about 100 permanent and temporary workers. The Great Falls refinery is one of three operated by Holly Corp. The other larger refineries are in Artesia, N.M., and Woods Cross, Utah. The company also owns interest in oil pipelines in Texas, New Mexico and Oklahoma. Shares in Holly Corp. trade on the New York Stock Exchange. Connacher, according to its Web site, is an oil and gas exploration company that has extensive holdings of oil-sands leases in the area of Fort McMurray, Alberta. It also has conventional oil production operations in Saskatchewan. The company doesn't appear to own any oil refineries. Connacher shares trade on the Toronto Stock Exchange. Griffin said the public ownership of shares is what prompted the disclosure of Connacher's interest in the Great Falls refinery. No offer has been made to Holly, he said. "This is just an exploratory move on their part," Griffin said of Connacher. "We have no idea where it is going."