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Financial Post (Canada): Western Oil Sands eyed by Total, Royal Dutch Shell and Texaco: report

15 June 2007

Paris-based oil giant Total S.A. has reportedly hired Merrill Lynch & Co. as an adviser on a possible bid for Western Oil Sands Inc. (WTO/TSX), according to La Lettre de l’Expansion.

Royal Dutch Shell Plc and Texaco Inc. are also said to be interested in the Canadian company, which has a 20% stake in the Athabasca Oil Sands Project, a Bloomberg News report said, citing the French newspaper.

While a representative from Total declined to comment on the rumour, the company’s shares climbed to a record high on Friday.

In February, Western Oil Sands said Goldman Sachs Group Inc. and TD Securities Inc. would be working as advisors on a possible merger, acquisition or sale of assets, Bloomberg reported.

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