CALGARY — Shares of Canada's biggest oilsands companies rose on the stock market Wednesday amid reports that two of the world's richest men - Warren Buffet and Bill Gates - made a surprise visit to Alberta's oilsands earlier this week.
Suncor Inc. (TSX:SU), Canada's oldest oilsands company, gained $2.59 to $58.86, a jump of 4.6 per cent, on the Toronto Stock Exchange.
Meanwhile, Canadian Natural Resources (TSX:CNQ), Canada's second-largest oil and gas company, rose $4.09 to $81.54, a gain of 5.3 per cent in trading of 3.8 million shares.
Canadian Natural hosted the Gates and Buffet tour on Monday at its $9.3-billion Horizon oilsands project north of Fort McMurray, Alta., which is currently being developed.
Greg Stringham, vice-president at the Canadian Association of Petroleum Producers, says the two men asked the industry body to give a general overview of the oilsands and Canada's position in the energy world.
Among other oilsands operators, EnCana Corp, (TSX:ECA) rose $2.48 to $70.42, a gain of 3.7 per cent in trading of 4.8 million shares.
Canadian Oil Sands Trust, the biggest partner in the world's biggest oilsands project, Syncrude, gained $1.22 to $50.06, up 2.5 per cent in trading of 1.2 million shares.
Petro-Canada (TSX:PCA), meanwhile, traded at $46.45, up $1.28 or almost three per cent, on more than two million shares. Its oilsands properties include the 100 per cent-owned MacKay River in situ project.
And Nexen Inc. (TSX:NXY), which is developing its Long Lake project in the Athabasca oilsands region, rose $1.38 to $30,81, a gain of 4.7 per cent on a volume of 2.2 million shares.
Blackjacks summation:::::
Whats not seen or reported is the 13% BQI went up yesterday. This is double the % any AB oilsands stock raised yesterday. Some people are quoting Buffets creed "go to something before its really known". AB is known. Sask (BQI) is not really known yet but, just as good. Some are saying the reason BQI went up double that of AB is----they may be looking at BQI. Remember they did it on the down low. Also, there is a very large short interest on this stock because its early. Real stocks don't stay early forever.
You could lose money trading my calls. All stocks and investments carry risk. Enter at own risk.
You could lose money trading my calls. All stocks and investments carry risk. Enter at own risk.
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