Canadian Oil Sands Ltd. (fka COSWF)

[OilStockReport]

Speaking oilsands... looks like COSWF is a solid pick.

Canadian Oil Sands (COSWF.PK): If one is looking for a pure play on the oil sands then one must consider COSWF.PK. Canadian Oil Sands is the largest joint venture owner (36.74%) in Syncrude Project. The Syncrude Project is a Joint Venture undertaking among Canadian Oil Sands Limited, and six other companies.

The project’s main goal is to produce crude oil and other substances from the mining and processing of the oil sands, located on leases within the Athabasca Oil Sands Region. Syncrude has approximately 5.1 billion barrels of proven and probable reserves situated on 8 leases over 3 contiguous sites. On the prospective side, it is thought that the total reserves are probably double the proven figure. Syncrude is not publicly traded so for the retail investors the best way to invest is via a company like COSWF.PK. Unlike other companies mentioned here, COSWF.PK is a pure play on the oil sands and the crude it produces. Net income for the first quarter of 2011 rose to C$324 million compared with C$176 million in the first quarter of 2010. The improvement was credited to an increase in production totals and higher crude prices. Sales for the first quarter averaged 121,000 barrels per day compared with 99,000 barrels per day for 2010. As investments in better utilization and efficiency continue, the total barrel count for COSWF.PK will continue to rise for the foreseeable future.