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Canada Southern Petroleum (CSPLF) Message Board

  • numbersman61 numbersman61 Aug 1, 2006 8:14 AM Flag

    I'm surprised!!! - only 35%

    CALGARY, Aug. 1 /CNW/ - (TSX - COS.UN) - Canadian Oil Sands Trust (the
    "Trust") today announced that its wholly owned subsidiaries, Canadian Oil
    Sands Limited and 1212707 Alberta Ltd. ("Canadian Oil Sands"), have extended
    the expiry date for its all-cash offer of US$13.10 per common share for all of
    the outstanding common shares of Canada Southern Petroleum Ltd. ("Canada
    Southern") (NASDAQ:CSPLF / TSX:CSW) not already owned by Canadian Oil Sands
    from Tuesday August 1, 2006 to midnight (mountain daylight time) on Friday
    August 18, 2006, unless further extended or withdrawn. Canadian Oil Sands will
    mail a formal notice of extension to all Canada Southern shareholders.
    All other terms and conditions of Canadian Oil Sands' offer for Canada
    Southern described in its offer and circular and related materials dated
    June 26, 2006, and as amended by notices of variation dated July 5, 2006 and
    July 14, 2006, remain unchanged.
    As of July 31, 2006, approximately 5.2 million common shares of Canada
    Southern have been validly deposited under Canadian Oil Sands' offer,
    representing approximately 35 per cent of the outstanding common shares of
    Canada Southern. Canadian Oil Sands' offer is subject to a minimum tender
    condition of 66 2/3 per cent.
    Canada Southern shareholders with questions, requests for copies of the
    documents, or requiring assistance in tendering their shares, please call D.F.
    King & Co. Inc. at 1-800-901-0068. All documents related to Canadian Oil
    Sands' offer are also available on the Trust's website at:
    http://www.cos-trust.com/investor/.
    Canada Southern has announced that its Board of Directors, after
    consultation with its legal and financial advisors, and upon receipt of an
    opinion from CIBC World Markets Inc., has unanimously determined that Canadian
    Oil Sands' offer is fair, from a financial point of view, to the Canada
    Southern shareholders and recommends that shareholders accept the Canadian Oil
    Sands' offer.

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