01 Dec 2015
2016E GUIDANCE AND ASC DECISION ON RIGHTS PLAN
Market Impact: Likely negative given heightened risk that Suncor may or may not extend its bid to January 4th. However we fully expect Suncor's interest in acquiring COS will remain, and we expect Suncor to extend its bid. COS's 2016 cost guidance was in line with our forecasts, while capex guidance was lower than consensus.