As expected, the Board of Directors issued a press release this morning recommending shareholders reject the Suncor bid, calling the bid 'undervalued' and 'opportunistic'. COS held a brief conference call at 8 AM ET but did not take any questions. Guidance for 2015e has been updated, with production guidance roughly in line with our estimates, and cost guidance for both opex and capex revised lower once again.
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BOARD RECOMMENDS REJECTING SUNCOR BID
- Published:
19 Oct 2015 -
Author:
Michael P. Dunn -
Pages:
4
As expected, the Board of Directors issued a press release this morning recommending shareholders reject the Suncor bid, calling the bid 'undervalued' and 'opportunistic'. COS held a brief conference call at 8 AM ET but did not take any questions. Guidance for 2015e has been updated, with production guidance roughly in line with our estimates, and cost guidance for both opex and capex revised lower once again.