Topic: How To Invest

Pat: What is your opinion of UTS Energy and its oil sand project? Thank you.

Article Excerpt

UTS Energy Corp., $2.65, symbol UTS on Toronto (Shares outstanding: 474.5 million; Market cap: $1.3 billion), owns 20% of the Fort Hills oil-sands project. Suncor Energy holds a 60% interest, and Teck Resources owns the remaining 20%. The project consists of certain oil-sands deposits in Alberta’s Athabasca oil-sands region, around 90 kilometres north of Fort McMurray. The partners plan to develop, mine, extract and sell the recoverable clean bitumen from these deposits. Suncor Energy operates Fort Hills. The company continues to assess the project’s scope, budget and schedule. It expects to announce its intentions by the end of 2010. Aside from Fort Hills, UTS owns a 50% interest, with its partner Teck Resources holding the other 50%, in both the Equinox oil-sands mining project and the Frontier oil-sands mining project. Both are located on the west side of the Athabasca River, west of the Fort Hills project. The Equinox project bisects the Pierre River project, which is operated by Shell Canada. Lower…