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TOURMALINE OIL CORP. $18 is a hold. The company (Toronto symbol TOU; Resources sector; Shares outstanding: 272.3 million; Market cap: $4.9 billion; Dividend yield: 3.1%; Takeover Target Rating: Medium; www.tourmalineoil.com) is a Canadian oil and natural gas exploration, development and production company. Its properties are concentrated in central Alberta and northeast B.C. On October 26, 2020, Tourmaline completed an initial public offering of shares in its Topaz Energy Corp. (Toronto symbol TPZ) unit. That firm earns royalty payments from oil and gas drillers, including Tourmaline, on properties in Alberta and B.C. It also holds interests in gas processing facilities. Tourmaline now owns 51.7% of Topaz. Splitting off Topaz lets the parent unlock some its value and the IPO gives it another way to raise capital. For example, Tourmaline just agreed to pay a total of $770 million in cash and shares for Modern Resources and Jupiter Resources, two privately held oil and gas producers in Alberta. The new properties will increase its…