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The Canadian Oil Sands Trust (COSWF) is an open-ended investment trust that generates income from its 36.74% interest in the Syncrude Canada Ltd. joint venture, which is the world's largest producer of crude oil from oil sands and the largest single-source producer in Canada.
After falling from more than $50 in July 2008 to less than $15 in January 2009, this trust formed a base and then rallied from February to May before settling down for its next consolidation, a cup-and-handle formation.
A breakout from this very bullish technical feature occurred at $28, followed by a quick run to above $34. But profit-taking has given us a second opportunity to buy into this unique investment.
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Reader Comments (Page 1 of 1)
11-07-2009 @ 12:34PM
OilTrader888 said...
Because of the environmental problems from using primitive heat-based technology to boil oil out of the Canadian oil sands -- companies like Suncor and COSWF will ultimately need to use advanced chemical-based technology that can cleanly extract oil and in an environmentally-friendly way without consuming riverwater supplies or creating toxic tailing pond wastes:
See one such technology: www.EncapSol.com/media
This technology exists right now and already has scaled-up equipment that can do the job better:
See www.EncapSol.com/tar-sands-and-oil-shale-extraction/