UPDATE 3-Statoil plans more Canada exploration after big find
The agency says the increase equals the one observed between July 1, 2011, and July 1, 2012 and is similar to the average annual gains over the last 30 years. It says the latest population estimate is based on the 2011 census counts, adjusted for census net undercoverage and incompletely enumerated Indian reserves. Ontario is home to 38.5 per cent of the population, a slight increase from its share of 35.6 per cent in 1983. Second on the list is Quebec with 23.2 per cent, B.C. with 13 per cent and Alberta with 11.4 per cent. Canadas population growth rate is at 1.2 per cent this year, unchanged from last year. Most of that growth comes from immigration. The report says population growth for the year ending last June 30 was lower in the Atlantic provinces and negative in Nova Scotia, while generally higher in the western provinces. Alberta’s estimated population grew by 3.4 per cent, mainly due to international and interprovincial migration. The low growth in the Atlantic provinces is attributed to a low rate of natural increase and interprovincial migration losses, which reached a six-year high. Over the last 30 years, the population of Ontario grew almost twice as rapidly (39.8 per cent) as that of Quebec (21 per cent). With files from Star staff Top News
That includes patents worth about $1.6 billion, its network of secure servers that may fetch $825 million and licenses worth about $400 million, said Li. The network of secure servers, which BlackBerry operates on behalf of its business clients, are sought after because they offer a level of security for e-mail transmissions that other devices cant provide. U.S. government agencies remain a customer of BlackBerry for that reason. BlackBerrys patent portfolio includes trademarks on smartphone designs and engineering as well as a share of 6,000 patents BlackBerry acquired, as part of a consortium, for $4.5 billion from bankrupt Nortel Networks Corp. in 2011. While revenue the Waterloo, Ontario-based device maker gets from subscriber services fees reached $794 million in the fiscal first quarter, thats come under pressure from carriers no longer willing to pass those charges on to their subscribers. As of June, the company had 72 million subscribers, down from 76 million in the previous three months. Three Companies I think thats probably the only way it will work — if they try to team up to buy part of the portfolio, Taylor said in a phone interview. No one wants to run the hardware business. Watsa, who models his investment style after billionaire investor Warren Buffett, said the group is still seeking financing for the offer, which will be subject to due diligence and further negotiation. It would be best if it were three companies: intellectual property, BlackBerry messenger and the services business, Stadtler said in a phone interview from Fort Worth, Texas. To maximize the value for the pension funds, you make those three different businesses. Of the Canadian pension managers, Toronto-based Ontario Teachers held the most BlackBerry stock, with 1.97 million shares at June 30 worth C$16.3 million yesterday, according to data compiled by Bloomberg. Ontario Teachers is Canadas third-largest pension fund; Alberta Investment ranks fifth by assets. Past Investments Ontario Teachers has made technology investments in the past.
“This is the biggest Statoil-operated oil discovery outside Norway, so it’s a pretty big day for us,” Statoil exploration chief Tim Dodson said on Thursday. There are currently three major oil projects off the Newfoundland coast: Hibernia, Terra Nova and White Rose. All are located in the Jeanne d’Arc Basin, 350km (200 miles) southeast of St John’s. In total, they produced around 197,000 barrels per day last year, and a fourth development, Hebron, is scheduled to start operating in 2017. While the latest Statoil find is a significant discovery for offshore Canada, it pales in comparison with output from the country’s oil sands, in Alberta, where production is forecast to hit 5.2 million barrels a day by 2030. Statoil, once a domestic focused explorer, has expanded rapidly over the past decade and recently made big discoveries in Brazil, Tanzania, the North Sea and the Norwegian Arctic. The Bay du Nord discovery is in addition to the nearby Mizzen find, which could contain up to 200 million barrels of recoverable oil, and the Harpoon discovery, which still needs to be evaluated. Analysts said the latest discovery could add between 1 and 3 crowns to the Statoil share price, which would raise the company’s market value by between $530 million and $1.59 billion. “This is an area with relatively favorable tax conditions and although there is deep water, I think this might be worth about 4 dollars per barrel and in excess of 2 Norwegian crowns per Statoil share,” said Anne Gjoeen, an oil sector analyst at Handelsbanken. MORE TIME Analysts at Deutsche Bank valued the discovery at 3 crowns a share with potential upside. The stock was up 1.2 crowns, or 0.9 percent, at 138.0 at 0931 GMT, outperforming a 0.1 percent fall in the European oil and gas sector. The stock has gained 6 percent over the past month, the most among European majors, according to Thomson Reuters data. Statoil will need more time to evaluate the discovery and its efforts could be slowed by ice conditions in the area. “Rig availability is an issue here as there are only certain rigs which can perform this activity,” Dodson said.