CALGARY, Alberta, Oct 29 (Reuters) - Canadian Oil Sands Ltd
COS.TO , the biggest shareholder in the Syncrude project, on
Thursday reported a third-quarter net loss, mainly due to
unrealized foreign exchange losses on U.S. dollar-denominated
debt.
Canadian Oil Sands posted a loss of C$174 million ($132.22
million), or 36 Canadian cents per share.
That was below the average analyst expectation of a loss of
22 Canadian cents per share, according to Thomson Reuters
I/B/E/S.
COS realized a synthetic crude oil selling price of C$60.20
per barrel compared with C$102.58 per barrel in the same 2014
quarter.
Cash flow from operations, a key indicator of the company's
ability to pay for new projects and drilling, fell to C$82
million, compared to C$302 million in the same quarter of 2014,
largely reflecting the lower synthetic crude price.
The company is resisting a hostile takeover bid from Suncor
Energy SU.TO , Canada's largest oil and gas producer, and said
in a statement on Thursday that the offer was "wholly
inadequate," and "entirely opportunistic."
($1 = 1.3160 Canadian dollars)