Reuters: Mergers News: Cenovus extends search for Telephone Lake partner

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Cenovus extends search for Telephone Lake partner Apr 25th 2012, 15:34 CALGARY, Alberta, April 25 | Wed Apr 25, 2012 11:34am EDT CALGARY, Alberta, April 25 (Reuters) - Cenovus Energy Inc said on Wednesday it is still searching for a joint-venture partner for its planned Telephone Lake oil sands project in northern Alberta. Brian Ferguson, the company's chief executive, said on a conference call that current market conditions, in which oil sands crudes are selling at a significant discount to North American benchmark prices, has made the search for a partner more difficult. He added that the company is not in a rush to complete a transaction.

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