Birchcliff is for sale

Article Excerpt

BIRCHCLIFF ENERGY $14.10 (Toronto symbol BIR; TSINetwork Rating: Speculative) (403-261-6401; www.birchcliffenergy.com; Units outstanding: 126.5 million; Market cap: $1.8 billion: No dividends paid) develops, produces and explores for oil and natural gas, mainly in the Peace River Arch area near the Alberta/B.C. border. Birchcliff has hired advisors to help sell the company after it received expressions of interest from a number of parties. These potential buyers could include Asian investors. Right now, Birchcliff’s management owns 5% of the company. Prominent Toronto investor Seymour Schulich is Birchcliff’s largest shareholder, with a 26% interest. Birchcliff Energy is still a buy. buy…