PETROCAN FORMS NONCORE UPSTREAM BUSINESS UNIT

Petro-Canada, Calgary, has essentially completed its upstream asset rationalization program with the formation of a new, autonomous business, TroCana Resources. Petro-Canada resources division Pres. Norm McIntyre said, "We created TroCana to generate the greatest economic value from the portion of our asset base best exploited by a small company. Our intention is that at an appropriate time we will sell TroCana and reinvest a significant portion of the proceeds in our core western Canada

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