Big news on the Canadian oil patch today is the announcement that Penn West Energy Trust (TSX:PWT.UN) is entering a $3.6-billion dollar friendly takeover of Canetic Resources Trust (TSX:CNE.UN) - a combination that would create a considerable light oil producer in Western Canada. Both these trusts are already engaged in separate takeovers, including Canetics buyout of Titan Exploration Ltd. (TSX:TTN.A). Recent price action of PWT.UN and CNE.UN has brought both trusts into the Stock Trends screens for shifting trends: both stocks changed to Weak Bearish in last weeks report.
Stock Trends Report - Penn West Energy Trust (TSX:PWT.UN)
Stock Trends Report - Canetic Resources Trust (TSX:CNE.UN)