11:59 AM EST - Petrobank Energy and Resources Ltd. : reported that it plans to take full control of its subsidiary, Whitesands Insitu Ltd. Petrobank, which already owns 84 per cent of Whitesands, will buy all of the remaining shares from minority shareholders in a deal worth $120 million. The transaction is expected to close by June 11. Calgary-based Petrobank is an oil and natural gas exploration and production company with operations in Western Canada and Colombia. Whitesands owns about 16,000 hectares of oil sands leases. Petrobank Energy and Resources Ltd.
shares PBG:CA are trading down thirty six cents at $23.85.
