Canadian Oil Sands Updates on Operations and Financial Results

Canadian Oil Sands Ltd. (TSX:COS) provided an update on its operations and financial results for the three- and six-month periods ended June 30, 2012.

As quoted in the press release:

Cash flow from operations decreased 55 per cent to $245 million ($0.51 per Share) in the second quarter of 2012 from $544 million ($1.12 per Share) in the second quarter of 2011.

Canadian Oil Sands President and Chief Executive Officer, Mr. Coutu, said:

Our strategy has always been to manage a strong balance sheet to support our unhedged crude oil position and even more so during high capex periods such as now.

Click here to read the Canadian Oil Sands Limited (TSX:COS) press release.