UTS Energy* (UTS : TSX : $5.69), Net Change: 0.37, % Change: 6.95%, Volume: 5,750,911

“Knock, knock!” “Who’s there?” UTS was beaten down to as low as $4.26 a share when the market had its meltdown on

January 21. On Friday, UTS broke above its 50- and 200-day moving averages - that’s positive right? Trading at roughly 0.8x

Canaccord Adams’ Net Asset Value of $7.47 a share, the company has been the regular topic of takeover chatter. UTS is the

most advanced of the emerging oil sands companies. The company continues to add shareholder value by partially

demonstrating the bitumen potential on its exploration lands. Preliminary indications suggest that the opportunities are large

enough to replace twofold the barrels given up under the earning provisions of the Fort Hills Partnership. There is additional

exploration acreage yet to be evaluated outside of the recently explored areas around Lease 311 that offers more opportunity for

UTS. The coming year will be full of news events related to more resource definition and sanctioning of the Sturgeon County

Upgrader. If someone came knocking, what would Petro-Canada (PCA) and Teck Cominco (TCK.B) do?