From:
https://www.cbc.ca/news/canada/calga...-oil-1.5159407
Sale shows big loss in investment value of China-backed Alberta oil project
A Chinese company's $817-million investment in a northern Alberta heavy oil project nine years ago has collapsed in value to less than $80 million, based on the price its Canadian partner has negotiated for the sale of its majority stake.
.... CIC made its investment in PROP in June 2010 when Obsidian was a much bigger company called Penn West Energy Trust. Along with its $817 million, CIC bought $435 million worth of Penn West trust units, later converted to shares which Obsidian says appear to have been sold about three years ago.