Excel Funds Management Inc.

Emerging Markets

India Finally Bids for Canadian Energy Assets

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India’s national oil companies have been eyeing Canada’s oil sands for at least a decade. Three of the largest oil companies in India (Oil and Natural Gas Corp, Oil India Ltd and Indian Oil Corp) have made a bid for northern Alberta assets. India (alongside China) boast the highest economic growth rates in the world, as both are net energy importers and both are anticipating dramatic growth in their energy demands over the coming decades. In the year 2000-2003, Indian companies saw the oil sands as being overly expensive and crowded, stating that it was not the right time at the moment. Once the global recession took place the prices of the oil sands had dropped, as did the prices elsewhere in the world so India went to Africa and the Middle East. However, with the energy assets in those regions being under government control, India had shifted its focus back to Canada. Experts state that India had lacked the resources in the past to compete, as a global push for oil sands assets has grown. The Oil and Natural Gas Corporation concentrating on known reserves in stable jurisdictions as demand is expected to continue to increase within India. The bid suggests that the Indian based oil companies have broken free from their financial limitations.

Written by Shamroze K.

Berkow, Jameson. “India Finally bids Canadian Energy Assets.” National Post. N.p., 25 Sept. 2012. Web. 25 Sept. 2012. <http://business.financialpost.com/2012/09/24/india-finally-makes-a-move-on-canadian-energy-assets/>.

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Author: Excel Funds Management

We Are Leaders. Our Focus is Undivided. Excel Funds is Canada’s specialist in Emerging Market investment opportunities. We pioneered Emerging Market mutual fund design and distribution in Canada. Our focus is undivided – Emerging Markets is all we do. Our Mission Is To Offer Canadians True Global Access By offering Canadians access to rapid growth markets, Excel Funds provides truly global and diverse investment value. Our clients want consistent, responsible and intelligent solutions – we will never stop being challenged and deliver on client expectations. We Listen. We Are Determined To Deliver. Our clients want to understand better. Excel Funds is the only company dedicated to providing investors with actively managed, best-in-class Portfolio Managers based in regional markets. In order to deliver deeper understanding, we are not removed from unique cultural, political and economic experiences. We Initiate. We Create. Investors benefit from strong, sustainable growth. To create wealth for our clients we will: • Offer globally diverse opportunities to capture shifts in world economies • Not resist change and continually lead in Emerging Markets global growth • Engage world class institutional managers for retail investors We Are Passionate. We Will Never Stop Innovating. True leadership is enabling and seeks a positive outcome for all invested. We will not rest on past success, and continue to provide clients with: • Innovative fund structures • Canada’s largest & most comprehensive Emerging Markets products • The best institutional level Portfolio Managers • World class on-the-ground active managers • A singular focus on Emerging Markets, the driver of global growth

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