February 3, 2015 / 7:34 PM / 3 years ago

BUZZ-Canadian Oil Sands Ltd: Continues to gain

** Shares in company, which is largest-interest owner in Syncrude oil sands project, up 20 pct at C$11.32 after rising as much as 25.2 pct Monday

** Rising oil prices prompted bout of short-covering with investors who had previously sold stock rushing to close those positions

** Canada’s main stock index jumped to highest in more than 2 months as energy shares rose after oil prices extended rally

** Brent crude up $1.41 at $56.16/barrel by 1724 GMT; WTI U.S. crude rose $1.47 to $51.04

** Oil production at Syncrude Canada’s oil sands operation also averaged 20 pct higher in January from December, company said Monday

** Up to Monday’s close, shares have fallen about 53 pct in the past 12 months

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