November 16, 2016 / 1:22 PM / a year ago

BRIEF-Phoenix Canada Oil Company announces new strategic direction

Nov 16 (Reuters) - Phoenix Canada Oil Co Ltd

* Phoenix Canada Oil Company announces new strategic direction

* Phoenix Canada Oil Co currently evaluating acquisition targets that would generate additional shareholder value through purchase of operating assets

* Phoenix Canada Oil Co says formation of a working group of board to evaluate potential operating assets and targets for acquisition

* Phoenix Canada Oil Co says board of directors has concluded that it will cease all further investments in early stage hydrogen production system Source text for Eikon: Further company coverage:

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