Evaluates

The recent study commissioned by FERC of various ways to measure LNG tanker hazards evaluates some methodologies with less than credible assumptions and fails to distinguish between probable risk and worst-case risk, according to a Texas research firm.

Under Canaan’s shareholder rights plan, preferred stock purchase rights will be distributed to shareholders of record as of the close of business on March 25. The shareholder rights plan actually was under consideration before the tender offer by Chesapeake. The rights plan is designed to assure that Canaan’s shareholders receive fair and equal treatment in the event of any proposed takeover of the company and to deter potential abusive tactics to gain control of the company without paying a fair price to shareholders. The plan won’t prevent a takeover, but should encourage anyone seeking to acquire the company to negotiate with the board. The rights will be exercisable only if a person or group acquires 15% or more of the company’s common stock.

Oklahoma Natural Gas Co. has been cleared by the OklahomaCorporation Commission of any wrongdoing regarding how it evaluatestransmission service bids for ONG customers, but the company thatfiled the original complaint — Enogex — is appealing thebidding process to the Oklahoma Supreme Court.