A woman walks into the Nexen building in downtown Calgary
© Todd Korol / Reuters  /  Reuters
A woman walks into the Nexen building in downtown Calgary, Alberta, July 23, 2012. REUTERS/Todd Korol
updated 12/7/2012 3:47:23 PM ET 2012-12-07T20:47:23

TORONTO (Reuters) - Shares of Nexen Inc and Progress Energy Resources Corp plunged ahead of an announcement by the Canadian government, widely expected to detail its decisions on whether to approve foreign bids for the Canadian energy companies.

Nexen shares sank as much as 15.9 percent, to $20.91, and its shares were briefly halted. Progress shares fell as much as 7.8 percent to C$18.67. Both stocks later pared some of those losses.

(Reporting by Solarina Ho)

(c) Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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    © Todd Korol / Reuters / Reuters
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