Shares in Canadian oil company Nexen soared 10 percent on Tuesday on rumours French oil company Total is seeking to buy up yet another Calgary takeover target.

The share price spike added over a $1 billion to the company after a Financial Times report hinted the Total board had convened a meeting after securing nearly €7.5 billion in loans from five banks.

Like many oil companies, stock in Nexen has been about halved since summer, making it seem ripe for takeover.

A Nexen statement, meanwhile, said the company was not aware of merger or buy-up moves in the works. Total, too, has not announced an offer. Nexen operates in the North Sea, North Africa, Yemen and the Gulf of Mexico — just like Total.

Nexen chief exec Charlie Fischer said last month he’d arrange an auction to fetch the best price for shareholders should a takeover bid be launched. Calgary-based oil companies have been takeover targets before, and last month Eni scooped up gas-rich First Calgary Petroleums after a long share-price slide ran up against the credit crisis.

Chinese energy company Sinopec has extended a deadline for a $2 billion takeover of Calgary-based Tanganyika Oil Co. Ltd. until Dec. 19, pending an OK from Beijing. The Syria explorer’s board has approved the deal, but two-thirds of all shareholders must say yes, and 15 percent of the company is owned by the Lundins of Sweden.

Tanganyika has boosted reserves and production at three Syrian oilfields: Oudeh, Tishrine and Sheikh Mansour.

Tanganyika now produces 21,700 barrels of oil equivalents per day.

Tags: First Calgary Petroleums, Nexen Inc., Total