Saba Petroleum Co.: The firm said Tuesday...

Saba Petroleum Co.: The firm said Tuesday that it has acquired two options to buy properties owned by its parent company, Capco Resources Ltd. of Calgary, Alberta. Saba could obtain Capco’s interest in oil-rich land it recently purchased in Canada for about $3.7 million. The Irvine-based oil and gas company also could exchange stock for Colombian properties owned by Capco. “This fits into our plan to expand outside the United States,” said William J. Hickey, vice president of Saba.