** Canadian oil and gas producer's U.S.-listed shares fall as much as 8.9 pct to $9.47 – biggest intraday pctloss in nearly 1 year
** ConocoPhillips is preparing to offload Cenovusstake it acquired last year – Reuters
** The ConocoPhillips stake in Cenovus is worth C$2.7 bln($2.1 bln), but it would likely be sold at a small discount,according to Reuters' sources
** ConocoPhillips has held discussions with investment banksabout appointing advisers to the sale, and could offer theshares to institutional investors as early as this month
** ConocoPhillips was the biggest investor in the Calgary,Alberta-based company as of March 31 with a 16.93 pct stake -Thomson Reuters data
** Up to Friday's close, U.S.-listed shares of Cenovus hadrisen 13.9 pct this year
(Reporting by Ankit Ajmera in Bengaluru)