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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Re: When?

Feb 28, 2008 01:58PM

Re: When?

in response to by
posted on Feb 28, 2008 03:29PM
With the reserves return gone up and some of the risk being removed from the production side of things shorts may start covering now. If they believe the cost of production is higher then expected then they may short some more. So far most things have gone as planned except the cold weather hold up. If Randall produces some good NG volumes in April and we see a POD 2 approval in May, by then all 15 wells should be producing at POD 1 at about 6500 BBLs/day. So I would say April May for a $4.75 SP. Of course that will bring shorters out in that range. There will always be shorters.
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