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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: The "Natives Are getting Nervous" at CLL SH B.Board

I can't imagine why there would be insider selling? I was just perusing the 2007 Annual Report which for some reason I hadn't realized was posted http://www.connacheroil.com/document... . I made it through Mr. Gusella's Letter to Shareholders before realizing I'd better print it out. They haven't even drilled 10% of their available core hole locations, and aren't planning to hit 50,000 bbl/day of bitumen production until 2015. So strategic planning here is very long-term, with plants producing for 25 years each. Plans are also to maintain NG capacity to operate the pods. Seems like one of the big questions is whether or not to invest $400M to expand the MRCI refinery, with another unknown being pipeline options.

From a layman's perspective I don't see why there would be insider selling other than to buy a new fuel-efficient hybrid to get to work in.

Was wondering if someone would mind briefly explaining what all the disclaimers about boe being different at the burner tip than at the wellhead. What is a burner tip, and what is a wellhead? And therefore what is the point being made? Sorry for the dumb question.


Apr 19, 2008 01:05PM
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