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Welcome to the Connacher Oil and Gas Hub on AGORACOM

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: Q1 between the headlines
2
May 13, 2008 06:05PM
1
May 13, 2008 06:45PM

May 14, 2008 04:13AM


Jurek

"These numbers are just terrible and this does not look good for so call "integrated approach model" promoted by management and misleading investors with the numbers on the slide."

Wow your true colors are showing!!

1ST of all you omitted this from the CLL news release

"Accordingly, commencing March 1, 2008, Connacher is now booking reserves, production, sales and costs in its operating results and financial statements. Previously, all revenues and expenses related to Pod One were being capitalized."

"Revenue for March 2008 was $50 million and monthly cash flow from
operations before non-cash working capital adjustments ("cash flow") exceeded $10.6 million."

"Since commerciality was achieved, ( MAR 1ST) our daily Pod One bitumen production has reached as high as 9,000 bbl/d. More recently, on occasion production has been constrained as we adapt our treatment systems to higher utilization levels."

"Our cash flow in March 2008 exceeded $10 million, or $125 million if
annualized, indicating the tremendous cash generating capacity which the company now possesses, even though Pod One was only operating at around 50 percent of capacity".

2ND of all EVERY oil and gas company has taken a hit in the refining margins,, so I seriously doubt Connacher will be singled out..



Hey you can focus on the negative if you want...With Ontario NG prices about to be increased 20%, the price of oil and gas continuing to climb,,and CLL production increasing rapidly.. I for one am looking ahead not behind....




May 14, 2008 05:12AM
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