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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: Bush pushing for opening up offshore oil

Re: Bush pushing for opening up offshore oil

posted on Jul 15, 2008 01:21PM

July 13 2007 I bought some CLL at $3.99, I think Oil was at about $80. NG was about $6.00. If you would have asked me then what CLL would be if prices were what they were today I would have said something way above $4.00. So one year later and lots of cash coming in we have a lower price then a year ago.

What gives?? Maybe the risk tied to lack of Algar approval. I believe something was done wrong here and therefore the delay, compared to the GD approval time frame, remember everyday costs us about $88,000 in interest costs. The net debt is going higher (based on Presentation to Raymond James vs 1st quarter cash available difference). Also the lack of increase in current production indicates another problem, if they are tinkering they have now been tinkering for about 3 months. 3 months worth of tinkering and no increase means problems. DG and company (IMO) are not doing a good job! With the impending NR's SP should be at least looking up.

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