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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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Just listened to UTS conference call. Will Roach CEO said @ $80.00 oil they would still be profitable even with increase in costs. At $100 very profitable. Biggest problem was overhead capital costs which on current estimate went from 35% to 65% of total costs. Trucks etc.

With SAGD this is less of a problem for Connacher than a mining op like UTS.

Brian

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