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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: morning action

Jan 02, 2009 07:19AM

Jan 02, 2009 09:48AM

Jan 02, 2009 11:15AM

Sharky:

I think Dick will wait for a reasonably prolonged rally in the price of oil and bitumen differentials. Though he likely has a number in mind, he likely has a sustainability trend in mind also, so as to give himself a degree of comfort and margin for error. And over that number needs to be sustained over a period of time. Myself, I would place that number sustained over a period of at least one month at $60.00 with some metrics relative to economic health of the economy and demand, convincing me of sustainability. The worst thing that could be done, is to restart only to have to reverse yourself. That would result in a worsened economic position going forward.

These are the decisions you get paid the big money for. Let Dick and crew choose wisely!

Brian


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