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

Free
Message: The stimulus package
Reply New Message
Prev Message Back To Forum Threaded View Next Message

"My question would be, how will interest payments be made in 2010? I certainly hope things turn around with oil prices soon."

Your hope is the answer to your question. No higher prices of OIL (Bitumen) in 2009 means no interest payments in 2010.

Remaining option is raising capital by selling assets or issue new debt, partnership, or take over.

Maybe someone else can come up with better solution.

Hopefully it will not come to this and OIL will move above $65/bbl (bitumen $35) and POD1 can generate sufficient free cash flow.



Reply New Message
Prev Message Back To Forum Threaded View Next Message
Share
Share
New Message
Please login to post a reply