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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: Acquisitions/rebel

Feb 04, 2009 02:55PM

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Feb 05, 2009 09:18PM


Jurek:

first of all I hope your surgery goes well and you have a speedy recovery.

"Rebel, I am convinced by now that you are just kidding with me here.

You are intelligent person and is hard for me to believe that you do not understand the the slide #6 or my posts or CLL last news."

Actually I am an intelligent person as I'm sure you are as well.. What you've been saying about not having any cash for Algar etc just doesn't jive with what I'm reading in the presentations. We can argue about it adnaseum and we'd both insist we're right. SO I decided to send an e-mail to Connacher and get my answers straight from the horses mouth. I asked VERY SPECIFIC questions that would either verify or dispell your analysis of the finances. I received a prompt reply form Richard Gusella and needless to say the information provided from him was the direct opposite to what you're saying in your posts.

I'm pretty sure this board is monitored by CLL staff, so I will not cut and paste a confidential e-mail on a public board..I will however give a quick summary.the cash is available for Algar, the 200 million credit is still good,there are no new conditions for this credit and there are SOME maintenance covenants kicking in for 2009 that could in theory be problematic.

NOW JUREK, I hope I'm just not understanding the intent of your posts because what you're saying and Gusella is saying don't match.

P.S Jurek if you send me an e-mail address I'd be more than happy to forward you the e-mail response from Gusella, I'm sure you understand my unwillingness to post the e-mail.

Anyways,, get well soon




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