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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: Bitumen reserves reaction/Warrior
1
Feb 09, 2009 09:37PM

Hi Scott,

I hoped for the same bounce like you and many others.

Upon the reflection I realized that last increase in reserves was done with the pen and the calculator and not a new drilling program.

Nothing has change in the ground since the last (2007/8) winter drilling program and the results of this drilling was included in the in July 2008 Report.

All that has happen since July 2008 was the ALGAR approval, which allowed our 2P reserves to be reclassified as 1P and added to the 1P reserves from the July Report.

You are right, this was after all good but old news which may have been expected and factored in the CLL SP.

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