Re: Fools Paradise

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

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jurek

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Re: Fools Paradise

in response to

Fools Paradise

Road_Warrior

posted on Apr 16, 2009 09:02AM

Good DD Scott.

Just small correction to OPTI financial situation. Their liquidity for 2009/10 is in very good shape.

2009 free cash flow estimate: CLL -$181M OPTI -$189M

2010 free cash flow estimate : CLL -$75M OPTI+$39M

OPC sold 15% their working interest in Logan Lake project (58,000 bbl/d) which dramatically improved their liquidity without increasing the debt.

Cash on hand is $280M and only $87M is drawn on the $350M line of credit. With $85M of the $114M 2009 budget is already paid. They also have estimated $87M gain on the 6.5 Mbbl/d of hedging.

IMO, at this point nobody looks at the fundamentals. Rumours is what it counts. Enjoy the ride until the music stops.

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