Re: CLL's Last Stand-News Release
in response to
by
posted on
Jun 10, 2009 04:30AM
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
"1) The $172M new share issuance only brought in $163M
2) CLL to issue $150M First Lien Notes (rates, expenses undisclosed)
====================================...
Equals $313M (less First Lien Notes underwriting expense)"
Okay this is where I get confused. According to slide 9, Cash + Restricted Cash, plus Working Capital is expected to be $544M ... obviously a larger figure than $313M. What am I missing, and does that include the $150M (the slide says it does include the $164M, but isn't clear IMO regarding the $150M).
Sure wish they could get production up, obviously lots of problems there.