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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: who were the sellers
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Apr 07, 2010 03:02PM
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Apr 08, 2010 01:03PM

bbq:

As nearly all here, I too hope that Connacher does a bang up job with Algar and that it meets and exceeds all expectations. A few points however;

1. Pod 1 initially functioned well and only later did we learn of the problems limiting production. Problems frankly, in which management took considerable time in even communicating to shareholders. At least, we lowly retails. Institutionals I am sure found adequate time to liquidate positions which were at risk!

2. At the earliest we will only have indications as to how ALGAR is progressing in its performance. As POD 1 demonstrated, problems arriving well after connissioning can pop up and cause not only business interruption, but considerable added costs and lost production.

3. Even if all operational functions perform better than design parameters, we still are at the whims of the economy cooperating to receive economic pricing for the product. There are still uncertainities out there in the market which can make life miserable for small under capitalized start up businesses. All descriptive terms applicable to Connacher.

Please understand, I am not trying to be negative. Only to bring a balanced presentation of realities in the current economic and operational environment.

Brian


Apr 08, 2010 08:25PM
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