I am 33% out because

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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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hubisan

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I am 33% out because

posted on Apr 08, 2010 05:22PM

Connacher last confcall has been clear about 2 things with long painful developments on thse two themes with uncomfortable answers

SAGD is too capex intensive and financially underperforming

COnancher is addicted to debt and DG has an attitude towards debt that is past anything acceptable for a shareholder probably partly using it as a poison pill

Considering debt Algar success will not be enough to create value. Value is now in extension to 44 kb

Waiting for next optimism in the share price after algar start to complete unloading

BTW value of reserves is un clear as almost unlimited bitumen resources exist. I would say their value is the delineation cost plus something. Many bitumen resources will never be put to production.