Sharky:
Needed priorities for Connacher!
1. Continue to maintain and increase production from Pod 1.
2. Bring Algar on responsibly and with no technical hiccups.
3. Use improved production performance to refinance from the current confiscatory financing rates and costs.
4. Hope oil pricing remains at $60.00 minimum. Continue hedging program to ensure a revenue stream adequate to ensure adequate cash flow to finance operations.
5. Curtail any and all activity which does not create adequate cash flow hurdle rates.
6. No more dilution until all of the above objectives have been met.
7. Curtail the gratuitous and diluitive practice of granting options to corporate iniders until above objectives have been met. In other words, stop victimizing common shareholders in order to enrich corporate insiders prior to above objectives having been met!
8. Control severely all costs in order to maximize cash flow .
Brian
