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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: 3rd quarter and moving forward

3rd quarter will be very poor for oilsands. steady for the conventionals and very good for refinery.

My take is

$19 million netback for oilsands

$5 million for conventional oil and NG

$6 million for refinery

$4 million non-cash foreign exchange gain

4th quarter for October will be about the same as the 3rd quarter months,

November we will start to see very positive change in oilsands cash as referenced by increased production to about 13800 bbl/d and dil-bit price increase

December we could hit 14,200 average and same pricing for dil-bit as December. Cash flow will be positive.

Another foreigen exchange gain of about $4 million.

4th quarter exit will see CLL finally breakout.

SP will see a knee jerk reaction downwards after 3rd quarter comes out

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