Eric Nuttall from Sprott Asset Management who is the sole manager of Sprott's Energy Fund was on BNN Market Call Tonight last night and he was asked about what his thoughts were on Connacher and he rated it a Buy. He stated the following, and it is reported on Stockchase.com, :

"Quite a bit of sensitivity to price of oil and they are a heavy oil producer. At $90 oil, they have $1.75 in share value (cashflow from the future asset value). Their leverage ratios are coming down as production is ramping up. Decent upside if you believe in oil upside." http://www.stockchase.com/Company.php?search=cll

If you listen to his comments on the BNN episode he also stated that Connacher's leverage ratio's are coming down as it's cashflow is improving. Connacher started the year with it's debt to cashflow at about 10x which is very high which should be coming down to 4x to 4.5x and because it is a very capital intensive business where you have a lot of your cap ex expenditures up front with future cash flows that's pretty manageable.

http://watch.bnn.ca/#clip389465 at

He was very objective on Connacher as he does not hold it in the Sprott Energy Fund, so he has no reason to "pump" the shares.

Cheers; Scott