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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: i have heard that they may
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Posted on SH

If correct bitumen was $76.57 in Dec at least for royalty purposes

http://www.capp.ca/getdoc.aspx?DocId=186015&DT=NTV

With these high prices for the last 3 months, reserve results coming out soon and possible expansion approval plus all the cash required to pay 100 million debentures and interest costs in the bank ( as per update by whomever is in the drivers seat at CLL) no wonder Gusella wasn't in the mood to sell.. IMO he wanted to hold off on all JV/SAle proposals until all the information and numbers are available and then was pushed out by a group of institutions looking for a fast flip. At least CLL appears to be doing what DG planned and is laying low until everything is out front.

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