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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: Re: Question

Jun 18, 2009 02:49PM


Hi Krik.

Nice to here you are around and doing well.

I just come back from long European trip to find dramatic changes in CLL well being. Some of them expected (new debt issue) and some of them (doubling the # of shares) very discouraging for long term investors.

It is hard to imagine that management broke the promise and sold 50% of the company at 90 cent each setting the benchmark for the CLL SP. By my estimation another 100 million shares still to be unloaded from institutions to retail. If you were hoping the CLL SP would move to $3 now you have to settle with $1.5 per share.

Not much change on the main board. Usual suspects (manipulators) from cheering section are pumping and Brian is trying hard to explain the difference between the negativity and a sense of realistic proportion. It is like taking to the tree.

Going back to your question ...... I would look at the Original Prospectus this company filed when they went public. I bad you will find some paragraphs about the management giving themselves right to purchase specific numbers of shares.

Good luck, Jurek.



Jun 19, 2009 09:36AM
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