Re: Jurek, regarding n/gas use;

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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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jurek

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Re: Jurek, regarding n/gas use;

in response to

Re: Jurek, regarding n/gas use;

Esch

posted on Jun 09, 2008 07:26AM

Thanks Esch for saving my time and unswerving the questions so eloquently.

It is funny how every so often we have to remind ourself that the CLL integration model is based on hedging instead of fiscal use of CLL own NG or bitumen.

Good point about NG collar contract loses reported for Q1 and curry in to Q2 and Q3. Based on the Q1 report It is not clear to me if the new collar is based on the US Henry Hub index or Canadian AECO (NGX).

Canadian NG prices are lagging the US prices. Average May was 9.5 Can$/GJ. Simply there is to much Natural Gas in Canada and storages will be full before the new heating season will start.