Underperforming
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posted on
Jun 25, 2008 07:09AM
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
Seeing how the TSX is up from a year ago, oil and NG prices are way up from a year ago and almost every oil and gas stock is way up from a year ago I would say this stock is way underperforming. It is disappointing. I heard DG say awhile ago that it is nice to see the market reward CLL's stock price. I don't think a $4.40 price is rewarding. At anything above $120 a bbl this stock should be mid $5's. The weight of the safety of securing financing for Algar 1 year ahead of time is a huge burden. DG obviously did not have the confidence to wait, his lack of confidence is justified by lack of increasing production at Great Divide and his inability to secure approval for Algar. This lack of confidence is costing this company large sums of interest and the shareholders about $1 per share.