Re: Q2 and integrated model
in response to
by
posted on
Aug 14, 2008 01:27PM
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
didn't the investment in MRC get paid off, by the refinery profits/MarlboroDog
Acquisition of refinery assets cost us $66.3 M(see financial statements). 2006/2007 additions and expansion cost us $21.7 M for the total of $88M. 2006/2007 net refining margins were $77M. So far 2008 margin profit is ZERO. This is $11M short of total cost.
In 2008 MRC additions including improvements related to US environmental requirements is plan for 33M which will add to $44 mil deficit.
Remember. Do not listen what they say. Always look what they print in legaly binding documents like financial statement.
PS. Thanks Lynn for the reconciled post. We all need some peace. Personally I would not mind some prosperity on the top of the cake.