Hi Jurek,

Good to hear from you.

I feel the same about many boards of directors. However, I have friends who are good friends of a some of the CLL directors.

From what I have heard, they are extremely well regarded in the oil and gas business so Connacher has some people on their Board who are able to draw on years of experience in advising the Connacher management, etc.

Yes, Jennifer is the Corporate Secretary so she would handle normal Corporate Secretary duties for all areas in which Connacher needs corporate advice. It would appear that she is well reguarded in corporate and securities law and as I indicated, she received the award as the best corporate lawyer in Canada over the past 2 years.

On a weekly basis, we receive the local newspaper here in Sherwood Park.

If my memory serves me well, there were 10 upgraders being considered for our immediate area which is called the Heartland area. They were:

1.Shell Scotford 135,000 bpd

2 Shell Scotford #2 100,000x4 bpd

3 BA 50,000 x3 bpd

4 North American oil Sands (Statoil) 250,000 bpd

5 North West Upgrading 50,000x3 bpd

6 Strathcona Refinery 135,000 bpd

7 Sturgeon Upgrader 340,000 bpd

8 Synenco Northern Lights Upgrader 100,000 bpd

9 Total E&P Canada upgrader 130,000 bpd

10 Value Creation Terre de Grace upgrader 80,000 bpd

The above are the upgraders that were being considered for our region I believe. Over the last number of months, there have been announcements of proposed delays and/or in the case of Number 8, for example, I believe it will be cancelled. A couple of weeks ago, I believe the work on one of the Scotford upgraders was stopped for the time being.

In short, the newspaper articles would mention the number of upgraders that were still being pursued without delay and the number was getting very short and I believe it was 2 or 3 that were still moving forward on their normal time schedule. That's not to say that the majority won't be eventually built, but the timing will be stretched over a longer time period compared to what the original plans were.

In my position as a School Trustee, I probably get to hear about these situations more frequently than most, as we have to make provision to provide education for the workers' children, etc., etc.

Also, we are in the process of proposing a new type of school to the government. That school would provide a number of high school courses that would prepare students to work in the oil and gas industry. And, we are working directly with industry representatives so that we will know what needs they have with regard to future employees.

I'm rambling on a bit here, however, we are seeing a lot of companies that are at least delaying the building of their refineries and it would look like a number may be cancelling as well.

Obviously, these kind of decisions can be changed at any time, but the newspapers here are indicating that a good number of the upgraders will at least be delayed.

Again, good to hear from the person who makes the best financial predictions on Connacher.

I am assuming that you are holding long like the rest of us, and that you also feel that Connacher is the place to be as an investment.

Best Wishes,

Lynn