Re: thoughts why CLL keeps dropping? (BBQ)
in response to
by
posted on
Oct 04, 2008 08:29PM
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
I hate to use the old cliche "buying opportunigy?"
BBQ
Why not ??Like you said so far they met their goals and what's more maybe now very imortant they have the cash to finish AlgarIf things stay low for quite some time the other investment could puton hold until the mess clears up.
Also as a European I can assure you guys that the problems here seems even bigger and worser then in the US.Monday will be a very red day again I suppose .So the US $ IMO will gain against the € because the Americans has another approach and mentallity then we have here.So the effect from the crisis will have more impact here then in the US.In fact so far it were bussiness banks which came in trouble in the States nut here these were retailers banks with huge amounts of saving money from people all over Belgium ,Luxemburg and the Netherlands putting it all at risk.So if such a banks goes bankrupt all the saving money and pension funds are almost gone.
They return only 20.000 € back instead of other countries which amount is much higher.At this moment the trust in the banks is gone.So from a quick recover from here ,I don't see it happen.
The main question for us in CLL is the oil price.Some are predicting a possible low at 50 $.If that could be the worst case how much is the price CLL could get for it's bitumen and if we calculate this at an output around 10.000 bpd what could this give us ?Any idea's?
For the sp the main drive will be the oil price.as positive or negative.
From Algar the most positive is the financing deal though at a high rate but they have it.