Re: NEWS!!! /conference call
in response to
by
posted on
Oct 06, 2008 12:08PM
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
Concerning the the proposal that some shareholders are advancing to sell MRC and Connacher's natural gas operations. We need to remember that the $600million loan that Connacher got and its extended credit line from its banker were based on Connacher:
1) purchasing MRC in the first place, and
2) Connacher's banker made it hedge half of its surplus natural gas production in order to raise Connacher's line of credit
Question: If Connacher were to sell them, what does this do to Connacher's loan and line of credit? I don't know the answer to this.
Cheers; Scott