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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

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Message: Institutional holdings 22.7%

Institutional holdings 22.7%

posted on Oct 13, 2008 04:45PM

Finally after being frozen at 8-11% for months CLL institutional holdings jump above 20%.

About 10% is related to index and speciality funds who are obligated to hold CLL based on their policy.

Growth to 40% would be ideal.

As per Reuters:

Institutional share held: 48,010,995 22.7% of total CLL shares

3 months change : 24,380,250

Most of it purchase by Genuity for Resolute fund. I hate to think that CLL CEO may have been the main provider of these shares. If this is the case the over all picture would not change much. Shares hold by the executives were possibly "exchange" with institutions. I hope I am wrong.

PS. Tomorrow morning I expect 20 to 30% jump in the CLL SP base on the today US market reaction. Bear market relay are sweet and decisive. In time 50% recovery of recent drop would be in order which would suggest CLL SP at $3.

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