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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: Is it time for a share buyback?
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noam,

If Bitumen price stay around $30/bbl as it is this week, they can continue to pay their bills (excluding the interest) to the end of 2009.

Like in my previous post they have $100 million (taken from the loan) in the acct devoted to interest payment. The Algar has to go commercial in Q2 2010 and produce the cash flow($33 million interest payment in Q2/2010).

If not we are screw unless the oil will go back to $100.

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