Jurek you stated : "The hedging contract for 2,500 bbl/d per month at $46.00 US is for WTI oil not the Bitumen which is sold by CLL."

My interpretation of the hedge is that it is on 2,500 bbl/d of Connacher's bitumen production. Connacher is only producing 1,000 bbl/d of conventional oil so it seems to me that bitumen production is being hedged from the following quote from the last news release dated January 21, 2008:

"Connacher has entered into a term contract on a portion of bitumen production at locked in heavy differentials, reduced blending and transportation costs and executed a WTI hedge on 2,500 bbl/d from February through August 2009 at US$46/bbl."

Cheers; Scott