Re: Credit Facility and Covenants
in response to
by
posted on
Feb 09, 2009 06:56AM
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
Booster:
"The end result is clear, CLL introduced amendments to the banking syndicate which could impact continued credit availability and loan serviceability of the 200M line of credit."
I highlighted your use of the word COULD, which is my point exactly. Jurek uses definitive language making assertions he's not qualified to make. The word COULD is language that properly implies a possibility..
Look right now the world is in unchartered territory. Yes we've been there before but never before have we had to deal with modern information technolgy as advanced as we now have. Changes that could effect the market that used to take weeks ,now takes hours. Millions of people now have access to cheap trading platforms causing greater participation in the market. Problem is that panic spreads with lightning speed regardless if it's justified. Technical trading has resulted in stocks being bought and sold according to charts, in many cases a companies fundamentals aren't even looked at by the trader. My oppinion is that this current market meldown wouldn't have been as severe had governments around the world suspended short selling.
Things are happening fast at CLL as conditions improve or decline on a daily basis. My point is NOBODY can make definitive declarations, only speculative.