Welcome to the Connacher Oil and Gas Hub on AGORACOM

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

Free
Message: Too much doom and gloom

You're correct when you state that the plan was for Algar production helping with the interest payments, but that is if they are turning a profit per barrel of oil.----If you're correct with the assumption that they are losing cash, then the opposite would happen. If they're losing money, then the increase production with another pod would mean that they'd be losing more money and thus going deeper into debt.---As far as waiting for the 4'th quarter results, I had liquidated 55% of my holdings just after the 2'nd quarter results were released.---I've bought and sold many times since, but now hold only a few thousand shares.----I'm expecting some improvement from the refinery side of the business, but of course expecting the worst from the production side of pod 1.----Long term I'm an optimist as far as the price of oil is concerned and therefore will add enough after the financials come out to bring me back up to around 50% of my original holdings.

Share
New Message
Please login to post a reply