9,074,865 shares were traded today. It looks like a fund dumped a lot of shares as they were not happy with the year end report. Either that or the delisting from the TSX 300 Index has finally taken hold.

I am not worried about a takeover as Connacher has a great deal of debt as well as its various holdings in MRC, Petrolifera, conventional natural gas and oil holdings. By being a small integrated company a large player would not be interested in all of Connacher's parts. They are not worth it to a large player. On the other hand those of us who have been holding long have known that the books would be difficult for a number of years. Why the shock now? Looks like we will have to suck it up and gut this out for the next couple of years.

Best Wishes; Scott