Re: OPC / CLL

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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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jurek

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Re: OPC / CLL

in response to

Re: OPC / CLL

bbqdays

posted on Apr 08, 2009 11:16AM

OPC/CLL

It is all about money and "friends"(Nexen):

2009 free cash flow estimate: CLL -$181M OPC -$189M

2010 free cash flow estimate : CLL -$75M OPC +$39M

OPC sold 15% their working interest in Logan Lake project (58,000 bbl/d) which improved their liquidity including existing $350 line of credit.

Low production cost due to in situ upgrader and use of NG removed from uprgading process.

OPU shares are down from $25 mainly due to reservoir not performing as planed (some "sand problems" which Nexen hope to fix this year).

Big project (70,000bbl/d upgrader) and huge reserves. Prime candidate for takeover.

LUKE and MRC mention by dondon are not integrated with the POD1 like OPC upgrader.

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