Unfortunately, according to Reuter's today the number of Institutional Investors holding Connacher shares has dropped from 41 to 39 and the percentage of shares owned by the Institutional Investors has also dropped today. This is getting discouraging. If the 1st quarter Report isn't very good, which it appears that it will not be this situation will get worse until the news comes out that the construction has resumed at the Algar Project and a 200 million dollar line of credit (or financing) is in place.
http://www.reuters.com/finance/stock...
Institutional Holders Summary
Connacher Oil and Gas Limited (Toronto Stock Exchange) May 1, 2009
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% Shares Owned:
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30.08%
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# New Positions:
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0
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# of Holders:
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39
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# Closed Positions:
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4
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Total Shares Held:
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63,557,213
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# Increased Positions:
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2
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3 Mo. Net Change:
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-1,508,995
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# Reduced Positions:
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6
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# Net Buyers:
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-4
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Best Wishes; Scott
