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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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Message: Re: the burn rate

May 01, 2009 06:26PM

May 01, 2009 06:52PM

Digger,

If you check that slide those numbers are as of December 31, 2008. They need 80 million for the debt payment this year and have a capital program of 123 million. So 224 - 80 -123 = 21 million left. That is why DG is looking for an addition 200 million for building Algar.

I think Connacher will survive, the rail transport idea looks promissing and the asphalt sale will help. These guys are smart they will do whatever it takes to survive this downturn. The idea is to conserve capital / cut spending so that the company will still be around when things get better.

If Algar does not get started for another year, then so be it. I would rather have that than the company spend itself out of existance.


May 03, 2009 10:18AM

May 04, 2009 11:20AM

May 04, 2009 12:42PM

May 04, 2009 03:32PM
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