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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: think positive
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Re: think positive

posted on May 06, 2009 12:13PM

Fortunately with the price of oil going up Connacher's first hedge at $46 US WTI for the first 2,500 bbl/d of bitumen (for which Connacher gets about $26) will be finished in just 3 months (August) and then Connacher will be able to reap the higest per barrel price on the spot market for 75% of its bitumen production in August. The final 2,500 bbl/d hedge will remain in place until December.

Thinking positive.

Best Wishes; Scott

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