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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

Hi Brian and BBQ

Agree with you on your views of economy.

I also told once before that the € is not in good shape .The crisis situation is now more clearly in the news since last months.It seems Europe is feeling slower the effect but now almost every day we here some news about companies firing people or going bankrupt.

Arcelor here in the region is running on 1/3 of its capacity.Volvo trucks has almost no orders and the car makers here are also in trouble.Many thinks that a lot of jobs will never come back and parts of production will go abroad.

I just here on the news that ECB is lowering rate to 1 %.

I hope with you oil trend will hold at around 65 average if possible.It looks like in many oil companies including CLL that traders are hoping on a further uptrend in oil so far.I bought some extra PDP today too.If they found a good well in Columbia and they can sell their Argentinia stake that would be good.PDP has some potention IMO.

On CLL I think that everybody is convinced the figures will be bad but why we have such big volumes last weeks from time to time?I guess they focus on a better oil price later on so I suspect probably a heavy trading day when we have figures.Most focus will lie on the output of POD 1.I still didn't think it was a smart idea to reduce output .In fact it was short lived and rather some panic action on the sliding oil trend.It seems they have problems now to achieve 10.000 bpd.They were almost there before without the use of the extra ESP pumps.



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