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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: Today's cc
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May 13, 2009 07:51AM

May 13, 2009 07:59AM

Sharky, DG made a few more points that got my attention:

** "With $45 WTI, we will easily have cash to pay our interest and still have cash remaining at year end."

** DG sounded upset that he has read that CLL was "cash strapped"...he vehemently rebutted those stories.

**"we are progressing nicely and are on track to perform as stated"

**"we are still in need of 200M to complete Algar; the question is *when* not *if* we get the money." (he didn't sound as though he expected any problems acquiring the cash) he added that about $150M has already been spent for Algar.

**"We were able to bring costs down to $15 to $17 bbl during the Q.; We are amongst the lowest if not the lowest cost producers in the oil sands".

**"SOR improvement during the Q". Also, cost takeouts across the boards will help to mitigate expense throughout the rest of the year. gltu! 9baller




















May 13, 2009 09:35AM
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