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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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What is holding CLL up?

How about this from Mark Polak (Scotia Capital ) :

....Liquidity and debt continue to be a concern as the company’s cash balance fell

to $96M from $224M as at December 31, 2008. Fortunately, the company has

already spent half of its $124M 2009 budget, and we expect operating cash flow

to improve in the remainder of the year. However, the company remains

susceptible to another downturn in commodity prices until it replaces the $200M

credit facility cancelled in Q1.

We maintain our 3-Sector Underperform rating...

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