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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: Observation "FWIW"
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May 28, 2009 11:37AM
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May 28, 2009 09:49PM

Brian:

I never questioned your negativity, that I believe was Sly . I said I appreciated your anger, which is understandable.

in response

1- Yes things have been ugly since October---everyone in the oil patch was hit equally, I'd have been concerned if CLL was the only one to get decimated but that wasn't the case.

2- we both agree on what's coming down the pike due to Obamanomics, so no point discussing it. Yes it will be disastrous for CLL and EVERYONE ELSE for that matter.

3- We disagree on Management, I think they've been doing a great job. Business reminds me of sports,,the team is slumping and the coach always takes the crap regardless if he's at fault. His method of communication and the language used is par for the course and no different than any other CEO..The intent is to give the least amount of info as possible.

4- Bankruptcy, dilution or debt---PICK your poison

5- Has dilution reached the point where investment in CLL is no longer attractive? that's up to you to decide..UTS has 474 million shares little or no production yet last year was commanding over $6 a share. It all depends on the criteria a company is judged by..Some investors frown on dilution others on debt. In the case of CLL under current conditions dilution was better as it costs nothing, debt servicing costs eat into your cash flow, which is currently in the red.To me dilution just means that in a worse case scenario it takes twice as long to get where you're going,,which in my opinion is better than not getting there at all.

Look I've remained invested in this company because I see the oil sands as a valuable resource and CLL as a good company, that;s my opinion and it's backed up with my hard earned cash.

My share are worth 75% less than my average price,, Am I pissed, you bet, is it DG'S fault NO,, has he made mistakes, PROBABLY, I've always seen this company as a LONG term investment that won't fully be realized until all planned projects are completed. If I'm not satisfied with the outcome I'll sell out,,I"M EXTREMELY confident that at that point the shares will be well more than the $4.0 I paid for them,




May 28, 2009 10:45PM

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