Re: Hedges
in response to
by
posted on
Jun 02, 2009 11:57AM
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
Rebels 1, the downturn in the economy, (meltdown by the financials), hurt most companies as you stated, but you have to remember that the key reason our s/p took a nosedive was the brutal financials that were released for last years 2'nd quarter.----The only thing that continued to prop up our s/p at that time was the brain dead fund manager, that was buying up millions of CLL shares when it should have been tanking.----When the 2 brokers, Macquarie and Genuity finally got the word to stop buying, our s/p did in fact tank.----Our biggest problem was that, instead of a positive upward move once the 2'nd quarter financials were released, we found just the opposite happening.----The worldwide financial meltdown was just the final kick that sent us down to a penny stock.----I'm not sure just where all of the cash has gone, but a big chunk has certainly been spent on the interest payments.----Incidentally, I don't believe that we still have the 800 million debt, since some had been retired.----I believe that the debt to be serviced is now around the 600-650 million mark, which would put our monthly interest payment somewheres around 5.2 million.----CHEERS!!!