Algar to cost $200 million

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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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dondon

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Algar to cost $200 million

posted on Jun 10, 2009 08:50AM

now I'm not the best one to be seen as an expert on the English language "BUT"

Latest News Release states that $200 million is what is needed for the building of Algar,beleive it or not Connachers does not NEED another $200mil ,the offering (dilution) and the proposed loan from Banks will more than suffice for Algar and working Capitol,the proposed Bank deal might require some Hedging but with bbl escallating and costs being reduced profitability will lessen the need for compltete Bank loan,as usual just my opinion once NR is clarrified for all,I wouldn't be surprised to see Connachers price escallate??

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