Re: Will it be today, I doubt it Diggersam

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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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Re: Will it be today, I doubt it Diggersam

in response to

Will it be today

diggersam

posted on Jun 12, 2009 05:38AM

Hi Diggersam,

I doubt it we will hear anything thing re restarting Algar before the new offering is successfully closed.

I agree with you, now is the time, restart algar complete it on time and even below budget, it should cost lot less than 200 million now.

By here is the q, how would restarting ALgar help sp?, I think invesotors will look into debt and shares, cash flow and share holder equity, not an other 10, 00/d in a year when oil prices are unknow.

I think CLl's problem is cahs flow and MCR does not provide decent cash flow when oil prices are high, so need decent cash flow by increasing sweet oil production, that is why it did not make sense to me to spin Argentina to PDP,they should have kept that for cash flow or increase cash flow by increasing light oil in canada, I believe that is the key to survive and benefit from the high oil prices in 5 years, when cll produces more than 50, 000/d and oil prices are likely to be higher than they are.