Insider trades filed June 18,2009

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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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Cgy_B21

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Insider trades filed June 18,2009

posted on Jun 19, 2009 06:24AM

http://www.canadianinsider.com/coRep...

looks like dick and grant bought yesterday on the open market. As for the short position the reason that there was such a decline was due to the simple short arbitrage the banks got upon the offering at $0.90. When the sp was around 1.05 the institutionals/banks shorted heavily and bought the offering shares at $0.90. That represents a $ 0.15 profit a share that was gauranteed short. It could possibly have been the easiest trade they made this month!!

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