PDP warrant at 30 cents/share

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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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jurek

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PDP warrant at 30 cents/share

posted on Aug 31, 2009 03:54PM

PDP.WT warrant is open for trade today. Volume about 300k and last trade at 30 cents per share.

New PDP shareholders (institutions) who paid 88 cents per share received 1/2 warrant per share lowering their cost to 73 cents. 10 cents bonus per share.

No wonder that last week Tristone initiated the coverage for Connacher (CLL) with the price target of $1.3/share. They are the one of the underwriters for PDP new issue.

If they received 10 million new PDP shares their no risk gain is 1 million dollars. Not bad for the one page report on CLL which does not have any detail analysis and contain the old news only.

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