Welcome to the Connacher Oil and Gas Hub on AGORACOM

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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Message: next level??

Good question Sharky:

"Is no one up here able to calculate let's say at an 70 $ average price of oil what this can give us as cash per share? We must bear in mind we have a double amount right now."

The one thing that's been nagging at me and I have been chewing on, from yesterday's news release is this:

"Our remaining cash balances and future cash flow, including production from both Pod One and Algar and funds from our conventional and refining operations, would then be available to service debt and to partially fund our growth expenditures during the 2011-2015 period, as we move towards achievement of our goal of surpassing 50,000 bbl/d of bitumen production in 2015."

This statement is disconcerting because there's something of an implication that additional funding above and beyond expected cash flow from GD and Algar will be required. In my mind this smacks of additional debt and/or dilution. However for all I know, this is all just part of building a normal operation.

Nice end-of-the-day pop today. More speculation regarding the Chinese coming over, or something else this time?

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