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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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Message: Re: Too far, too fast
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Jan 09, 2010 11:07AM

Hi Rex

So it looks the Northern part of the world is in the grip of a very cold snap.

I can't imagine what it is in such a cold weather to work like in Canada.As far as I know up here the lowest temp some years ago was - 18 C so compared to your region it's only half.Now it's only slightly below zero for a few days.

I guess you guys up there has to dig your cars out of the snow if they have to stay outside?

So bravo for the workers at Algar site.

Ice fishing is something I would like to do if I lived up there in winter time.

From CLL site

  • Calendar year 2010 – 2,500 bbl/d – WTI US$78.00/bbl.

Additionally, in order to mitigate foreign exchange exposure to commodity pricing, Connacher entered into a foreign exchange revenue collar which throughout 2009 sets a floor of CAD$1.1925 per US$1.00 and a ceiling of CAD$1.30 per US$1.00 on a notional amount of US$10 million of monthly production revenue. For clarity, this contract provides the company a benefit from a strengthening Canadian dollar.

Can't found a chart about their ramping up this time.

Nothing special in fact on the new update so wondering what Monday will bring .

Recent target are from 2 to 2.75 but I guess that's for the whole year.So with the debt situation in mind and Algar still under construction some carefullness is still needed IMO.

Could MRC bring some support ?

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