Bought today
in response to
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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
Message: Hedging
At 1.21 .Seems there is an attempt to make a bottom.
Oil price could probably go to around 68 and then go back up but current level could also be possible because it was an earlier top in sept. 2009.If we go to 68 / 69 our hedges are a good move so far.Don't think oil will set new highs in a short time.
As long as oil is sliding we won't see a start of an uptrend I guess .
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