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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: Budget of $360 M
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My shot at this.
Budget of $360 plus $15 M as a contingency. $120 M commited on long lead items before crash, $113 M on interest capitilized is $233 Million fixed. Balance of $360 minus $233 is $127 M. Possible saving from cost reductions are about 10-12% or $12.7 million. This would mean $12.7 million plus the $15 M contingency...total under budget could be $27.7 million. The drilling was under by $10 Million so $17.7 million could still be realized.
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