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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: 4th quarter and 1st quarter estimates Oilsands only
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I am not 100% clear on bitumen royalties but.....

My understanding is at $90 WTI, it is based on WTI, that the payout would be 5.31% on gross revenue until the project is paid off.

So if we assume a $360 million dollar cost the royalty rate does not increase until the full capital expenditure, in this case $360 million is paid off. Thus the cash flow will not drop until it is paid off!

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