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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: latest uptik

Mar 08, 2010 09:47AM

Mar 08, 2010 10:16AM

"At $78-$79 for 5000 bbl/d and $80plus for the rest, they are bringing in cash"

Spide, what are you saying? Do you suggest that the CLL is selling their 5000bbl/d production of bitumen for $78 to $79/bbl and the rest (3000bbl/d of bitumen)for $80/bbl ?

Or, maybe they have the financial hedges in place which have nothing to do with their bitumen production revenue and have something to do with the spread of the monthly average WTI price in relation the the hedge price?

And maybe CLL`s bitumen is sold for about $50 per bbl regardless of hedge CLL has in place.

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