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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: latest uptik

Interest breakdown is a little muddy.

$200 million 1st lien, all Algar at 11.75%

$587 is $327 Algar, $160 ish GD, and about $50 million can be attributed to MRC pay-off and about $20 million thin air.

$100 million debenture is a mixture of GD and Corporate so lets say 50-50.

Therefore GD has debt financing of about

$50 million at 4.75%

$160 at 10.50%.

Algar debt is where stock got punished by borrowing way too early.

$327 for Algar, and I don't really know where it all went, some towards paying interest and the $200 million first lien at 11.75%.

So I believe they have borrowed $527 million for a $360 million project. Depends where the first 327 million got spent, I haven't figured that out yet.

Probably some towards pumps, restarting, reramping GD, it gets muddled here.

So for GD you could take $23-25 million a year in interest divided by 365 then divided by bbl/d which comes out to about $8-$10 of interest per barrel attributed to GD.

I'll get to the rest later but let me know what you think of this breakdown

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