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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: What Happens If TSHTF?

Mar 18, 2010 07:15PM
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Mar 18, 2010 07:23PM
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Mar 18, 2010 09:10PM
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Mar 18, 2010 09:32PM

We can now complete Algar and the related capital programs, while having more confidence in achieving minimum levels of earnings before interest, taxes, depletion, depreciation and accretion ("EBITDA") to meet both financial obligations and capital spending requirements for the year. Our 2010 capital budget has been reset at $256 million, as certain capital programs originally contemplated for this year were completed in late 2009. We forecast our full year 2010 EBITDA will surpass $130 million and this together with our cash balances and available credit, should allow us to again meet our obligations under normal pricing and operating conditions.

So Algar is on time and undercost budget is reset,looks like 2010 will see Connacher meeting its obligations, if WTI and operations average 2009 conditions which IMHO have been exceeded.


Mar 19, 2010 10:14AM
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Mar 19, 2010 02:42PM

Mar 19, 2010 04:23PM
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