Q4 report

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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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jurek

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Q4 report

posted on Mar 18, 2010 07:25PM

The only good part of the Report is the forward looking management discussion for 2010.

Q4 cash flow is way below annalist expectation. Our board Gurus, usually better informed then institutional annalist were projecting positive 5 to 10 cents Q4 cash flow. CLL reported 3 cents loses.

Production volume numbers are not good.

Q4 Conventional Oil production ...down 26%

Q4 NG production ....down 17% (down 35% since LUKE purchase)

Q4 Bitumen production... down 14%

Q4 refining margins ... negative 7% (as I posted today refineries are terrible business to be in)

Hopefully investors and institutions will focus on the Report Headlines and management promises for 2010 as oppose to look at the Q4 numbers.

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