Re: They are Going to Increase Debt !

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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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M14W49

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Re: They are Going to Increase Debt !

in response to

They are Going to Increase Debt !

krissy09

posted on Mar 19, 2010 02:19PM

How in the world do you get "They are Going to Increase debt!" from this statement?

"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."

In my opinion you are reading far too much into "available credit". You have to remember that Gusella is coming from a technical background and is not engaging in "double speak" as many CEO's do. My interpretation of this statement is that he is trying to give assurance that Connacher is now financially stable and should weather any currently foreseesable obstacles to achieving their goal of 50,000 barrels a day of production.