My 2 cents on 2009 year end

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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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spiderman8

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My 2 cents on 2009 year end

posted on Mar 22, 2010 12:55PM

Shows nothing really new from presentations.

I did not like the fact they have spent $297 M on Algar with $78 million still budgeted. That shows $375 Million which would seem they are going to spend the $15 million contingency. They saved on drilling but still left the savings in the budget, seems they may overrun other areas. They should be coming in under budget with costs being lower in most areas of oil sands construction these days.

The outlook was weak but I think they are holding back.

It seems they went through the motions on presenting this with very little excitement generated.