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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: Break Even

Hi Jurek

Thanks for this, actually what I was stating was that those are the numbers they need to hit. I didn't say they would hit or are hitting. I believe production will be in the 14000 bbl/d range for about 6 months. They have not shown any consistent numbers at GD above 7000 bbl/d so why do we expect 16000 bbl/d combined.

I believe the CLL Bitumen Netback will be in the low $20 range.

Again I was simply showing where they need to be with what I believe is realistic production numbers. I do hope production numbers do hit 16000 bbl/d, the needed netback price can come down then. $29 netback may be realistic if WTI hits $100 and light/heavy oil spread is around $15.00.

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