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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: The Most Pernicious Element Depressing Connacher/Glindway

Good to see you Mike after few months of the sabbatical. Hope the summer was good and productive.

Just the couple of notes on your numbers. Do not count on $30 netbacks.

Even CLL latest projections are revised down to about $110 million. IMO they will revise down the projection again in Q3 report. It is all due to the bitumen prices which are out of their control.

Always admire guys who make the effort to look at the company fundamentals.

IMO, as I posted on the other board, THE market is sensing the trouble and thanks to the management, the short selling trigger by the last share offerings is pushing the CLL share price the the lowest daily closed of the year 2010 ($1.17).

Hopefully this level will hold. If the general market condition will deteriorate we may test $1.1, the next price target.

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