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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

I would not expect a good 3rd quarter.

My impression of netbacks though would be for them to return to what I consider normal, in the low 30's, by the second half of the 4th quarter. Pipeline is moving it again and husky upgrader should start producing more which will bring dil-bit pricing up.

WTI has been above $80 for awhile now and might hit mid to high $80's by year end. By that point Algar should be about 7000 bbl/d and GD about where it is now.

This will bring higher net cash flows for next year. I don't disagree with $1.00 to $1.10 range, but I also think if they can hit $30's netbacks and 15,000 bbl/d bitumen then we will see $1.50 $1.75 by first quarter.

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