Even though it has considerable debt, it still holds assets worth several billion dollars with the potential for considerably more reserves to be proven.In my opinion, if a buyer comes forth for Connacher, it probably would be a mutual agreement, rather than a hostile takeover.I would expect the offer to be at least $3.00 per share and if it occurs to occur in the relatively near future (1 year or less).This would be about a 250% increase over where we are right now.

The value of the reserves depends on the capability to produce them at a profit

Connacher actually does this and proves it can't produce at low SOR

THe low production at POD1 IS the proof that more heat is needed than hoped to get bitumen out

despite more wells and injection of steam in best wells

despite pumps addition

despite CAPEX and CAPEX

I am cautious about the value of reserves because massive tar sands exist and Connacher has not proven that it has a land with good reservoir. They say it lasts for 30 years ... to be seen... the start is economically not good and I am not sure that economics are always improving. We see CAPEX that are continuously burdening the operating cost.

In short Connacher is not only creating doubt on its cashflow capability but also on the value of what it does and holds

The size of tar sands is very huge and under average quality tarsand may be of low value.

Being very active Connacher unveils the real value of its tarsand assets and it is not so nice

Hubisan