Hubisan

Thank you for your rebuttal to my post. It offers a different viewpoint from the typical ones that concentrate mainly on financials and it is one that really needs to be considered if my broad stroke optimism has any basis in fact. I particularly wanted to look at your statement that “Connacher has not proven that it has land with good reservoir”. Pod 1 is not typical in that Connacher shut it down right in the middle of the initial startup. This undoubtedly introduced contingencies that were not anticipated. As a result the re-start up is not going as well as we may have liked. This, though, does not necessarily indicate that the “reservoir” is not good. In fact, Connacher reported that the SOR far Pod 1 was at 3.5 on June 30, 2010 and again inferred as much in its recent press release. (Averaged 7200 barrels/day). This would indicate to me that the quality of the reservoir is a least as good as other SAGD commercial operations and to me indicates that Connacher is back on tract with Pod 1! Connacher indicated that the net present value of their proven reserves was 3.32 billion on June 30, 2010 with only 15% of their land drilled!

After reviewing your post I still believe that my original perspective is valid!

Martin