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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: 3rd quarter and moving forward

Sharkey

I'd have to agree with agree your assessment, there's a total bid of 913K sitting at $1.15. Some will call it a support level or Line in the sand, others will say it's more than likely comprised of stop loss orders..IMO market has already factored in q3 results so any downward movement will be, a knee jerk reaction as you've stated. Once stops are cleared and shorts have covered at max the SP will move up. Considering how much effort is being spent here and on SH to convince me how bad it is, I don't think Q3 will be as bad as everyone is saying. Q4 should be much better production is improving. Higher oil prices are offset by lower U.S dollar so I consider it neutral. What will be extremely beneficial for CLL is the weakening U.S dollar which of course is monetizing CLL debt..

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Nov 10, 2010 10:53PM
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