Hi Sharky;

It is difficult to determine whether or not Connacher can reach $2.00 or more by the end of April I think. I say this because I don't know how the market will react to certain material items which will be revealed over the next couple of months. For example is the Battrum sale for $57 million dollars already factored into todays price or is the market waiting for the final news release in February which announces that the deal is complete. Also, is the news on the 3 unconventional oil wells (in the Cardium play) factored in already or is the market waiting to find out the specific amounts of oil that each well will produce? Personally I don't think that this has been factored in yet as I think the market is waiting for the news release in March with the numbers on the wells. Also, I think that the market is waiting on news of the early success of the Methane co-injection in the north wells at POD 1 to see how much the SOR has been reduced in these wells or whether this is having any effect at all. If a news release in April were to show that the SOR has been dramatically reduced I expect that this will have an effect on the market and hence on the share price at that time. The same would be true of the solvent co-injection at Algar. I don't see this being factored into the share price at present. Connacher is also trying to sell its conventional gas property at Marten Creek/Randall. If a sale is announced in the next 3 or 4 months will this have an effect on the market and raise Connacher's share price? This couldn't be factored in yet already could it? Or the sale of the non-core bitumen reserves that Connacher and AOS own 50/50 at Halfway Creek. There has been speculation on the Stockhouse board that ATH is in buyout negotiations with Connacher and AOS to acquire their land there as it is surrounded by ATH's leases. If a deal was announced by Connacher to sell this property for the purported $50 million dollar price that is being thrown around on the Stockhouse board, what effect would this have on the market? I don't know. I would assume that when Connacher issues a future news release to state that the substation is completed near POD One by the local power authority that this will have no effect on the market as it will already have been taken into consideration in terms of the growing production numbers at POD 1. An $85 dollar to $90.00 a barrel WTI price for oil including the differential has already been factored into Connacher's share price but if oil should spike above $100 a barrel WTI the market would have to deal with this at the time and Connacher's share price would go up assuming that the differential stays narrow. So who knows if Connacher's share price can go to $2.00 or more by May? Brian's point is also important here. The SAGD business is historically like raising children ....two steps forward and one step backward. Every time in the past that Connacher has had great news, the other shoe drops to send the share price down. Based on the fact as you say Sharky, that Connacher went to $1.88 last April/May and that with Algar, production will have basically doubled by this April/May and with continuous production increasing over the next three months with no setbacks I fully expect to see $1.88 again. As for more, I don't know which of the news releases that I mentioned above will come to pass if any nor do I know how the market will factor any of them in, or which ones have already been factored in if and when they are released. This is just my opinion.

Cheers; Scott