I just listened to the teleconference and jotted down the following points of interest:

- there are more asset sales in the works over the next couple of months which including the Battrum sale and the Marten Creek sale will add about $150 million dollars into existing cash

- Connacher management is in the process of examining refinancing the existing debt and wouldn't give any details about this

- with the sale of the Marten Creek property, Connacher will still have properties which are producing natural gas. Management said that it is comfortable being short in terms of the amount of natural gas that it produces in terms of it's existing production needs as they forsee natural gas prices being low for quite a few years

-the substation at POD 1 that is being built by the regional electricity grid provider will be completed at the end of April. Excess power from the co-gen plant at Algar can then be sent to POD 1 to provide stabilized power there once the substation is completed

- the average asphalt price is $95.00 US a barrel. There are currently 200,000 barrels of asphalt in storage at MRC. 700,000 barrels of asphalt have been contracted for this summer and many of the contracts are for over $100 a barrel. Also, a number of the contracts this summer are for asphalt to be shipped to Alberta

-1,000 to 2,000 bbl/d of bitumen is being moved by rail to the West Coast and the Gulf Coast to refineries at present.

- Connacher is also looking at opening offshore markets by using barges and boats to ship bitumen

- the Gulf Coast and West Coast are paying a premium above WTI for bitumen. Analysts predict this differential over WTI for bitumen will stay high for a long time therefore shipping by rail will be profitable

- could grow to 5,000 - 10,000 bbl/d of bitumen shipped by rail

- Connacher's barrels of bitumen are currently being loaded by truck to rail and many bitumen producers currently are unable to do this

- diluent is not needed to be mixed with bitumen to ship by rail. Connacher is under taking a new project to remove diluent from dilbit in order to custom blend bitumen/dilbit for specific buyers

- it's cheaper to add diluent at the pipeline terminal to bitumen to make dilbit

- steam + solvent leads to a 25% productivity increase. You use 15% solvent and reduce the steam by 15% that you inject. Therefore you have extra steam that you can use elsewhere, you reduce the SOR, and you can recycle the solvent later to reuse again

-diluent recovery project - Connacher is selling bitumen to refiners that have Cokers directly - the refiners don't like diluent in the dilbit and want bitumen to feed into the Coker directly unlike pipelines that need diluent in the dilbit. Increased sales will add to increased netbacks and EBITDA

- Connacher will get 3.3 million shares of GTE along with warrants today when the deal closes for Petrolifera. Connacher will monetize the GTE shares over the next while

- management continues to look at other minor dispositions in the Great Divide area. When asked about a possible sale of the 50% position in the Halfway Creek property, management stated that people can draw their own conclusions about Halfway Creek. They wouldn't say whether the Halfway Creek holding is for sale or not.

This is the information that I gathered from the teleconference that I didn't previously know about.

Cheers; Scott