Re: Raymond James
in response to
by
posted on
Apr 16, 2011 08:23AM
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
Hi sharky;
I too am glad that you are ok and that you walked away from the crash safe and in good health. It was a scary looking crash from the pictures that you posted, and without seatbelts on.......you were very lucky indeed.
As for CLL I think that there is not very much interest in the stock anymore by retail investors. As rebels1 and jurek have pointed out, it's the big firms that are manipulating the stock, which they have always done in the past, but they are doing it now more than before and with little interest from retail investors......... I think that many retail investors who in the past would have bought Connacher shares are now buying Southern Pacific Resources (STP) instead. Those of us who have owned Connacher over the years know just how hard it is for a small oilsands company to make any money in this business. Only the large oilsands producers like Syncrude, Suncor, Canadian Natural Resources and Cenovus can truly be profitable. The fate of Southern Pacific, which is several years behind Connacher in terms of building their projects, will be the same in the long run as Connacher. When they finally build their project and have it up and running they will have sold too many shares and they will have too much debt. Too tough to make a profit for the shareholders.
Like rebels1, I too am hoping that there is one final run up over the next 3 weeks before the sell in May phenomenon begins and the share price is driven down again until the fall.
Cheers sharky. Stay well.
Scott