Hi sharky;

It's good to hear from you. As the heat wave passes through here hopefully it will head east in your direction. It sure sounds like you could use it.

In terms of Michael Murphy's prediction of Connacher's share price reaching $5.00 by the end of 2011 and $9.00 in 2012 I think that these numbers are ridiculous. In answer to your question above I'm sticking to my prediction for last April of $1.80 to $1.85 as a high for this year. How many times have we seen people on this board over the last 5 or 6 years predicting a $5.00 share price and how many times has it happened? Once? Who is Michael Murphy anyway? I've never heard of him.

For Connacher's share price to hit $5.00 I think that Connacher would have to get a joint venture partner who would pay off all of Connacher's debt. Then part of the cash flow that Connacher would make going forward (without any of the cash flow being used to pay down debt) could now be used by Connacher to buy Connacher shares on the market and annul them. Connacher would thus end up with no debt and a fewer number of shares outstanding.

Another possibility for Connacher's shares to hit $5.00 by the end of 2011 would be for Connacher to completely sell it's Great Divide and Algar plants, bitumen producing properties and bitumen reserves and then Connacher could use the money to pay off all of it's debt entirely, then Connacher could become a conventional sweet oil and gas liquids producer and then use it's cash flow solely on madly increasing it's conventional reserves and share by backs. It might also help if the Brent Crude Price hit $150 dollars a barrel.

I would be interested in hearing Jurek's view on Michael Murphy's prediction as Jurek is excellent with numbers and has had a very realisitic view of Connacher's value over the last six years on this board. Spiderman is also excellent with evaluating Connacher's numbers. So gentlemen. What do you think?

Cheers; Scott