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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: Q2
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Something to chew on before Q2 numbers:

Average price of bitumen;

Q2 ~$54/bbl

Q1 ~$45/bbl

This is ~20% increase in revenue in Q2. If the cost did not increase too much we may see ~15% increase in cash flow in Q2 in comparison to Q1. Do not confuse this with the free (available) cash flow.

We will be hit by 10 to 15 cents/sh of refinancing charges and hedge losses on the earnings balance sheet which maybe offset by the assets sale.

So far in Q3 (July) the bitumen price drop to ~$48/bbl just slightly below of total cost including the interest and production CAPEX.

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