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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: Re: Some forward thinking - Spiderman8

Aug 09, 2011 03:46PM
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Aug 09, 2011 06:14PM

Aug 10, 2011 06:17AM

I'd say they would be great in the construction business. The ability to draw oil out of the ground isn't the greatest, I agree not the worst and I also agree not the luckiest. I think a JV partner will look at ability to produce as the heavy component in jumping in, with construction and luck as lesser weights. When oil was at $100 plus in 2008, I might have started buying hedges, they didn't, they wanted it all and we are still paying for it, that I would say is not bad luck.

As far as under budget, I never really agreed with that, the Algar budget was $350M with a $25M contingency. They were, I believe at $360ish, which is over budget but under with the contingency.

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