Yuma and CLL hot SP

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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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jurek

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Yuma and CLL hot SP

posted on Oct 16, 2011 11:47PM

Wow, Connacher is so hot this days , almost like Yuma.AZ.

Last 4 days we have here 38 to 40 deg Celsius and I can`t even have a cold beer. Swelling on my jaw is going down painfully slow just like this slow wireless internet.

Any research on "uncle" Google takes forever.

Judging by CLL SP move and posts on stockhouse, momentum players are in control. The question is when will they start to take a profit. Will it be at 50% or 100%.

It is funny when in most of their posts they try to justify the SP performance on the CLL fundamental.

Speaking of the fundamentals. First time in the long time CLL Q3 WTI hedges will show small profit ($540,000). Refining margin at CLL refinery is much higher as well.

This will be more then offset by much lower cash flow from the sales of bitumen. Average Q3 bitumen price was $10 lower (~$44/bbl) then in Q2 ($54/bbl).

At 13,500bbl/d (not a 14,500boe as one suggested) X $10 X 90 days you can do the math to find how much lower the cash flow be.