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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: Good analyse /price of bitumen dropped to $52/bbl

Feb 02, 2012 09:52AM

Feb 02, 2012 11:18AM
3
Feb 03, 2012 02:29AM

Feb 03, 2012 10:46AM

3.5 years ago when the CLL SP drop from $4.5 to $3, from your Connacher office in Calgary, you sent me an email saying:

" We are producing, growing and prospering in due course. Stick around - also watch PDP grow in market value again which is good for CLL "

Today you repeated the same line in reply to sharky;

"Stick around to see some real fireworks in next few months is my view"

It is good to see that your retirement did not change your risk appetite and the blue-sky enthusiasm.

PS. Where on earth you have got the idea of "bitumen selling above $70 per barrel"?

Average CLL realized prices for:

Oct/2011 $51/bbl

Nov/2011 $62/bbl

Dec/2011 $61/bbl

Jan2012 $60/bbl

So far February/2012 $52/bbl ($430/m3 of Dil-Bit).


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