Connacher Oil and Gas

Krissy,

I hate to say it but you are wrong about Spide numbers.

He is using bitumen netbacks to get the cash flow. Obviously this is not a net cash flow which you can put to the bank. It does not include the maintenance and projected CAPEX and interest coverage. The net cash flow is negative.

On the other hand , you are right about the the interest payments. Without the Algar successful production in Q3/Q4 2010 this company has to go back to shareholders for more cash, find the buyer or go down under.

Successful Algar and hopfuly higher bitumen price will give us some boost and possible credit rating upgrades which may push the SP above $2 per share.