Connacher Oil and Gas

Your methodology is interesting but not truly reflective of fair value which of course at a point in time is what someone is wiling to pay. As I hear it prices and netbacks are extremely good right now and CLL refinery is likely coming off a record year based on their disclosure so suspect liquidity issue has gone away entirely if discipline spending enforced. It will be interesting to watch the announcement about the final approval of the 2012 program which looked pretty much like development work to me and even includes SAGD plus much to Too Crude's dismay and rejection. I guess the proof will be inthe outcome as reported numbers are impressive.