Connacher Oil & Gas Ltd CLLZF

RE: bitumen prices/greyfoxxca

[strzelin]

$ per cubic metre Crude Oil - Heavy $251.72 $298.59 $309.66 $285.43 $285.93 Crude Oil - Light & Medium $374.36 $404.62 $408.27 $422.42 $401.83 Crude Bitumen $213.97 $263.53 $273.80 $241.93 $246.84 "as you see bitumen is selling for around 60% wti oil price ($73us)"/greyfoxxca I use the same table for the bitumen prices in my post. To make it clear for everyone on the board I converted it to $/barrel.(1 cubic meter = 8.52167907 barrel) The error you are making here is that you compare the Alberta light&medium oil to WTI. Form the table above: April/2007 Alberta Light&Medium is $47/barrel If you look at April WTI chart : WTI was at US$65, CAN$72 April /2007 Bitumen was $29. $29/$72(WTI)=40% not the 60%. Do not take me wrong .I own good chunk of CLL shares. Possibly more then you and certainly more the average CLL share holder. It is not bashing , just looking were the EBITDA will come from. With the Bitumen at $30 and the average upstream cost for SAGD at the end of 2006 about $10, downstream cost $2 to $4 and the royalties I just can not see how the CLL will make more then $20/bbl tracking the biutumen to Alberta oil terminals in 2007/2008. Help me if you can to show us that this is possible. I would sleep better if we can make $40/bbl. JUREK Average Alberta bitumen prices for 2007 Crude bitumen price: Jan $ 25.1 Feb $ 30.8 Mar $ 32 April $ 28.3 May and June to follow later on when they are released