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Connacher Oil & Gas Ltd CLLZF

Energy Oil & Gas Integrated
"Connacher Oil and Gas Ltd is an oil company engaged in the exploration and development, production and marketing of bitumen. Connacher holds two producing projects at Great Divide are known as Pod One and Algar."


GREY:CLLZF - Post by User

Connacher Oil & Gas Ltd
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Comment by strzelinon Oct 27, 2010 12:49pm
455 Views
Post# 17618850

RE: Market Makers going long today??/wellsitter

RE: Market Makers going long today??/wellsitter ....Q3 results release which will show a dramatic improvement over Q2.../wellsitter

Are you sure about this?
Algar production will not be included in the Q3.


Q3 refining margineddrooped to lowest level since Q1 disaster . Average Q3  Bitumen prices were at list 10%  lower then in Q2. POD 1 production was stagnant and NG production is much lower.  There is no way that the revenue and most important operational cash flow will show any improvement in Q3. I think it will be lower then in Q2.

With  today`s  bitumen prices CLL need 15,000 bbl/d bitumen production to brake even (including interest obligation). They have a long way to go.

IMO today SP action is related to the warning which you can see between the line in the yesterday`s news.

PS: what do you think? what volume at $1.17 to $1.18 you have to see to conclude that the 4 million short shares has been cover?
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