Connacher Oil & Gas Ltd CLLZF

RE: Debt Reduction?

[planet51a]

As always when dealing with Connacher, to assume may make an   ***ass of  u and me****. The Balance sheet needs the most help and with the price of oil they have a chance of growing into it, but I am sure that they will be tempted to spend like mad fools on something,..... tends to help the bonus structure.

I think they recvd full value on the Battrum assets, the PDP assets are long way from the value it was at one time before it crashed and burned during some questionable moves and cost overruns drilling in Columbia along with the declining and price controlled production in Argentina.

My suspicion is they will briefly use a portion of the funds  to pay down debt temporarily then if they have success with the cardium drilling for light oil, they may redip into those funds for further drilling for some high netback light oil depending on the results that should be announced some time in late Feb, but more probably March. the way they are cleaning out the closet it looks like some may be ready for a move, but that is just my opinion.

Will the Q4 earnings tell the tale .......I hope so....but I will not  assume anything until the actual release probably the first week of March, at which time Connacher may also be a shareholder of GTE if they hold the converted shares
which may also answer the question, since they may not have any  extra cash, other than the funds from Battrum, and possible sale of the northern Alberta gas assets.

My concern is that if Q4 earnings report is below expectations than it really is the time for shareholders  to put their money to better use elsewhere this seems like an unending saga that 80/90 oil can't fix and can't forget about those 100/barrel  asphalt sales that always seem to end up rounded to a much lower number.

Rereading the post it sounds very negative, it was not meant to be but one thing led to another, thinking about what was announced and what was done, so I apoligize  for sounding to negative it wasn't meant to.

All the above just my ramblings and opinion
Planet