Connacher Oil & Gas Ltd CLLZF

Silver Birch / Silver Willow

[planet51a]

I think it will be interesting to see what the first IPO will be for Silver Willow when they get spun out of the Silver Birch buy-out by Tech, In my opinion this should give an implied value to Connacher. I would think Connacher should be more valuable, 2 Plants already constructed, Next Brownfield expansion is awaiting imminent approval to at least double current production.

At present Silver willow will be a non producer still awaiting approval for their first SAGD project. Connacher has de-ricked both reserves and Construction costs for their first 2 locations and can go forward with the expansion at the appropriate time.

In my opinion this may a good value model for Connacher

Planet