Connacher Oil & Gas Ltd CLLZF

RE: OIL FUTURES $70 DEC. 2009 NOW

[trader520]

yes.......and short term will be even more during the summer.
but........canadian dollar on the rise too, as we all know, oil producers get paid in US$. if this economic thing goes the way i think it will, the C$ will be on parity or above long before december, wiping out any gains in oil price, esp going into sept, oct etc. the gov of canada is in a catch 22 here, they cant do much to decrease value of canadian dollar (ie raise interest rates) without hurting economic growth. they also cant stop the US gov from printing more $$$$$$, which further increases the value of our C$.

IMO, short term i'm in on monday or tues, have done my DD. long term play here....maybe, but the other half of what i own is gold. better long term IMO.

cheers