Connacher Oil & Gas Ltd CLLZF

RE: RE: RE: bitumen price = $76.57

[planet51a]

The wells that have been drilled@ Twinning & Penhold were probably done so at a cost of around 21M to prove up the reserves and add full value to to the land before being sold off, In my opinion it is critical that the results be revealed as well as the reserve update that is due in Feb. which should include the newly added reserves at T&P. If the take-over comes it will be before both of these events are announced..... since the  value of the oil in place will no doubt increase by a significant number which would add to the value of the company in a fair value take over.

In the case of the Montana refinery expansion, at the present time I would doubt that Connacher would expand , because of the capital demands and low return, having said that there is a glut of southern Bakken crude some in Western Montana that needs a place to go, so the refinery may be an attractive aquisition for some, and a solution for Connachers Capital Expansion needs at Algar in the future if there is going to be a future for Connacher.

Just my opinion