Connacher Oil & Gas Ltd CLLZF

My 2 cents

[bnw]

Forget the $32 million loss.  It's the $ 21 million cash flow from operations that is important, a healthy increase from past quarters.  The losses are non-cash and the purpose, among other things, is to minimize taxes on profits.  I also note that we have had no share dilutions recently, a very good sign.  The debt does continue to be a worry but this management team openly acknowledges the issue.  I doubt a guy of Bloomer's quality would take on a company he was not confident he could save and turn into a winner.  A leader of his calibre will deal with the debt.  Oil prices are up.  Production will increase even in the immediate term.  How the market reacts tomorrow is anybody's guess but in the end investors will realize that this is not the same company as the one prior to Bloomer.  Just my opinion.