CONNACHER OIL AND GAS (T-CLL) $3.68 n/c

PETROLIFERA PETROLEUM (T-PDP) $10.26 +0.76

of the access he affords one, but we hear he is

resting a bit for a while in Hawaii. We are not sure whether

he is trying out his surfing moves while he is there and we

don’t suggest he isn’t, as we have just recently been to

Sayulita, Mexico and seen the surfers there.

A whole bunch of svelte bodies, and I am sure Dick

would fit right in….but anyway on to the serious part of

with a conference call that can be listened to.

What next though is what we are after and of course he

is resting up for an annual meeting coming up shortly on

May 13. The two big things Gusella tells us he is looking

ahead to, are first that sometime in the next 30 to 90 days

they should be finally getting EUB approval to start work

on Pod Two, and of course the sooner the better so they

can get a lot of work done in the short summer that is afforded

the area around Fort McMurray.

This is a government agency of course and it answers to

no one other than themselves, and its getting near the end

of what had been expected to be the schedule. The second

thing the company is looking forward to is results of the

core drilling over the past winter, as they get into the number

crunching of just how much they have that can be considered

resource, reserve or all those other technical terms

that are used in the oil and gas business. Needless to say,

those numbers over the longer term become important.

It was certainly disappointing to see that while Connacher’s

production went ever higher over the last few

months because of the market malaise, their stock had

fallen off rather significantly.

It’s nice to see now that production at the Great Divide is

up to 7000 barrels a day plus, the stock looks like it has put

raised their target on the stock to five dollars from $4.50.

Meanwhile, Gusella does mention that all while production

has ramped up nicely lately the increase in production

numbers over the next while will be at an ever slower rate.

says that seismic work continues on their much anticipated

projects in Peru (no dates yet for drilling) and it now looks

like they’ll have three interesting wells lined up in Columbia,

as well as ongoing work in Argentina.