Re: BKM8572, Brian
in response to
by
posted on
Oct 22, 2009 06:59PM
Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
SYL: You said.
"My question is your motive behind such unfounded negativity. Connacher management have done an amazing job sterring this ship through the financial storm we are currently in as a country. I have no dought that we will come out on top with a company that will be the one by which to measure up to in the sands."
Syl:
Believe it or not, I hope you are right. But. I do not believe you are. In fact, in my opinion, you may be potentially misguided and naive in your opinion of the motivations of Connacher insiders.
As far as "my unfounded negativity", look at the results of management actions of a year ago, and subsequently. Productive capability diminished with loss of productivity and what must now be considerable cost for lost productivity, for pumps, infrastructure, diversion of management efforts and productivity. Added expenditure of labor. Massive dilution of shareholder equity. (for all but "insiders"). The total bill for a decision made in panic will likely never be publicly known. But it has to be enornous.
There is one thing you can count on however. That is, that I have never sold a share of Connacher. Though, if I had had any idea of how deep the sell off would be and in a very short period of time, I would have. If I had known of the dilution coming our way, I would have. The simple truth is, the productive value of Connacher will now be required to more than double just to get back to where we were one year ago.
Brian