Hi rebels;

I'm in no rush at all. I've been personally holding Connacher shares for over 7 years now. My purpose in reporting on all of these joint ventures in the oilsands of late is that I hope that management is listening to the joint ventures that come their way and if they are no good, of course they should reject them. That is what you and I are paying them to do. What I am afraid of is that management has decided to retain 100% control of The Great Divide Project, the Algar Project and the Algar expansion project. We have seen on this board over the last couple of weeks the financial numbers run by Spiderman 8, Jurek, Sharky and others which show that Connacher needs to be very careful with it's finances during 2011 and 2012. With the interest payments on Connacher's huge debt there is little wiggle room. I just don't see how the expansion can be financed unless the economy goes Connacher's way over the next two years, the cost of oil remains high and the heavy oil to WTI differential remains narrow over the next two years. Looking at Connacher's past history, none of these things have remained in Connacher's favour. Unpredictable events change the playing field too rapidly.

I share your view that management should sit tight and wait for the share price to increase an the try to raise more money without too much dilution; and yes if a good joint venture comes along management should pounce on it. What I want is for management to be open to a possible joint venture if it is good, and to know exactly the form that a joint venture acceptable to them should take, so that if it comes along they are ready for it. I also don't think that it would do any harm for management over the next year or two to sound out private pension funds, which have vast amounts of money and would like to be silent partners in Connacher's future growth prospects. What I don't want to see is that Connacher becomes cast aside by the future chain of events and severely underfunded, while it sits on great assets.....say like the current situation that Petrolifera finds itself in at present. Great assets, debt, small cashflow, a large number of shares and little interest in the company by the marketplace.

Cheers; Scott