It is now December and the deadline for the divestiture of Connacher's non-core assets is drawing near (December 9, 2010). There has been a lot of activity in the marketplace lately with oil and gas companies selling off non-core assets, especially the Energy Trusts. In fact Daylight Energy has just announced that it has sold non-core assets today for $46,000 per flowing bbl/d:

"These dispositions include 8 separate transactions with aggregate production of approximately 1,500 boe/d (50% natural gas / 50% liquids) which generates a positive transaction metric of over $46,000 per flowing boe/d."

http://www.theglobeandmail.com/globe-investor/news-sources/?date=20101201&archive=ccnm&slug=201012010656857001

Hopefully Connacher will be successful in the sale of it's non-core assets but it will be interesting to see the transaction metric that it gets for it's assets. It will probably get less than Daylight Energy did as Connacher's Battrum property is heavy oil which commands a lower price. Hopefully management will be successful in its divestiture and there will be good news coming this month in terms of a share price increase for Connacher shareholders.

Cheers; Scott