Topic: How To Invest

Dear Pat: What is your opinion re: Connacher Gas and Oil?

Article Excerpt

Connacher Oil and Gas, $0.76, symbol CLL on Toronto, (Shares outstanding: 211.2 million; Market cap: $160.5 million) is a Calgary-based oil and gas exploration, development, production and refining company. Its principal asset is a 100% interest in 98,000 acres of oil sands leases near Fort McMurray Alberta. These leases contain Pod One, the company’s first 10,000-barrels-per-day oil sands plant. Algar, the company’s second 10,000-barrels-per-day oil sands project, is under construction. Connacher has conventional oil and gas production at Marten Creek and Three Hills, Alberta and at Battrum, Saskatchewan. Connacher also owns and operates a 9,500-barrels-per-day heavy oil refinery in Great Falls, Montana. Connacher also owns 24% of Petrolifera Petroleum, symbol PDP on Toronto, which has interests in Argentina, Peru and Colombia. In December, 2008, Connacher announced that it would temporarily cut bitumen production at its Great Divide Pod One plant due to the recent decline in bitumen prices. The plant began production in March, 2008, and had recently raised production to 9,000…