Connacher Oil and Gas Update - A Very Good Day
posted Jun 29, 2006 at 05:15PM
Connacher Daily Chart
Connacher 3 year Daily Chart
Connacher Weekly Chart
Well the company received word today that they have been granted formal EUB approval. 330 days from now they will have first steam in the ground. They are light years ahead of many of their peers, who have yet to even start this "approval" process. And all I can say is good luck with that. Recently there has been reports that local muncipalities were going to start "objecting" to new projects unless the provincial and federal governements helped out with infrastructure costs.
I find it mind-boggling...an energy reserve of global strategic importance, and they leave it to local town governement to set things up....like I said, mind-boggling.
If anything these added roadblocks in the approval process will only give CLL an added premium, at least for the short-term.
I for one cannot express how relieved I am that the fate of the company no longer rests in some administrator's hands.
Fundamentally the next thing I am expecting is the updated reserve report, which from all signs given by the CEO, should be "good".
I think the charts speak for themselves. To my admittedly biased eyes they are looking "constructive".