All the gloomy prospects in the overall market means that the prospect for CLL to break $4.00 again is likely some way off.

Here are 2 additional reasons why a price increase may be awhile yet.

First, the Premier of Alberta has called an election for March 3rd. I don't know Alberta politics, but the overheated Alberta economy is sure to be a subject for hot debate.

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In the Globe & Mail of Feb 4th.

The PC government also used the Throne Speech to counter criticisms it doesn't have a plan to deal with the province's explosive growth and new wealth, which has created acute housing and labour shortages. The government promised to boost savings, hire more health care workers and strengthen environmental protection for the oil sands region by developing “a strategy for responsible energy development and use in Alberta.”

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Second, although Pod1 production appears to be ramping up as planned, we are a long way from full production.

I can't see any government giving ammunition to the opposition parties during an election campaign. The truth is that Pod1 is not yet proven. Imagine the fun the opposition would have if Pod2 was approved this week and then CLL announced that they were encountering difficulties with Pod1 production. CLL production is a drop in the total production bucket in Alberta. There is no pressure for early approval.

I doubt that we will see approval before May and only if production at Pod1 is over 6,000 bpd.

Just my 2 cents on a day when most of my holdings are heading south.

XBB