Hi Esch,

You hit the nail on the head. The evil is usually in the details.

Just for the record (as per management statements) , CLL Conventional Oil production is about 800 bbl/d (781 to precise). The remaining amount is NG boe (barrel of oil equivalent).

About paying back the loan....This is not the "regular loan or mortgage". $600M Secure Notes (with $571 net to CLL) were sold to institutions .... RBC (Follow by the new report on CLL and target price) ,Credit Suisse-(XIII connection?maybe?) and BNP Paribas our previous $180M loan provider).

These institution collected over $20M in fees. Notes and revolving credit ($200M) is secured on all CLL assets except the PDP. Can the Notes be redeemed? Has been done before. What It usually takes is 100 to 120% repayment of the Principal with accrued interest which obviously will be much more simple redemption.

I ask rebels the questions so he can reinstate otherwise excellent post he wrote. Unfortunately he went on the offence instead.

This is all academic. In Q2/3 when the POD2 will be approved all remaining cash will be spend in 2008/9 and CLL will load up on $200M credit line as the necessity of Pipeline will emerge as a priority. Logistics of 20,000bbl/d by tracking is not doable.