Cornergas ,good to see our target price so close. Unfortunately the best methods and most accurate evaluations are in the mercy of the stock market sentiment. As we all know some stocks can become the "valu trap" and stay below their fair valu forever and some stocks are way overvalue by any standards.

Pipeline cost? In 2001 was about $20,000 per 1" diameter /mile. In Aug 2007 want up to $85,000. I expect that in 2009/10 when CLL will start construction it will be about $120,000 ($1 mln per 8" pipe/mile).

I hope they will not do the same mistake like with the LUKE and let someone else provide the service for them. It is extremely low margin business and you can only make money with big volume.

One thing I like to bring to your attention that 2009 net Bitumen revenue will be adjusted by new royalties rate of about 6% from gross revenue ( $200mln X 6%= $12mln or 6 cents /sh ). In 2010/11 when we pass the Cumulative payout cost CLL will jumped in to 35% royalty's on net revenue ( $ 40 mln or 20 cents /sh to be subtracted from the cash flow generated by POD1). Future POD1 cash flow will drop to about 45 cents per share less the Debt interest charges apply to this specific project.

JUREK