hedges are what banks ask for,knowing a bit about Royalty Trusts,this was front and centre especially in this time of the up and down tendancy of bbl pricing,with all the lies and deceit involved its not easy to predict direction.

For me management has shown its dexterity in these trying times (ie the cut in production when bbl was in $30,s.

In hindsight Its easy to say that hedging was not a good call,you look at this forum and see all manner of predictions on bbl,that were wrong,the fact remains that a recovery is largely dependant on Oil,and of course I have to throw in PEAK Oil and its ramifications,one of which is that alternatives require an escallating BBL price,after reading CLL's NRs and reports I beleive management sees an escallting price which makes this investment a good investment for yours truly???