Oilsands08

I respect Brian's opinion and I for one like exchanging ideas with him. I find it interesting the amount of posters that show up whenever there's a concerted effort to drive down CLL SP..

I'll address your post point by point

1- I'll let readers decide for themselves if CLL made the right choice of selling their foreign assets.

http://www.petrolifera.ca/documents/...

http://www.petrolifera.ca/documents/...

2- Selling PDP shares when they were in the 20's,,that' an old discussion. My question is why would they? Why sell a company that could generate even more more later, when you can use it as collateral for financing? ALSO if CLL had sold any part of PDP it may have shaken market confidence in PDP. I'LL REPEAT ONCE AGAIN nobody saw this coming. If DG had a crystal ball then maybe he would have sold when PDP was in the 20's, I'm sure DG runs the scenario through his mind over and over again, Just like I keep kicking myself in the ass for not going liquid prior to the meltdown.

3-Few make hedges in good times as they involve risk. I'm sure that CLL analysts were saying that oil at that level was an anomaly and they were right.With oil trading way over what CLL required there was no need to.

4- Shutting down POD 1, I'd be willing to bet if oil went down to the low 20's as some were predicting, and CLL kept pumping and were forced to give a non-renewable asset away cause they had limited storage, you'd also be screaming.

5- .90 is a .50% premium over the .61 SP just 2 months ago. They needed cash not only to remain solvent, but to complete Algar ( I suppose you'd rather just let what was started rust in the field). The lending market sucks, dilution probably wasn;t DG'S first choice but it may have been conditional to replacing the previous line of credit..After all if I was a bank, it'd be pretty hard not to give a line of credit when you use the equivalent amount of cash as collateral.

CLL is a LONG term project. I as an investor understood that when I made the choice to invest. The recent events were a major setback but the company will survive and unless the demand for oil suddenly ends tomorrow, CLL has a bright future.