believe in CLL;

I just bought 1800 shares of Petrolifera because it has the possibility of making large share price gains or losses in one day. Today it jumped .45 cents. This stock is capable of jumping over a dollar a share per day with the right drilling outcome. This was witnessed when it's share price doubled in a week after the original IPO in April 2005. I wanted to buy it then as the original IPO price to the MM's was $1.50 but the first morning on the stock market it started at $2.20 if I recall. A week after the IPO they struck oil in two wells and the shares went out of sight. At its peak it went to $23.00 to $24.00 per share. So it is a very volatile stock. The La Pinta 1 well Connacher management believes will be a very successful well. In their Q1 Report of May 6th , 2009 they stated:

" We are extremely encouraged by the results of the drilling of this well, in terms of hydrocarbon shows both uphole behind the intermediate string of casing and at depth and based on confirmation from available log data. Full details of the outcome of testing of La Pinta No.1 will be released as and when available by way of press release. In the opinion of management, the prospect has significant potential and a successful test could provide the catalyst for recovery of the market value of our common shares and growth thereafter." http://www.globeinvestor.com/servlet...

Management also stated the following: "We are pleased with our entry into Colombia and with the apparent outcome of the La Pinta well, which remains to be confirmed by testing as a significant discovery. Our next step would be to establish commerciality so we could proceed to the development and exploitation phase. While the well did take substantially longer than we first anticipated, at much higher cost than budgeted, we believe the value of our identified assets in the region warrant the risks and costs associated with activity to date."

I listened to the Conference Call for the Annual General Meeting on May 6th and Mr Gusella stated that while Petrolifera had budgeted $8 million dollars to drill the well, the final cost was over $12 million dollars because they think from the wireline logs and the mud logs that this will be a very successful well. If the well is successful they intend to drill a second well with the rig right away. You had a question about wells. The first well is drilled basically to discover the oil pool. They test the oil flow and pressure etc. and get a pretty good idea of the quality of the oil for example is it light sweet crude 45 degree API which sells for a premium price or is it heavy low grade oil of 16-18 degree API which sells for a lower price. They also examine the flow rate and pressure to get an idea how much can be pumped out per hour (flow test). Once you discover oil you drill a second well a distance away to dilineate the size of the oil pool. The follow up well could be a quarter mile or half mile away, whatever. Further drilling will determine physically how large the oil pool is. In the case of the La Pinta well in Columbia, oil had already been discovered on the lease in 1975 by Texaco called the Guamito 1 well. It discovered oil, without seizmic testing, but the oil column was too thin because it was drilled in the wrong section of the oil pool. It was drilled in the shallow end of the oil pool. Petrolifera with the benefit of seizmic redrilled the oil pool a number of metres away from the original Guamito 1 well in a different location and named this new well La Pinta 1 . http://www.petrolifera.ca/documents/...

If you look at the Presentation on Petrolifera's website you will also see the proposed location of La Pinta 2. It is up to you to do your own DD on Petrolifera by looking at their website and researching their press releases back one year, by reading their Annual Report on their website and looking at their last presentation. That is what we all do on this board. We do our on DD. Then we think about what we have read and we ask questions if we don't understand something, either by posting it on this board or by writing to Petrolifera and asking the questions that you need answers to. Then you make a decision that you can live with , and with a lot of luck you make a good decision.

As I said in a previous post, just having good land and equipment and assets is not enough when exploring for oil and gas. Management is the most important factor as to whether you should invest in company A or company B. About 5% of the management teams are the ones that you want to find and invest in. Why? Because they have a nose for finding and developing oil and natural gas. Gary Wine is the President of Petrolifera and when you read his curiculuum vitae and look at his track record and listen to him speak at the Annual General Meeting you will in my opion come to the conclusion that he is one of the most knowledgeable geologists today looking for oil and gas in Argentina, Peru and Columbia today. But this is my opinion. The results of La Pinta 1 will hopefully confirm this within the next two week. This is only my opinion for what it is worth. Do your own DD and reach your own conclusions.

Best Wishes; Scott