My big question these days is how the SEC rule changes will affect Connacher. I had assumed that the changes in early January were a "given" but I'm not 100% positive on that. But the thing that confuses me is that if the market really prices things six-months out, then the SEC changes on allowability of booking bitumen reserves must already be priced into the stock. That's not good. But maybe that's because Connacher has been conservative with the drilling and doesn't have a lot of allowable reserves (although I thought from the 2P and 3P discounted valuations by GLJ that the numbers were close to $5 per share pre-dilution, which is still well north of $2 at the moment.

So is this the sort of situation whereby the SP will reflect the new rules immediately in the New York, or will it possibly ramp up in the weeks leading up to early January, or will nobody care?