What you say would please even the most crooked manager.

to make you recall the past

CLL diluted at 5

I remember flowthru shares sold between 4 and 5

CLL diluted at 4

dluted at 0.9

diluted at 1.3

CLL problem is not to have forgotten to raise capital when the price was high. It did.

CL problem is at there is never enough capital and debt

And about the idea of investing more in PDP via CLL: if you cannot see what happens with CLL I don't think you get a better picture of what happens in PDP. And I don't see why you would like CLL to be more invesd in PDP Don't you see that CLL is undercapitalized and has way too much debt that cost a fortune each month each semester each year. What the hell do you want CLL to invest more in non core speculative assets. Are you a gambler yourself or do you simply think that Giusella is so good a gambler that he should bet more ??? Nonsense. It is YOUR money you speak of why are you so in a hurry that Giusella takes excessive risk with it ???

Except for insider edge over regular investor it is totally inacceptable to have the CLL management keep non core assets and dilute the existing shareholders the way it did at 0.9 $ that is about 25%of an established previous price level of 4 From my point of view the good level of Petrolifera asset for CLLis ZERO when you consider the huge cost of dilution that we had to endure.

I can accept that management makes errors and I never complained about costly past errors An exemple of such errors: to buy luke oil gas assets at stellar price for hedging purpose and find out afterwards that gas is very cheap. This is only one out of several.

BUT I COMPLAIN and FIND INACCEPTABLE when management takes risks for shareholders that are unsustainable with adequate probability. In that respect the debt that has been raised after the last equity increase is totally unacceptable to me. And the fact that the equity raise was not offered to existing shareholders was also not aceptable.

I already said that Giusella had enough cynism to put on par all shareholders old ones and those entered at 0.9 bu raisong so much debt afeterwards that CLL was agin in finantial uncertainty and that share price fell way below 0.9.

To be clear we has a massivedilution and still the finantial position of the company is uncertain. This is totally unacceptable.

It makes absolutely no sense for shareholders to be overstretched over endebted and for CLL keep non core assets.

Except that it makes the company value totally uncertain,and it prevents it from being bought out and it entrenches management in being the only one capable of knowing what's going on and it makes shareholders hostages of management The investing policy of management is inacceptable for shareholders.

Those with unconditional "believe in CLL" are IMO dumb investors who don't even see when a company takes too much risks.

CLL makes bankers rich and shareholders poor.

Your "believe in CLL" is naive to say the least.

I am sorry but I feel that there is a need for some education of CLL board as to what a company normal behavior is wrt shareholders.

Giusella is a problem. A threat to fire him is mandatory to get him back to realistic finantial management wrt to shareholders.

TO hear from the board on that,

Regards,

Hubisan