However I do remember thinking at the time that CLL looked too good to be true!

BBQ

Yes that was but it went wrong on the decission for the financing on Algar.The crisis situation made it look more grim.

I think if they had waited for a better financing term the sp should have found support much higher in the same line with othar oil companies but not a 5 times lower sp then we have now.The downturn effected the new financing deal as well and was the reason for the current dillution.

Probably without the crisis they needed a finacing deal but then the circumstances should have been more in favour for CLL and the dillution shouldn't be the same.

So like Brian wrote nothing is for sure in the future.Will depend on how the economy evolves.Like many pointed out here it looks like the stock markets are lying the situation aside .Indeed unemployment rate is high and from time to time new troubles come above.

So future will rule out if the stock markets are right.They seem to bet on an better situation ahead .Could be but will it hold?