The $10 M, is definately good news. Fixing the water problem is good news.
The 7500-8500 bbl/d smells more like 7500. CLL has never maintained an average of over 6000 bbl/d for a quarter. They can speak of, " we will hit production levels of" ***** (put in any figure) and they do.... for 1 day.
DG spoke of putting in another hedge for 2010 which according to him would give them an average hedge of $80, nothing was mentioned of a new hedge and if they haven't by now then an $80 average hedge is not going to happen. (His talk at the latest investor conference). An $80 average helps the netbacks and solidifies cash flow