IMO the Montana Refinery will not be expended by CLL any time soon.

There were few question related to the refinery on the last conference call. Apparently the only capital expenditure CLL can effort in 2012 in regards to the refinery is related to Benzene Removal Program to meet the environmental regulations.

When you look back on the last few years the Refinery was often on the "life support" from the CLL corporate account because refining margin (profit) was not covering the maintenance and the capital expenditures.

Q3 was very good for the refinery but October and November Crack Spread dropped more then 40%. If we see the WTI trading in $95 to $100 you can expect that CLL refinery will go back to single digits margin.

Refining business is not where you can make a good long-term net profit.

The point is, there is nothing to worry about that CLL will go crazy again and spend money they do not have. They did this already by spending $56 million on Conventional Oil properties with no much results to show.