Other opnions

Posted below is the 2010 reserves estimates. These are discounted by 10 % and will be updated at the end of this year.

Given higher bitumen prices, the NPV should increase.

But, at DEC /10, the 2P reserves were valued at $3.1 billion ( $6.94 per share ) and the contingent at $1.28 per share for a total net present value of $8.22 per share.

Opti was recently bought out for $5.25 [er barrel of 2P reserves.

This would value CLL.s 2P reserves at $2.7 billion or very close to the $3.1 billion estimated in 2010.

To this one would add the refinery and infrastructure plus forward tax losses while removing net debt.

Its STILL ABOVE $3.50 PER Share

and this

Posted below is the 2010 reserves estimates. These are discounted by 10 % and will be updated at the end of this year.

Given higher bitumen prices, the NPV should increase.

But, at DEC /10, the 2P reserves were valued at $3.1 billion ( $6.94 per share ) and the contingent at $1.28 per share for a total net present value of $8.22 per share.

Opti was recently bought out for $5.25 [er barrel of 2P reserves.

This would value CLL.s 2P reserves at $2.7 billion or very close to the $3.1 billion estimated in 2010.

To this one would add the refinery and infrastructure plus forward tax losses while removing net debt.

Its STILL ABOVE $3.50 PER Share