We had speculation earlier over whether the KXL PP bought deal of $55million at $3.80 could even possibly be repriced. The answer is "effectively no".

I got in touch with someone I know who is in the business of putting the Private Placements together. He does about 200 a year of them. Here is a direct quote:

"Bought deals are fixed price but they always have certain outs - disaster out, market out, material adverse change out etc. However, I have never seen one repriced."

So, yes we could killed by a flying piece of railway brake shoe (it has happened), but the chances are for all intents and purposes nil.

That is that. The PP is $3.80, solid.

And I bet that next week that will look a bit of a bargain

However, someone at the Roxmark forum brought up the fact that the drills don't turn "for a month" at Christmas. Darn.

Still, what a beautiful PP for KXL.