People like cash, oil companies are bringing it in. People are very cautious as well. Oil has been above $100 all year so when results get posted from all oil companies all SP's for oil and gas companies will go up. The time to make money is before everyone piles in. CLL has muddled along, in my mind way underperforming on SP, but like the rest has brought in a lot of cash.

I believe the big step is Algar, the risks are 1) no approval (my opinion slim); 2) Delayed approval until 2009 ( low to moderate risk); 3) 4th quarter approval ( good chance); 3rd quarter ( most likely)

Because of the advanced financing, Algar is the wild card. Whether the financing was a good choice or bad choice is irrelevant now. CLL has close to $1 billion in debt. This is the biggest weakness, more production is needed because no body really knows whether the energy prices will stay this high. $1 billion debt is what is keeping the risk high, therefore the SP low.