Information found about a comparison

Expected Athabaska Oil production for Q3 is from 5,700 to 6,200 boe/d (About half of CLL)

Q2 was 7,258 boepd (barrel of oil equivalent since production is a mix of gas, light oil)

ATH: 3.2 B market capitalization ; long term debt: 531 M
Reserve: 9.67 B barrels

More reserve, but capital investment and time required to get it out of the ground.


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CLL
Q2 = 11,500 bbl/d
Q3 should be in the same range.
Q4 - production increase expected.

CLL: 120 M market capitalization ; long term debt: 849 M
450 M shares

Reserve: 500 M barrels / 34 years project life, so far.

CLL is clearly largely undervalued right now and have very encouraging news (coming increased production in Q4, savings in solvents, good portion of the production hedged at good price level, oil price significant improvement, etc.).

http://www.connacheroil.com/en/cll-2013-corporateprofile.pdf

Considering debt difference, comparable worth would be (3.2B -(849 M - 531 M))/ 450 M shares = $6.40. Say $3.00 to be conservative and account for some differences.

So, if CLL continue their plan, they will be in very good shape. This is barely reflected now in the shy increase of the share price. Oil price increase accelerates the company performance.