Hi Brian

Fully agrree with opinion .It was not the crissis itself but their reaction on the handling of the crisis.Then it became clear to them that they played poker .They could have done much better deals if they hadn't act on the drop in bitumen price and had kept production at same level instead of decreasing it.They needed extra capital but IMO they could have placed the shares at a higher price resulting in less shares for same amount of capital.

After seeing for some years what that management has done it's a very poor performence .But it is what it is right now.Syl has decided to sell now but I think right now it's not so good.looking to the sp and volume it hasn't done much so this latest anouncement was priced in already I suppose.Can we expect more rounds to come ?I think so too but not for directly so if we can do some more trades we can have some profits after all.We must only watch closely what management will do and when the time could come they go for another round of shares offering.

If CLL was valued at around 5 pre crisis with only one pod running not at full speed and now we have two running AND assuming they can bring pod 1 at 8500 + rate and Algar same next year that must do something to the sp?Oil price will hold these levels or maybe start going up above 85 because we read here and there that the crisis is behind us .

With current amount of shares at least with above situation in mind the sp at this level is to low compared to pre crisis level .If major oil players wil start to leave their sideways trend and start moving up again CLL will follow I guess.The only uncertain thing is WHEN they will go for another capital injection.