Nobody here seems to be happy about anything. If they bought at 8 and are selling at 4 thats the way it is.. if they get a decent price for the assets they are trying to sell then good on them. The oilsands is where they will make the money and the sp increase. the sell off of luke assets may indeed produce a loss, but further dilution may not be needed. NG is expected to remain low for quite some time, so take the hit and move on.

If Bitumen production hits 15000 bbl/d at a netback in the 30's CLL will have positive cash flow, so raising cash will be easier without dilution. It seems non-north american investors see the value in Alberta's oilsands. CLL has definately been a dog, but selling non oilsands assets is a great start. Maybe MRC will sell as well. Then very little money will have to be borrowed