I agree that RBC gave a good case for their valuation including recgnition of the remaining potential of GD after Pod 2.

As you touched on, I have questioned why other oilsands companies have higher market caps with less apparent value.

I think one of the reasons is that most of the companies that enjoy this advantage trade on an American exchange. Remaining strictly at the mercy of Bay Street continues to keep CLL at a market disadvantage, IMO.

The other major reason, that you also commented on, is a lack of understanding in the market as to how resources are reported.

The only company that I know of that studiously restricts their market announcements to proven reserves is CLL, and they continue to be punished for this.

The market does not, for the most part, appreciate the difference between possible, but unproven, biumen potential and the drill proven reserves that CLL publishes.

Basically any claims of "resources" or "OBIP" are at best educated guesses as to what may be available.

Neither PBG, BQI or UTS have ever provided any claim of reserves because they haven't done the drilling to establish an economic asset in accordance with Canadian law.

The market continues to fail to make these distinctions.

That may soon change though.

The recent discussion on changes by the SEC to allow oil companies to recognize oils sands assets on their balance sheets should cause those companies with proven reserves to be much more valuable to folks who do know the difference between resources and reserves.

I would expect that CLL's value to a potential major oil acquirer to rise much more significantly than any of the aforementioned companies.

Hope they can stay independent though.

There are billion of barrels of oil at Great Divide even if Gusella refuses to say so....

CLL