CLL is at the point of becoming a producing Integrated Oil Company from a speculative Oil Sands play.  They have established property protecting it from the rising cost of leases.  They have money in the bank, thanks to the recent loan, protecting it from the liquidity crisis going on.  They have dedicated employees, on site and working, to protect it from the shortage of labor in the area.  The have natural gas protecting it from the increase in gas prices on the horizon.  They have a refinery to protect it from rising costs.  They have Pod 1 producing at 50%, and hopefully 100% soon, Pod 2 in the waiting for approval, and other Pods in the works.  They are an established company protecting it from any moratorium halting further development.  They are a friendly near by country to the US.  They have all this and still the SP languishes.  Why?

IMHO it is because of the turmoil in the markets and the indecision of the US government. 

The record setting prices occurring every day in the oil market is stopping investors from coming into CLL until a TOP is established and a price correction, probably down to the $85 to $90 level speculated on by T. Boone Pickens, occurs.  The trading range of approximately $80 to $100 was breeched a few weeks ago.  When this occurs usually a 10% break out can be expected.  $110 oil should be about it.

The equity markets are at an opposite point looking for a BOTTOM.  This is also keeping investors from coming into CLL. 

The SEC can’t seem to find its head or bottom with both hands.  Even though President Bush wants Oil Sands development as part of the US change from relying on imported Oil from mostly hostile countries, the SEC won’t allow bitumen to be counted into oil company reserves in the normal way.  This prohibits regular investor from knowing the vast holdings that CLL and other companies have, including some US companies. Canada and the international community already allow this.  In addition the unintended consequences of the new environmental regulation have also put a cloud over Oil Sands because they are considered unconventional oil deposits.

Hopefully at least some of these problems, outside of the control of CLL, can be eliminated, or at least moderated, so that the perfect storm of CLL can be realized with a SP that is warranted rather then dictated by the shorts.

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