The only rumor I heard is that Viedesh Ltd from India is in talk to buy Canadian junior company .

Rumor was that it is the PBG (Petrobank). It turn out to be Pearl Exploration (PXX). Not much to worry about .

Very nice price action .CLL broke over $5 . Sooner that I expected but who would predict the OIL prices would go vertical.

As I posted before Q1 report my 2008 target was $5 to $5.5. Can we go higher? Absolutely. The momentum players can drive the CLL SP above $6. Is it wise to take some profit after 50% run? Absolutely.

According to SH board (I did not confirm) Mr Gusella took some profit at $5.

Just for fun: $250Bn of speculated money went to the futures market resently.

Index Speculators have now stockpiled, via the futures market, the equivalent of 1.1 billion barrels of petroleum, effectively adding eight times as much oil to their own stockpile as the United States has added to the Strategic Petroleum Reserve over the last five years.

Speculators "consumed" as much additional oil as China in the past 5 years (848M barrels) while gasoline stockpiles have risen from 1.1Bn gallons to 3.5Bn gallons and natural gas stored by speculators has gone up from 331M BTUs to an insane 2.3 Billion BTUs.