Like i said in March:

IMHO the SEC is the culprit that has kept CLL (and other oil sands companies) undervalued. You can figure the SP many different ways but until Mr. Market can easily recognize the value of a company, as Bill Murray may say, “It just doesn’t matter.” Large bitumen owning companies have been trying to get the SEC to change its rules for years. However, Mr. John White of the SEC finally said late last year that “SEC rules governing oil sands need to be updated.”This could be a mute point if the changes are not made until 2009 when the SEC may use international rules to govern oil sands, but it would be a much greater benefit to us if they would change now. Like some known gold deposits it just didn’t make economic sense to develop them when gold prices were under $300. Oil sands with oil at $30 a barrel was in the same boat. Now this has all changed and the SEC should recognize these reserves in a 2008 perspective. This could result to a 10 fold change in the relationship of oil sands reserves to market price.Rink

This change, if it happens, will be huge for all oil sands companies, and IMO especially CLL!

Rink