Scott,

Good points about MRC.

I was waiting for someone to ask this questions. All CLL assets except the PDP (if I remember well) are collateral against $600 millions Notes.

If CLL would decide to unload some of them they would have to renegotiate the agreement. IMO this would not be a problem if CLL can show to investors that the receive cash is put to work in the productive way.

Talking about MRC...

Some poster repeating inaccurate info about MRC being paid for.

Here are the official numbers provided by CLL management:

MRC acquisition: $66 M

Capital expenditure 2006/7/8: $55 M

Total cost : $121 M

Total MRC margins 2006/7/8 : $77

(Included Q3/4 of 2008) : about $90 M

Deficit : $44 M , icluding Q3/4 : $31 Million dollars

One last point. MRC was not the reason for lower then expected Q2 numbers. She broke even. It was the higher then expected POD1 operational cost which brought the cash flow down and financial (interest) charges which push the earnings down.

I know ,I know...this is history and time to look forward.

On the other hand if you do not know the history....