Solo,

I don't disagree with your current statement that the credit line might not be available for 2010 construction. However, my earlier response stating that you may have misinterpreted the slide was based on your posting which was:

Please see slide 6 of the most recent slide presentation. To make it to the end of 2009, Connacher is counting on fully excercising their 200 million of credit capacity. Dick has never stated the exact covenants that regulate this credit, but it concerns me that this cash will not be readily available to Connacher with the recently announced cutbacks. Regardless if they are based on production or cash flow, we are hooped on both fronts.

You had stated that CLL needed to use its full credit position to make it to the end of 2009, which wasn't true, since Algar contruction is being postponed until 2010. That is all I was pointing out. What you state now is that they may not have the credit available for 2010, which absolutely might happen but is very different than fully excercising their 200 million credit capacity to make it to the end of 2009. If I misinterpreted what your earlier statement said, I appologize.

But don't change your arguement and then insult the intellegence ("how some of you invest in a company without understanding their balance sheets") of those who said something earlier about a post that was fundamentally different than the present one.