Booster stated:

"With respect to the approval process, IMO the process may be less today in Alberta, since there may be less projects applying. But even if we assume it takes 18 months, why do we need to apply for one POD at a time - we may get approval of two or three PODs in the same timeframe (especially now in these difficult times). We could also negotiate with our POD partners to fund these costs upfront.

Using this method, we:

1) secure funding for future PODs,

2) start the approval process as quickly as possible,

3) apply for more PODs at the same time (say 2 more),

4) have Algar up in 2010 producing and earning for us,

5) have two more PODs up by 2011 (using no banks).

6) have more value for CLL overall (holding approved projects).

7) also give a chance for oil prices to hit $65 in 2010, as opposed to needing this price in 2009 (because without it, Algar will be delayed even further).

Time is money, and I see that if we do it all on our own it will take longer and cost us more (even if we can arrange the credit facility)."

In response to the points that you made above:

Richard Guesella or Peter Sametz already announced in the November Conference call that Connacher has already completed most of the environmental work and studies during the winter of 2007/2008 while preparing for the Algar permit for an expansion. and it has continued its ongoing environmental assessment to date that is needed for its application for a further 20,000 to 30,000 barrel permit in the EIA (slide 17 November Presentation) and this will probably be submitted in the next month or two to the ERCB for approval which means that this will be submitted any time now.

Cheers; Scott