This is just going by memory, but I have followed the stock fairly closely since around 2004 and especially since 2005, and it all made sense at the time

Hi Dondon.

I also follow CLL since za long time and indeed it all made sence at that time but then POD 1 wan't producing so the only figures onearnings came from MRC.

But MRC is bought as a hedge.Now we are a producer of bitumen the hedge didn't work either.

If oil goes down normally refiners at best and oil pumpers are loosing.Before 2004 and earlier oil was in a broadring trend so some up and later down move and to me that's better.

Now we saw a soaring oil price to the sky and refiners were not the best part but to me the price shot to rapidly to the sky.Look at all oil companies.No one has reached higher tops compared to years before so it was an artificial move which in fact has hurt the economy as well.At that time CLL was to late to benefit from that prices .

Now the bubble has burst with all the turmoil all has collapsed.There are simply to many goods in the world that people can buy.Now on top the banks has blown away a lot of money with their poker game play.So they hurt the car makers and houses builders first with after them the steel sector and later the other industrial companies.Now many companies are trying to sell their stockpiles and according to some analist here he thinks after mid summer many companies will start up again but will we reach same levels??

You are a believer in Peak oil and at some point I do myself but it will take more years to me then we have in mind.If oil goes up if will also due to the us $ effect.

If us $ weakens oil goes up so once again more an artficial jump instead of a real demand jump.Remember latest spike was not really a demand case but more a speculative item.

My personal feeling is to pick up a bull market again will be very tough and will take many years and in most bad case we have a stock market like Japanese Nikkei so not a rosy one.

Probably I will sell 2 houses within a year or so but I don't think I will invest many of the money in stocks or even fund related to stocks but rather save acoounts with fixed rates.Probably only a small portion.

Probably and I hope I'm to pesimistic in my point ofviews but I be in sticks since a long time but never seen such a mess created like today's and believe me it will never be the same.The chase to richdom has reached it's peak I think on stock markets.

There will be stocks which can have good results and nice grow and I think these onces could be in energy too.Let's hope CLL can survive and oil price reached a level the company can deal with but to me also not a big jump because otherwise governments must once again jump in to help cause the economies all around will get hurt again.If you see how deep many countries are in debt right now I think many including Belgium has reached their abbillity to support.

And now I'm gonna play on my guitar again.If CLL will go forwards like my playing we all will see green numbers by end this year (lol)I'm learning songs of most popular us band the CCR.Bad moon rising .