Agreed

" is pleased to announce that it has filed a preliminary short form prospectus in Canada in connection with a public offering (the "Offering") of common shares of Connacher (the "Common Shares")

If one reads the announcement it says it's FILED a preliminary prospectus..My take is it's the first step in an offering and CLL is required to notify shareholders. Now this is the first time to my knowledge that CLL has tied in a share offering with a financing arrangement, hence the lack of shares offered and pricing.

NOW I'm extremely upset about the SP being driven down as I'm sure it's partly due to a lack of clarity in the announcement..HOWEVER one MUST ASSUME the following, DILUTION and more DEBT are bad, so the object for DG would be minimal dilution and new debt, which of course would mean the lowest amount of shares offered at the highest amount possible as this would raise the most money, hence less to borrow.

SO THIS IS THE QUEST ONE MUST ASK is the offering going to be around the $1.25 Scotia Target, the $2.25 R. James target or somewhere in between?

Todays tanking and volume either indicates shorts desperately trying to cover as low as possible prior to the offering price or people pissed off and dumping shares. YOU decide...Either way with oil climbing at least for now, and CLL apparently solving it's cash problems,,Wherever SP falls it won't be there for long.