Brian, I value you short term view on the stock. But as I said, I am in for at least 10 years. In 10 years Connacher will be over 50,000 boe, oil will be close to $200 ( I truly believe in peak oil theory, and the current recession is only a small set back in the long term trend) and CLL will be debt free and buying back shares, and maybe even paying a dividend. But of course its a speculative stock. I'm only into it for $30,000. Have been invested since 2005. This is why it is imperative that you do not put everything into this stock that you can't afford to lose. If you believe as I do that oil will be $200 in the long term (> 10 years), put your money in CNQ, ECA, NXY etc. as I have. The big blue chips you can't lose on long term. (You also won't get the bang for the buck that you could from CLL, but that is the price you pay for stability, and the inherent decision that it always comes down to). High risk, high reward, versus low risk, low reward.

Think about it. China is adding 1,000,000 cars a year! India is following the same trend. At some point the USA will not be the top consumer of oil in the world. Eventually we will run out. And viable alternatives are still a long, long ways away.

I'll do my part to prop up the price of oil. Heading out on holidays tomorrow and will be hauling a trailer around.

cheers.