From the conference: .....people have said why didn't you sell Petrolifera when the shares were $26 dollars a couple of years ago. He (DG) said we couldn't sell it at that time.....

Actually it was 4 years ago in Q3/4 2006 when PDP traded at $26. Anything which had the energy as a main business activity was selling as a hot cake. CLL SP was at $4.5.

Unfortunately at that time Connacher management was on the buying spree hopping that the good time will last forever. Most of us did the same thing and are guilty as well.

I remember Skyhigh1 projected the CLL share price going to $40 in couple of years. Now we are trying to make sense of CLL market evaluation at $1.2 per share.

As was stated before market does not relay on company self estimation of their net asset value/share. It doesn`t matter if we like it or not Industry evaluation is based on the risked (2P +2C). CLL Unrisked 2P+2C is estimated at about $2.5 - $3.

If you add 50% to 20% risk you get the CLL Risked NAVPS at $1.25 to $2.4 price range. As you know form your other holdings most of the companies are trading below their net asset value.

DG statement at the conference is not very wise. IMO he should keep the market exited about partnership or takeover. CLL SP was on the BUY signal at $1.25 and marching to $1.47 resistance level.