Hi Scott

.say like the current situation that Petrolifera finds itself in at present. Great assets, debt, small cashflow, a large number of shares and little interest in the company by the marketplace.

Indeed that's a valid point.At some point managment must decide between holding full control but with almost no cash for expansion or waiting and try to achieve the best output as possible with the 2 pods and thereby focussing on updating reserves.If bitumen price if economics become better go up then cashflow will increasing .These actions can support the value.

They have destroyed the value way to much when the crisis hit and the lower the sp goes the more shares you had to dillute if you will raise more capital .Same share dillution done at 2 to 3 as sp would be a much better deal then we had now.

My faith in thay manahement team is very low after what happened past 2 years for both CLL as PDP.Maybe they do good job on construction ,planning etc... but on financing they don't think the most logical way.Remember that one guy stepped out of management.Not such a good sign though they hide the real reason I guess.

If I was at the helm I wouldn't for sure not curtailed the output (it was certain by then we hit almost bottom price ),wouldn't negotiated for Algar in a period when banks became in the top picture of investors that something was going on and at a high interest.By curtailing there cash flow went down but even they stay at same production level they still had more cash though it was at a loss.It cost them much much more to achieve the output they had that time and by this missed a lot of more cashflow.They stopped construction phase for Algar so if they had negotiated later for Algar when crisis situation cleared out a little I bet the time we went on production wouldn't be very later then now but probably with better terms for dillution.

I'm no engineer neither do I have an university level but most of us on this board should have taken other steps regarding handling the crisis and the financing for this company.Same for PDP.From 25 to .65 and burning or destroying cash like hell though they have good assets.Hard to understand.