April 26 RG bought 20.000 CLL shares at $1.33

I hope this is not a joke. In 2010 RG made $1.511 millions (salary+incentives for creating shareholders value). He just reinvested in the company 1.7% of his compensation.

Coincidentally on April 26 I bought about the same number of CLL shares like RG did. Giving the full disclosure my CPP (Canada Pension) is $432 per month.

As per CLL Notice of Special Meeting on May 17 The Insiders (7 director including RG) own 2.3 million shares which is about 0.5% of total outstanding shares.

This is possibly the lowest percentage of ownership in the entire Alberta O&G industry.

Do you remember Eric Nuttall from Sprott who in March rated CLL as a buy. Among other things he said that he never buys O&G explorer/producer with insider ownership lower then 10%. Otherwise insiders interest is not align with shareholders and they do not feel the pain like we do. Obviously Erick did not do any homework.

PS: In 2010 on average Directors gets paid $300,000 a year for signing the attendance list 11 times. $27,00 per signature.

In addition, according to the Notice, based on the 2010 performance the Directors will receive $1.2 million cash from Incentive Plan Compensation. Way to go boys.

In return CLL shareholders who invested $100 in Dec 2005 would have $35 in Dec 2010. In the same period TSE Index growth from $100 to $120.