What a shocker with Nadal and Roger Federer.

My tennis is actually going well. My Achilles feels good (after one year of pain) and my heel pain (plantar fasciitis) is gone. Play 4 to 5 times a week to take advantage of this nice weather we have recently in BC. The only problem is my wife. She is a tennis addict so we do not see each other to much this days.

About Q2 CLL financial report:

Actually as expected is not to bad.

Two week ago in my post I estimated Q2 CLL average bitumen prices at $54/bbl . Today they confirm the numbers at $54.49 (Q2 WTI average at $102/bbl).

As predicted 20% increase in Bitumen pricing is solely responsible for 5 cents per share of cash flow.

Remember this pricing formula I PM to you? It works very well.

Average bitumen production was 13,360 bbl/d. I was overly optimistic with my number above 14,000/bbl/d

Refinancing charges of $64 million (were in the range of my estimate of 10 to 15 cents/share and were responsible for the earning loses.

The conclusion of the above is:

CLL need WTA Oil above $90/bbl (Bitumen ~ $50/bbl) to pay the bills including Operational Capital Expenditure describe by CLL as Sustaining and maintenance capital.