Hi Jurek

You actually were promoting the ideas of trading the CLL by taking the advantage of the tops and bottoms.

I won't deny that .But still think current sp is to low that the BOD will accept.

20,000 capacity project is producing about 13,500 bbl/d with the declining trend.Well that's something that is discussed on the other board as well.Found this answer and I could agree with that guy.Trough the years on this board many of us learned some more about a SAGD behavior which indeed is not the same as a conventional well.I would rather say we reached a flat production at current levels instead of speaking of a decline.If that's the case then nobody shoukd buy CLL or even start a SAGD .I believe in new technics as well.

So this was the answer and I guess this guy know something more then the average about such a production.

CLL has discussed production at POD1 in their quarterly results. They have lowered reservoir pressure - which is common as well as prudent. The ESPs are in place and each well pair will produce steadily for many years. Changes in AVERAGE production will be associated with surface facility work such as turnarounds or OTSG maintenance.

With SAGD the more steam you put into the reservoir, the more emulsion and ultimately bitumen you get out. Driving higher steam rates is not the best way to exploit a reservoir long term, and in CLLs case, they are operating at optimum reservoir pressure and stable production rates. They have identified $37M for sustaining capital next year, which is quite low, and probably involves mainly maintenance of surface facilities and replacement of ESPs. ESPs do not have a long life in this environment.