"We are going North very soon"

Based on what? Yes oil is high, and at this lever cll will pay the bill,nothing more. How about if oil suddenly crashes ? even of oil goes down to 60 cll is screwed. The problem is two fols: high debt and lots of shares,if one of them. And there is no easy to manage both of them to my knowledge, If the stars are alinged for cll and oil stays put where it is for a two yrs,then they can use some cash flow to expand light oil,but oil sands expansion is dead for cll for the near future. I am sure how big is cll's light oil resources, but if they can double oil production with light oil instead of oil sand,here you get expansion with no much risk and if nat gas increases in price, they can also leverege their vast nat gas resources from Luke and that can be done faster and easier, in these two scenarious cll will become attractive.

The seeds for the current pradicament were sowen when they focused soleley on oil sands,theyu thought they were hedged when they bought MCR and luke for gas.

thanks

Believe