Conspiracy theory In February 2011, CLL hit a 12-month high of $1.66 and dropped to $1.05 in July 2011. Come August when the European debt crisis was upon us and the US was struggling with the debt ceiling vote, the SP dropped to .75 range.
Around this time, someone had recommended CLL be removed from the TSX index. Why? CLL's production was rising. The 2nd pod was on stream. An application was pending to boost production to 44,000 bpd. So why was it removed?
In September, CLL was removed from the index and all the funds who held CLL in their funds had to sell. Major shareholders sold driving the SP to a low of 23c. Nothing has changed with the company. In fact, the company had improved since it hit its high.
May sound far fetched, but it would not surprise me if WFCI set the wheels in motion last summer to bring us to this point. It would not surprise me if some oil company in India is the eventual buyer. Only speculating...
My real point is, this company is far stronger, and far more valuable than it was in Feb 2011. Do not give it away... make them pay. I now say, no less than $3.00 a share... it's worth much more!