GREY:CLLZF - Post by User
Comment by
strzelinon Feb 14, 2013 2:05am
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Post# 20986138
RE: 1 P reserves up 22% / 2P reserves down
RE: 1 P reserves up 22% / 2P reserves down 1P reserves were increase without any new drilling. It was done with the pencil by reclassifying part of the previous 2P reserves to 1P reserves. This was mainly related to Algar 2 approval by Alberta Board of Energy.
It will be interesting to see what the institutional annalists may say about this tomorrow. So far we have two institutional investors on the record saying that CLL stock equity is worth zero.
Speckboy... good assessment of unfortunate situation CLL is in:
"If your debt is too high and costs to produce are more than you get it does not matter about reserves..Being a producer in that instance is a liability..Better to be sitting on a non producing asset then"