GREY:CLLZF - Post by User
Post by
november01on Oct 01, 2011 9:13pm
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Post# 19108383
Selling Assets
Selling AssetsBy the looks of things CLL is selling their assets to cover the quarterly loses they continue to have. It's hard to believe a company producing 14,000 BPD is losing millions each quarter. The market cap in less than the cost to build POD1. They will never get 10,000 BPD from POD1 or Algar. They might as well admit that 7,000 per day from each play is the best they will get. In addition, the drilling for conventional oil is not going too well either or there would be news by now. I have a call to my broker to sell my shares at a big loss. Sorry to say but this company is toast. The 75 million they apparently have will be spent by year end. CLL will be bankrupt by the new year.