Connacher Oil & Gas Ltd CLLZF

My point of view

[CravenMoorehead]

This stock has underperformed for so long that investors were unwilling to get involved. I believe that either Westface or K2 were dumping their position or at least agressively trimming. This brought the stock down to 6 or 7 cents. Many CLL vets were willing to take this bet at 7 cents knowing that there was a binary outcome, either zero or 30 cents plus. There was also the idea that even in bankruptcy, common equity may be worth something a la Opti. I don't usually buy penny stocks but this one was a very different story and seemed enticing.

This move is all about the operational update. New management has already shown more ability and focus than their predecessors. On top of this you have crude rallying and more importantly WCS differentials screaming tighter. CLL sold their oil in the 40's early this year, now they sell in the 80's. That's a big deal especially if they can increase production like they say they can.

All of this has turned this stock from a dead duck to a going concern. If management can keep this company moving forward and execute on their plan, CLL will be trading at $1 in 6 months. That friends is one hell of a return for a 9 month trade and I won't be selling until I see how they execute their plan. I've only got 7 cents to lose, seems like a no brainer!

Good luck longs, I hope many of you bot more at the low's.
CM.