Nick, I saved myself alot of misery since April 20th by selling about 90% of CLL after buying 143k shares in Feb. March between .53 and .55; in retrospect, it was the right move! I was and am very empathetic with most posters that are literally sick to their stomachs by the recent sp moves. Although I made a nice profit, I'm still down a considerable amount from a few small cap energy companies that went belly up due to the credit crunch (Stormcat energy and Torrent energy cost me huge...both were Mike Schaffer picks).
I feel your pain! I tripled down on GTE (Grand Teirra Energy) and MAN DOES IT FEEL GOOD TO RIDE A COMPANY WITH ZERO DEBT, PUMPING 15K BOE/D, MAKES NETBACKS OF $20 ON $40 OIL AND 150M IN CASH IN THE BANK!!! Check it out..it's taking off to a triple within a year...I don't need my tums anymore and don't dread CLL's latest news release! Sorry Dick.
I still own 20k shares of CLL and believe it will come back a few years down the line...but, there are much better choices out there now...we all should be making money in Oil now, not sweating our asses off to stay afloat. I wish you and all here the very best and I apologize for my ranting. 9baller
P.S. I first bought CLL about 3 years ago for about $3 and sold for about $4 so CLL has been good to me over all, I just can't believe as Brian and others have stated the disregard for current share holders...long term holders, no problem...I will buy back if we dip to the 60's. Best wishes to all
