I agree with Krissy's idea about this.
What CLL should do is to complete Algar and to focus on maximizing production from both Pod 1 and Algar. Expansion can be considered later.
CLL should also consider expanding its conventional oil production as soon as possible. For example, it would appear that Bartrum might be in the Shaunovan play. If that's the case, CLL should be able to increase production from Bartrum and similar land holdings at a reasonable cost. For example, if they drill a $2 million hole, generally they might expect a $4 million return.
Why should a company go for more debt for the rest of the expansion on oil sands if you have a chance to earn more cash from a conventional production on a low cost price?If the board members should clarify more about "how they would achieve their goals" with a good plan so that investors have a view on the proceeding in valuation then the sp could rise.I don't think big funds will take high risk on a company which loaded up his debt situation.The latest crisis normalyy IMO should opened their eyes if bad luck is coming their way that it has big impact on their financial situation.If they haven't learned that then IMO their are better playing at a poker table.
Also making some more time to wait until enough cash is a certainty and with a stable output on both pods wouldn't be a bad idea too.At least if you have your shareholders in mind.
