Finally had some more time this weekend to do some reading and DD.
Unbelievable amount of BS and garbage posted on the CLL stock-house board. Pumpers are working efficiently full time there to keep the share price momentum going until the music stops.
We almost past the good resistance level around 50 cents . I was going to sell 50% of my holdings here but it looks like the momentum created by the rumours will push us higher to 75 -80 cents if the Santa Rally will keep the indexes marching upwards.
The greed was stronger then common sense and instead of taking profit I just move my stop loses closer to Friday closing price.
Average November Dil-Bit price at Hardisty is posted at $503.57/m3 which converts to $80.05 per bbl (CLL realized prices are ~5% lower due to oil quality).
$80 Dil-Bit will translate to ~$60/bbl of CLL Bitumen. If the lucky pricing continue this will provide CLL with positive NET*cash flow of ~$6 to $7/bbl (offset to some degree by crushing margins at Montana refinery).
Lucky Bitumen pricing is much welcome and positive news considering $180 million cash outlay coming in the next several months starting in February.
PS.
Malboro,
Good catch . This was also indicated 10 days earlier in the new CLL presentation.
Zemaniak,
IMO it will take a real beef to move us over the the 80 cents.
real beef = announcement of take-over at $1/sh (+ $1 billion for debt holders) or JV (provided that it is positive for common shareholders).
Note:
NET*cash flow includes following cost:
Royalties, Transport, Operational, Interest on the loan ($903 + $100 million), Administration, Production Sustainability OPEX.
