Sharky - you blatantly demonstrate you know little of finance - CLl has no liquidity or financial issues, especially with bitumen selling above $70 per barrel and netbacks with the benefit of the refinery above $60 per barrel which means even at say 14,000 bbl.d the company's monthly ebitda would bein excess of $25 mm per month or close to $300 mm annualized. They are also hedged and the refinery is a hedge against lower bitumenprices as it makes more money the lower the price of heavy oil goes. They only have the debenture to pay off and have surplus cash to conduct their 2012 program and are positioned to finance their grwoth internally in my view.
Where the idea of expandign the refinery comes from is anyone's guess.
As far as the rest of the speculation, only time wil tell if your reported interpretation of the night of the long knives is correct.
Connacher is underapprecaited and undervalued and the market is starting to wake up to that fact. Stick around to see some real fireworks in next few months is my view.
