Good news on bitumen price.

March 10/2008 spot prices of Diluent quality Heavy Blend Bitumen at Hardisty  broke above CAD$ 80 .

March 10/2008 One day  Alberta strip NG (natural gas) CAD$ /GJ 8.14

Average FEB/2008 CND$ 7.37 Average Jan/2008 CND$6.87

Not so good news on the refining front.

SAN DIEGO, March 11 (Reuters) - Top U.S. refining company
Valero Energy Corp  said Tuesday it is considering
selling nearly a 30% of its North American refineries amid a
U.S. economic slowdown that is crimping fuel demand, and that it
is exploring new projects in the Middle East and Asia.

Surging crude oil prices, softening demand growth, tough
environmental regulations and rising costs for materials and
labor have cut into margins and led U.S. refiners to slow fuel
production and scrap more than a half a million barrels per day
in expansion plans in recent months.

rebels...... Good post. Just wonder how would CLL use remaining C$327M ($64 is in the debt service acct) to pay part of the  $600M debt. What is the "vehicle" they can use to pay this debt on the NOTES maturing in 2015 ? Were is this 3K bbl/d of conventional oil plus all the Natural gas coming from ?