"Now the new one and look where the arrow is.Now they predict positive net revenue in 2010 versus first chart but after 2012 a loss negative again but then again higher then first thought.What could be the reason for that.?"

Good question Sharky. For a long time I have felt it would be nice for Connacher to provide a better explanation of where these predictions are coming from. My guess for 2013 is expenditures on pods 3, 4 and 5 simultaneously. Possibly a pipeline too?

On the most recent presentation, I'm wondering if on slide 8, does "Future Tax" include the royalties? I'm surprised Connacher isn't making more of an effort to demonstrate the royalty impact on future performance, but maybe there is just too much uncertainty over the price of oil. These royalties are confusing to me, 25 to 40% of net profit seems like a staggering burden to place on oil sands companies.