Please notice jump in bitumen price in February 03/2009 to $Can 28/bbl which gives positive operational cash flow at POD1.
If it is profitable for POD1 should be ok to go ahead with Algar unless they can not use the $200M credit line.
|
WTI $US
|
DIL-BIT $CAN
|
BITUMEN
$CAN
|
ALBERTS NG
$CAN/GJ
|
POD1 TRANSP COST $CAN
|
POD1 OPER COST $CAD |
POD1
cost
|
Q3/08avr
|
115
|
95
|
76
|
7.4
|
10
|
25 |
35
|
| OCT/2008 |
|
61
|
48
|
6.4
|
|
|
|
| NOV/2008 |
|
38
|
30
|
6.5
|
|
|
|
| DEC/2008 |
|
21
|
17
|
6.2
|
|
|
|
| Q4/2008 |
49
|
40
|
32
|
6.4
|
6 (est)
|
21(est)
|
27 (est)
|
| JAN/09AVR |
45
|
29
|
23
|
5.6
|
|
|
|
FEB3/09
|
40
|
36
|
28
|
4.9
|
|
|
|
NOTES:
1.Dil-Bit Average Weighted prices are at Hardisty Alberta. CLL Q3 prices were 5% lower then reported at Hardisty
2. Natural Gas (NG) Average Wighted price at Alberta NGX Day Ahead spot price
3. POD1 cost $CAN including transportation and operational cost.
It does not include the maintenance capital expenditure, G&A cost, D&A cost and interest charge on loan.
The estimate(EST) is based on 20% lower NG price and lower transportation cost.
