My inference from the chart, and from the $46WTI hedge is:

Jurek's chart put bitumen of $23C at WTI $45. This is very close to the WTI $46US hedge. To me that suggests an approximate $24C bitumen price is viable? I remember quite a while back, DG mentioned Connacher would indeed be viable at $46 oil, but that seemed to be in reference to production including both Pod 1 and Algar. Perhaps that perception was wrong, and even just GD production at $46WTI is break-even. All in all, seems to be at least not bad news.

There are currency and HO differentials also, everything is fluid, difficult to get a handle on.

-bbq