Thank you Jurek for outlining well in print, much of what I heard on the call. If you don't mind, I would appreciate if you would expound and clarify somewhat:

.....Management hope that in 2009 POD1 will generate positive netbacks. At today bitumen prices ("as per management "$25 to $30/bbl") POD1 netback is "$5 to $10/bbl". Looks like OP cost is $20/bbl Thanks for pointing that out.

IF Bitumen price stay at this level POD1 will generate$13 to $25 million.Interest obligation is above $80 millions per year. Any thoughts on why this wasn't addressed more directly in the conference call?

.....At today WTI prices their WTI Hedges are "out of the money" and negatively effecting the POD1 netbacks. The higher the WTI goes the higher hedge loses will have to be book. I don't follow (understand) this. The first hedge lasts through August or September (don't recall), the second through December. If WTI is higher than the hedge, they don't exactly lose money ... sounds like an "accounting" thing ... do they have to book it as a loss? That certainly doesn't make sense, as it's not really a loss, it's what they could have made if there wasn't a contract. I think in this environment they made some smart moves, as they can cut back production to hedged levels if the POO tanks again, or they can make some $$$ on the unhedged portion if the POO rises.

... CLL needs additional financing and DG is working on it (to complete the Algar we need $195 M which we do not have). But we have positive cash flow (except covering the $80M which I think should be more specifically addressed), and when the economy solidifies, the proven reserves, and the ability to deliver them, will once again justify the financial support to move forward. And as I previously commented, Alberta should absolutely step up to the plate and assist with some financial resources.

.....Two additional well are drilled. They have to be steam and tested before they contribute to the POD1 output. Apparently two existing wells are not producing too much. Efforts in this area sounded very promising, with the ESP's, shared steam through the wells to provide greater efficiencies and such. Adding well pairs is one of the few options available to tweak production, create efficiency, and get the most bang for the buck in the near term when it's really needed.

.....they hope that POD1 operational cost may go as low as $16 to $18 /bbl. Last year average was $26/bbl. This does not include the transport. But transport is also more efficient with less distance than previously required (if I understood correctly), with plenty of new closer upgrading capacity to the point where we can offload whatever we can produce. Apparently Connacher has built some good working relationships ... nice to see

....he would not answer the specifics on liquidity question (because restrictions) but said that is sufficient for 2009. They are working on more loans. To keep the operation they got the Cash Collateral ACC. We still haven't heard the "D" word ...

Also comments to the effect that interest payments due in 2015 are light years away in the financial world.

Thanks again for recording so well some of the highlights of the broadcast, and sharing your insight.

-bbq