Ouch!

Bobert, I was thinking exactly the same thing ... possible double whammy coming when the actual numbers come out.

Though we don't like the dilution, isn't it necessary? Principal loan payments are coming due in 2012. How will these get paid without 20k bbl/day of production? Algar can't be started up overnight, as we're witnessing via Great Divide.

Read an article earlier on OPTI, where they diluted by selling off portions of their assets and programs, losing some control. And I believe they're 1.5B in debt. At least Connacher still controls 100% of most of their projects.

-bbq