bbq,

While your analysis is commendable you are missing on a few factors. You are not including G&A costs as well as maintenance and capital exp for current plant which are fully explained on slide 16 of the presentation. Also the netbacks for CLL are made up of bitumen, conventional oil and NGas as explained in slide 16.

As far as getting to 10k bbl/d it will likely happen but will most likely require more well pairs or possibly more pumps. If you read the really fine print at the bottom of slide 16 you will see that they mention that if these costs arise they are not included in the maintenance and capital costs explained above. I take this as they are likely expecting to make these additions.

The other thing that you need to take into consideration is when will Algar production be up and running and how long before they hit target capacity.

It really isn't that hard to create a spreadsheet that would allow one to change the various variables to see what the outcome would be.

Suffice it to say the sooner they get Pod1 to capacity and get Algar into production the better. If oil can hang on CLL should be in a reasonable position to meet its obligations regarding debt but won't likely be paying dividends any time soon.

Dootin