Thanks 2 Crude

Now I feel less upset as I begin to understand things a little more

The disruption of Connacher track and destruction of value seems to be in this shutdown and very difficult rampup afterwards not even done yet

This means

you cannot stop an SAGD

damage may have been done and net worth and cashflow of Connacher are reduced

financial margin, storage for dilbit, hedges, are needed to avoid have to shut an SAGD operation . Please note that cautious blue chip like Encana do all this.

as connacher doubles in size all those protections (that were not present) must be put in place for 20 000 bopd and that is very costly

equity could not be raised with possibly damaged asset except at large discount

equity was then not enough and new debt was added at high interest cost

because financial margin is VITAL for Connacher survival

All this had catastrophic consequence on value per share

Giusella said he had to twist the arm of engineers to shut down and HE probably made a very big mistake first by not having (costly) protections in place to avoid shutdown then by deciding the shutdown.

I feel better cause I feel I better understand what happened.

And then I better know what to look as a sign for recovery.

Also there is nothing worse than a management that does not respect shareholders and on this matter things may be less dramatic than I thought because the situation was worse than I thought. Hope you get my point.

Hubisan