If they go it alone, and are prudent with their cash they would have to raise about $300 million. Maybe selling PDP would net $100 million by that time which would mean $200 million more then what they owe now.

Waiting for further expansion might not be bad, but DG doesn't seem to be patient enough

Patience is not DG best property.And you're bang on about his history.For the construction part all has gone well so on that no problems with management and they have saved some there as well but on the financial part that(s another story.

I also asked myself why being so in a hurry to built the rest.Made some improvements at a lower cost like Krissy was suggesting for POD 1 and Algar and aim on a decrease on debt.

I don't know if a JV should take place how will that reflect on current sp.They should loose a part of profit for the piece they gave to a partner but we are talking about bitumen which are still in the ground and not develloped .So how much of the not proven reserves is calculated in the sp today?

Based upon information on their website they valuated the company around 4 + sp.We aren't even half of that value now.How much should current sp reflect the reserves?