MRC: Don't sell....... you can... lose $9-13 Million contribution. $9.5 in 2009 ....

Expect $14 million contribution in 2010.

Spide,

what you are refering to is Refining Margin or refinary cash flow. Unfortunetly MRC does not contribute to the CLL corporate account milions of dollars you sugest.

The only money which can be consider as a contribution is free cash flow (cash flow minus capital expenditure(CAPEX).

Here are the MRC numbers for last 3 years (as per CLL financial reports):

2008 refining margin ... - $7.5 M - $24 M (CAPEX) = $31.5 million losses

2009 refining margin... + $9.5M - $21 M (CAPEX) = $11.5 million losses

2010 (E ) refining margin... (10 to $14M) - $18M (CAPEX) = $8 to $4 million losses

Total 3 year MRC losses more then $50 million which were (are) cover by the oil-sand loan money.

You can do the same calculation for POD1. Just in 2010 POD1 will cost additional CAPEX of $27millions. Never mind the $17 millions for the HEAD OFFICE.

You guys are nuts. We did this exercise before and everyone who pay any attention to what is posted here should know by now that CLL Corporate Account is constantly loosing money on the MRC and LUKE. Remember the Integration MYTH?

In addition MRC and LUKE are taken as collateral by NOTE holders and can not be sold anyway.