Marlboro,

Good post about the Algar designed production limited by Steam Generator capacity and SOR.

One has to remember that designed capacity at 10,000bbl/d does not indicate the average production of 10,000bbl/d.

8,000 to 9,000 quarterly average is most likely. This will increase CLL total bitumen production to 16 to 18,000 bbl/d by Q3/Q4 of 2011

IMO the latest company announcement did not have desire effect on the CLL SP because it was well advertised in advance and all parties involve know that the most difficult part of the Algar project is in front of us. In 12 to 16 months we will see if the project was successful , on time and on budget.

As we all learn, this is not the one time "push button" start up process and as such it is impossible to be ever describe as "on time or on budget ".

After 2 years POD1 is still in the ramping up production mode (quarterly production at 6500bbl/d) and actual POD1 numbers are suggesting that up-today total cost (about $500millions) doubled the initially projected cost ($275 million).

IMO the 2011 will be the consolidation year and not a expansion year. For starter , CLL will not generate any substantial free cash flow (possible less then $50 millions) which can be reinvested in the expansion. 2011 expansion would mean new dilution (200 million shares) or partnership, as was suggested in Jan by CLL Vice President Grant Ukrainetz.