About this

“Our priority is to ramp up production with curbs on our capital expenditure for the foreseeable future until we have a consistent, sufficiently large cash flow where can pay down our debt to more reasonable levels.

For me and also i suppose for many here on this board that's probably the most important issue.I just can't understand why they keep on saying they will go towards their target at 50.000 bpd and we all know they don't have the cash for that and from their latest presentation at present they produce just only a fraction from what they need.We are not alone who are seeing that big debt burden above this company.

So far on construction side they did a very good job and reliable as well but on the financing part they brought us in very narrow situation.Specially the common shareholders.i think they are aware of that too but what options are left to achieve enough cash if like they said they don't go for another dillution ?

1. Selling parts of their land
2. Selling MRC.In fact their supposed hedging strategy so far has not worked .At least they should receive some cash and why they hold on to that strategy and not simply go as a bitumen producer alone .
3. Finding a solid partner .

They now are predicting 17.000 bpd for last Q in 2010.Very bold statement if you asked me considering where we are with pod 1 after almost 2 years.I'm wondering if they could achieve that .But then from investors point of view they pushed the sp towards 5 before crisis and the debt situation + double shares.

So on a simple reasoning the sp should be at 5 again then.But I doubt seriously about that.Still I can't understand why IMO well studied and smart people in the board have load up the company with such a huge burden and most of all on the back of the common shareholders.IMO a big faillure towards confidance to their shareholdersThey had big job to do to restore the faith in the company despite they do good job on construction.