Brian:

"Such as proceeding with Pod 1 in a seriously undercapitalized position"

Sure you didn't mean Algar?

If my memory serves me correctly Pod 1 was up and running near 9k bbl a day when the market crashed and it was already paid for. When the market crashed they had the $600 million in cash plus a $200 million line of credit to build Agar and Pod 3. So is it possible you meant continuing with Algar?

Yes, in hindsight shutting down Pod1 wasn't a good idea as they had no clue about the damage it would cause or even if there would be any. That said as we've discussed before at the time it was probably the the best thing to do. Oil was around low 30's, the world economy was at the darkest point with no end in sight. They had limited storage capacity and no gauranteed customers to purchase the product. They were actually losing money on each barrel. So considering the options it was better to keep the oil in the ground than produce at a loss. They had no idea that oil would rises again shortly after..So in hindsight considering how much it cost them to repair Pod1 damage, if they had known oil would rebound that quickly they would have probably kept production at full steam and ate the short term losses.

If management can be accused of a bad decision over that I'd argue it was because they were too cautious.