Valuation.....Looking at general Capex for new facilities(Fort Hills/Kearl), anywhere from $85-$95K/bbl....The production share of Syncrude is .37 x 300,000bbls= 111,000bbls..........@ $85,0000 capex per bbl. Outstanding shares..454 million...........aprox. valuation $20.60......... Now this is a bit of a premium from todays price but that what makes this so attractive.........I know Suncor and IMO are the leading candidates, but CNRL could offer a few Synergies to the Mix.....note The 300k/bbls production rate is a conservative number after the last two projects have been completed.