Upgraders Value in Question??
What is the upgrader really worth? I believe this is a question we should be asking ourselves as COS share holders. Clearly in the markets evaluation of COS they do not give us one red nickel in terms of our evaluation for having an upgrader. Then you have to ask what would our production be without an upgrader? where are the bottle necks in the process and ultimately what would our reliability be if we didn't have an upgrader. It appears to me that a good portion of the production issues this year have been upgrader issues. Maybe the management should focus on getting maximum revenue from the plant, rather then posting slides on how undervalued COS plant is, and demonstrating incompetence with respect to contingency plans and keeping the plant running and generating a healthy return on the plant. If the upgrader simply provides a bottle neck to reduce the production of bitumen is it really worth anything??