RE: RE: BBBA - from TD Waterhouse Feb26/09That's from 4 months ago. Based on the short form prospecus dated July 7th 2009, they had drawn additional 240M from the credit line in the past three months to fund operational & capital expenditures. The capital spending from your quote is preparational (engineering for example) spending, not the actual capital required for future phases. The prospectus mentions 800M spending so far beyond phase 1, by Opti and Nexen. I figure Opti needs to fund additional 1500M or more for just phase 2 only. The same prospectus also mentions 600K PSC produced so far. That translates to about 1200 PSC bpd, and I think actual PSC sold is quite less than than due to dilbits usage. So the sale of PSC (oil) is about 1/20 of what you "hoped". Oh, that 600K PSC includes bitumen source outside of LLJV (bought from CLL) - since LLJV SAGD didn't produce enough bitumen.
I do not own OPC for the past months or so. I planned on getting back in, but every news regarding Opti makes me to lower my re-entry expection.