RE: RE: RE: Q2 Cash flow plus Other Namsoc,
Thanks for the response. I was also wondering why in your use of cash over the next 1.5 yrs you estimate COS will repay $300mm in debt versus simply extending it out in a simple refinancing? My belief is they will refinance it and therefore it is not a cash use item.
Also in your estimate for dividends for 2015 I agree the price of oil is a big driver.At some point Syncrude should be producing at an average of 350,000 bopd not the 300-310K bopd. If you believe, as I do, that that should take place by 2015. Then the cash available for dividends after corporate taxes should increase by a further $1.5/yr per share.
What do you think?