RE: low share price Regarding why defer expansion plans:
1) Need to figure out how to make the last phase they built work first. Prior expansion did not go well. Reliability poor and significant capital spending in just getting things to work right. While PR tries to sugar coat it, there were a lot of corrections to the initial design needed to make things work acceptably. Before any new phase is begun, COS needs to be sure it has a good understanding on how to make the next phase work as designed rather than build something and then go back and rework all the design mistakes.
2) There is no point in increasing production if you can not ship the product. Delaying expansion until adequate pipeline capacity exists is only prudent. The increased fracking production of oil across the border is further agravating delivery bottlenecks. Getting sigificant pipeline capacity to the pacific coast is a priority. It is better for shareholders to leave the extra oil in the ground for now than face heavy discounts on pushing sales to glutted areas and paying heavy shipping costs to deliver by rail.