RE:Q1/2023 COP CC Second Question by Neil Mehta On SurmontThanks ztransforms and kudos for your patience!!!
The response by COP was actually more than I expected them to make. Usually a company will say something like "This is an active item on our agenda and when there is a development we will let the investment know the results".
So what's in the tea leaves?
1....For sure they are not going to sell their 50% to SU unless SU is willing to pay some ridiculous price for it.
2...from their perspective the math is really good, low capital intensity relative to the returns and the site fits into their long term plans as they have just completed some key capital investment.
3...they also said nothing along the lines of "We welcome Suncor as a new partner in the project"
My Spidey sense?
Would not surprise me that they exercise their FROR.
The big winner here?
Total....