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Strategies & Market Trends : Value Investing

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To: Wyätt Gwyön who wrote (16588)	3/11/2003 2:30:43 PM
From: Gulo	of 78670

Suncor is <$9 per barrel for its blended production, while Syncrude is in the high teens for its Suncrude Sweet Blend. Both operations remain profitable down to roughly $22 WTI. It seems that everyone ignores bitumen because it is halfway to coal in most peoples eyes. Syncrude, Suncor and Albian Sands obtain their bitumen from open-pit mines rather than oil wells. They wash the oilsand and skim off the oily froth and dilute it to recover the 8 API oil. Recently, some progress has been made with Steam Assisted Gravity Drainage (SAGD) and with Vapour Extraction (Vapex). There are a few operating SAGD plants producing a total of a few thousand barrels per day. More than $50 billion worth of capital investment has been announced for the Athabasca deposit for the next decade. -g

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