PS. Look at the value of other partners taking an ownership position in an upgrader. OPTI Canada, SYN, and Canadian Oil Sands Trust. Throught these you will get an idea of what is instore for UTS.
Petro-Canada did not give them $300 million CND to just sit on the project.
In order of development SYN, is a 60% owner of the Northern Lights project and it is in permitting... trades at approx $25 CND (Went public a few months ago at Approx $18 CND), SYN is in the permitting and siting phase of its upgrader project...
OPTI Canada is a 50% owner and has the first phase of its upgrader underconstruction with Nexen, other phases have been announced, first steam is planned for late 2006 for the SAGD portion and pahse I upgrader commisioning is scheduled for early - mid 2007 Trades Approx $45 CND.
Canadian Oil Sands Trust is a 39% owner in the operational SynCrude project. I think at approx 220,000 BBL/d and has stated further phases. Trades at Approx $160 CND.
Follow the chain of development and you will see what is coming. Money where my mouth is DWOG = 25,000 shares, SRGG = 10,000 shares.
Stuff to watch for.
1) IPO of BA Energy
2) POU and its dealings in the oil sands patch. Has income and is silling on a large chunk of the oil sands.
3) PGB, will its technology play out in 2006
4) CWPC, lab results and a posible move to the AMEX or another major exchange in the near future. Company could be sitting on enough reserves to support 5 - 6 different production/upgrader projects and taking a 30% - 35% interest in each...UTS times six.
5) BlackRock Ventures, will they go the same way as Deer Creek Energy???
All in MHO.