Not disheartening at all. It makes no sense to spend $11 billion to produce 100,000 barrels of bitumen, which then need upgrading into synthetic crude oil. That's the big-money economics of mineable oil sands, as projected by the Total engineering.
In-situ oil sands extraction is much cheaper, much less intrusive, and has no tailings or tailing ponds to deal with.
Recent costs for in-situ (last few projects) are about $35,000 per flowing barrel. Going by those costs, 100,000 barrels of in-situ extraction would come in at $3.5 billion capital expenditure (capex), which is about a third of the cost of the mineable project Total just scrubbed.
Nice try at propaganda, bud. You keep on hating DWOG, we will keep on buying it. Please sell us your shares! Put them on the market at 30 cents, and you can enjoy peace of mind instead of being full of hate at a company that is solidly managed and making great pogress towards first oil.
