email from md, page-2

Thanks cdchi1, nice update.

I was trying to contact Alistair Campbell by phone to clarify their decision, but haven't been able to get hold of him (I am quite busy and it turns out he is too).

I had been told that the capital costs had blown out to levels much greater than the $10.5m quoted by Exco Resources in any case. Using higher levels and accounting for greater dilution the project still seemed to be value adding, but I suspect that the financial environment (as mentioned in your post) and the increased risk associated with the greater outlay/debt requirements were the overiding factors in their decision to walk away.

Management seem good to me and I am sure SYR will progress well in 2008.

Cheers
SBC