These guys may be experienced but I don't think they should be running a public company. Communication to shareholders is pretty poor. This is the first development update we've had on Saddle Hills since the Enviro permit back in June and it's a bit of a stinker. 6 month wait for that.
I have the feeling some directors read hotcopper so here's a question for you to clarify please:
Ross answered a question in the webinar and said that (paraphrased) if Saddle Hills was developed it may have to shut down in 2035 because it won't physically abate the emissions.
However in the presentation it states...
So which is it? Is Saddle Hills a dead on arrival project (sub 10 year lifespan) after we've been waiting some 5 years or more, or is there a scenario where it can continue to run until it's use-by date?
Also, what does this mean for all the compressor stations that were talked about a year or two ago? How are the oil sands leads looking?
The share price today is down 22% on significant volume. Management need to address a lot more concerns as the webinar has obviously raised more concerns than it did answer questions.
I would email the company but they've never replied to my emails (which to date have been upbeat).
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