Very good question, DB.
I suggest that Gusella was referring to $60 raw CLL Bitumen prices which will translate to about $105 for WTI oil.
Based on the official CLL numbers:
Operating costs ...$29/bbl
2009 Royalties ...$6/bbl (2008 ...$0.7/bbl)
Financial charges...$20/bbl ($15millions in Q2)
General and Administrative $7/bbl ($6 millions in Q2)
Taxes ...zero (they can use tax pools for few more years if they elect to do it)
Total cost......$62/bbl (of Bitumen)
WTI oil about $105 to brake even on bitumen production.
Assuming that the operating cost will go down to $25/bbl and transportation cost will go down to $1 (pipeline).
Total future (2009/10) cost will be about $55/bbl.
In 2011 their royalties will jump to $25/bbl if WTI will stay in $120 price range. This would require about $125 WTI oil to brake even.
