Does this help?

Selected portions from slide 12 of June 2009 CAPP Presentation

(please verify for accuracy as my cut & paste didn't work too well)

"Margin compared to a pure bitumen producer

Constant US$65 WTI $/bbl of bitumen

Corporate Netback Contribution

Bitumen Netback ....................................... $23.94 (3)

Conventional Netback ....................................... 4.25 (4)

Refinery Netback .0..................................... 8.18 (5)

Corporate Netback ....................................... $36.37

Coporate G&A ....................................... (6.24)

Adjusted EBITDA ........ ....................................... $30.13

Maintenance and Replacement Capital................................ (6.30)(6)

Full Cycle Operating Margin................................. $23.83

(5) Assumes estimated average throughput of 10,036 bbl/d, feedstock purchased at US$55.67/bbl, refined products sold with a spread to WTI of US$6.97/bbl and operating costs of US$9.26/bbl, implying a refining margin of US$7.03/bbl of throughput."