Good work Spide.
First the good news. Nov5 bitumen price moved to $50bbl (highest this year).
If CLL bitumen production will exit 2010 at 14,000 to 15,000 bbl/d they will not be selling bitumen below the cost anymore (cost including interest expenses but excluding 25% future post-payout royalties).
Regards your numbers, IMO bitumen netbaks will be closer to $10 millions then $20 millions.
Q4 for October will have Algar production included, so despite depressed October Bitumen price it should show much better numbers then Q3 months.
As always a small reminder that the netbacks are not a free cash available for CLL future expansion. Netbacks do not include the interest expenses and operational capital expenditures( like new pumps, bottle-neck improvements etc....).