Did you get to this China Lake yet? I just got it today 4-Jan-2008.

http://www.isecureonline.com/Reports/ESI/EESIJ101/?o=1419337&u=28182711&l=838850

It appears that they are very close to final testing on a technique which will make extracting the oil profitable, after decades of trying. It is certainly a revolutionary technique called ICP (In-situ Conversion Process), which simutaneously heats [650 degrees Fahrenheit] and freezes the oil shale in the ground. The ground surrounding the oil shale must be frozen for about 18 months to contain the oil from leaking into the water tables. The benefit of this approach is that the oil comes up clean and liquified, making less mess of the environment, and easier to handle above ground.

One thing to note about the oil shale is that despite there apparently being more oil share reserves than in Saudi Arabia, a very small percentage of it can be extracted using this technique.

As for Connacher, they are producing oil using the SAG-D (Steam Drainage) process, but thier profitabiltiy is always hampered by the canadian government changing thier operating environment with taxes/royalties. Royalties for these companies have gone up considerably. They will make profits, but nothing like they were projecting before teh change in the royalty schemes.