Nexen Inc. (NYSE:NXY, TSX:NXY), a large energy producer based in Canada which has a massive stake in the Long Lake Project in Fort McMurray looks to complete it's new Upgrader asset. As of September 2, 2008; a press release from Nexen revealed that the Long Lake project was moving along on schedule and that 90% of the upgrader to their extraction and processing asset's were commissioned and eluded that the upgrades would be complete by the end of the month.
We are coming to the end of the month and I look everyday for news of completion. This Upgrader will allow Nexen to begin it's first production of it's Premium Synthetic Crude product. All resources and materials for production are all procured and allocated to begin production the the new energy product and is believed by analysts to raise the price of Nexen in the $30-$35 range.
The best bet is to look at the October and November Calls to best position one's portfolio to benefit from this growth.
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