Uploaded November 2025 | Updated September 2026, 23 hours ago
00:00 Thank you.
00:01 There are great opportunities in the oil industry.
00:03 The oil industry is going to play a major role in the future of this province and provide opportunities for a variety
00:09 of other businesses to develop and to service what comes out of that oil industry.
00:13 Terra Nova is well along. Yes, it's over budget, but that doesn't come as any surprise. It's still within, and very much within, the original estimates of what the cost per barrel of oil extracted would be.
00:26 And as long as it keeps going more or less along the lines that it is at the moment, it will be a viable operation that will repay every dollar it ever borrowed, repay all of the interest that it owes, and return to the investors all of the money that they invested on it, with a reasonable prospect for oil in the future, return to them a reasonable profit as well.
00:00 Thank you.
00:01 There are great opportunities in the oil industry.
00:03 The oil industry is going to play a major role in the future of this province and provide opportunities for a variety
00:09 of other businesses to develop and to service what comes out of that oil industry.
00:13 Terra Nova is well along. Yes, it's over budget, but that doesn't come as any surprise. It's still within, and very much within, the original estimates of what the cost per barrel of oil extracted would be.
00:26 And as long as it keeps going more or less along the lines that it is at the moment, it will be a viable operation that will repay every dollar it ever borrowed, repay all of the interest that it owes, and return to the investors all of the money that they invested on it, with a reasonable prospect for oil in the future, return to them a reasonable profit as well.
