<?xml version="1.0" encoding="UTF-8"?><xml><records><record><source-app name="Biblio" version="6.x">Drupal-Biblio</source-app><ref-type>47</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Kobari, L.</style></author><author><style face="normal" font="default" size="100%">Lawryshyn, Y.</style></author></authors></contributors><titles><title><style face="normal" font="default" size="100%">A bivariate real options model to evaluate the effects of oil and natural gas price uncertainties on the oil sands projects</style></title></titles><keywords><keyword><style  face="normal" font="default" size="100%">bivariate trinomial tree</style></keyword><keyword><style  face="normal" font="default" size="100%">economics</style></keyword><keyword><style  face="normal" font="default" size="100%">model</style></keyword><keyword><style  face="normal" font="default" size="100%">modeling</style></keyword><keyword><style  face="normal" font="default" size="100%">oil sands</style></keyword><keyword><style  face="normal" font="default" size="100%">project valuation</style></keyword></keywords><dates><year><style  face="normal" font="default" size="100%">2014</style></year><pub-dates><date><style  face="normal" font="default" size="100%">01/2014</style></date></pub-dates></dates><urls><web-urls><url><style face="normal" font="default" size="100%">http://www.xcdsystem.com/iie2014/abstract/finalpapers/I169.pdf</style></url></web-urls></urls><publisher><style face="normal" font="default" size="100%">Industrial and Systems Engineering Research Conference </style></publisher><pub-location><style face="normal" font="default" size="100%">Montreal Canada.</style></pub-location><pages><style face="normal" font="default" size="100%">10 pages </style></pages><language><style face="normal" font="default" size="100%">eng</style></language><abstract><style face="normal" font="default" size="100%">This paper presents a practical, yet financially sound, real options framework to evaluate Canadian oil sands projects. The framework considers oil and natural gas price uncertainties, as well as managerial flexibilities in their decision making process. The Canadian oil sands hold the world's third largest oil deposit. To process oil sands into a usable source of energy, an extensive amount of natural gas, which has a highly volatile price, is required. We show that the importance of natural gas price and its volatility on the optimal investment policies is fading, as the price has decreased significantly in recent years.</style></abstract><custom2><style face="normal" font="default" size="100%">Canadian oil sands </style></custom2><custom4><style face="normal" font="default" size="100%">OSEMB</style></custom4></record></records></xml>