However, Suncor soon withdrew from the venture, and Nexen returned to take a 50% stake. In 2004, the OPTI decided to expand Long Lake to commercial-scale, and raised over $1.5 billion of private equity and debt. Also in 2004, OPTI underwent a $300 million initial public offering (IPO). In January 2009 OPTI sold 15% working interest in Long Lake project to Nexen for $735 million, following an 89% drop in share price and increasing expenses. In early 2011 OPTI faced severe liquidity problems and an inability to service its $2.8 billion debt. Its shareprice closed at $0.30 on February 4, 2011, down from a high of $24.85 in 2008. Analysts believed bankruptcy or restructuring of the company was likely.