Akerman

The term "We seek safe harbour" is a legal provision or statue that reduces or eliminates a company's liability under the law, on the condition that the actions performed by the company were done in good faith.

It is quite common for this phase to be used by exploration companies and is now used in lieu of the paragraph that was used more commonly up to a few years ago. That paragraph started something like.. "This news release contains forward looking statements..........."

You shouldn't read too much into CIVC using that term. It is used quite often by most junior exploration comapnies. For example, last summer when CIVC and partners were drilling Shoal Point we all knew it was a high risk speculative play. But by using that legal phase in any press releases that they issued CIVC was giving themselves some legal protection in case things did not go as hoped. I read dozens of news releases each day that are issued by junior exploration companies. Most of them use the term "We seek safe harbour"

With regards to the PP for $600,000 while not much, it do offer a little bit of hope that the Company might survive long enough to come to some sort of deal with another operator to move along Shoal Point to the next stage. What is disappointing is that the amount raised represents only a small portion of the two million dollars that they have been trying to raise in their PP since June. They were given an extension in July by the Exchange to the end of August to raise the full amount so we may see another announcement before then. Given the current environment in the oil and gas exploration industry and the frontier nature of the area with its attendant problem of lack infrastructure, it might be considered a small miracle that they could raise any money at all.

My biggest concern with this Company is the astounding number of shares outstanding. IMO if they can survive as a legimitate entity and move their projects ahead without doing a roll back then that will be the big miracle. With over four hundred million shares outstanding the Company and its shareholders are between a rock and a hard place. To be taken serious by new and bigger investors a roll back at some point is, IMO, inevitable. A roll back in most instances is not good for existing shareholders. While an existing sharholder would have proportionaly the same stake in the company after a rollback a stock will typically drop even further after the roll back is complete. This of course would erode shareholder value even more.

I am neither a basher nor a pumper. I am a long term holder of shares in this Company and would love to see them suceed both for my own personal gain and for the benefits it would bring to my Province. But to date, it has not been one of my most astute investments. However, that is the chance you take when you decide to back a small locally grown company. Whatever else can be said about this Company we have to acknowledge the dogged determination demonstrated by the people at the top. It would be nice to be able to get some discussion going on this site.

cheers

Killick