As the presentation went very quickly, here are the notes I got from the conference call. I think I got it all.

1. Run rate 8,000 BPD at present.

2. Clean out of Vapor Recovery Unit caused lost production.

3. Steam Injection Rate Now Building.

4. Alberta Price Recovery $95.00 BBL.

5. Ops Costs Higher Due to Plant & Process Learning Curve. RG

Said They Are Getting Down Learning Curve.

6. No Profit From Refinery.

7. Algar Approval by Oct. By Oct. Unfortunately, AEUB Bogged Down

8. Planning On Co-Gen Plant for Algar @ Cost of $28 MILL.

9. Have Adequate Capital To Accomplish Algar.

Dick handled the bulk of the call.

For my own reaction: I feel more comfortable and having spent my working life around new plant projects, I understand the problems inherent in any new plant operation. However, get the problems under control! Having said that I do understand and I think Dick does Too! At least, thats the impression I got. Got the feeling RG can be pretty tough when he is not getting everything he wants. GOOD!

Brian