Sharky:

My own opinion, (subject to being wrong of course) is that we are entering a difficult period for the economy. My belief is that OPEC will cut back production to defend the oil price at $100.00. They still have a finite and declining resource base and it makes no sense to spend a declining resource quantity on profligate production/consumption which only supplies a declining resource level on unneeded consumption.

There is no question in my mind that the United States will begin to exploit the petroleum resource base available both within the continental US as well as offshore. This will be true regardless of the outcome of our pending election. There is no way that alternative energy can be brought on fast enough to prevent massive economic dislocation. Therefore, we have no choice but to develop at long last our considerable untapped hydro- carbon resources.

As for Connacher, as we can live very nicely and profitably with $100.00 oil, we should be just fine. The major issue for Connacher remains execution on its business plan. We need approval on Algar and then expeditous execution of construction and commissioning. Petrolifera has got to begin pulling its own weight and delivering on its formidable potential. This would contribute significantly to Connachers balance sheet and ability to execute its business plan with an with added comfort level.

So far, Connacher has done just fine. At least on business plan execution. This element needs to continue and accelerate.

One concern. Will CLL's preferential treatment of insider options (lack of dilution for insiders) as capital requirements continue, become a drag on non insider common shareholder value? This concern potentially becomes a show stopper for me if Connacher does not carry thorugh on its plan to "self finance" beyond Algar. Personally I have no interest in facilitating the "insiders" march to extreme wealth for themselves and domination of shareholder assets through their utilization of my assets at the exclusion of my interests!

Brian