It's too bad Mr Gusella had to sell (involuntarily)part of his stake in both CLL/PDP in order to cover his margin call. He placed a lot of effort in running and promoting the company from the ground up. But he will continue to run the show and will be adding back his shares when time is right for him.

Petrolifera chairman involuntarily sells shares

2008-10-14 08:07 ET - News Release

Mr. Richard Gusella reports

PETROLIFERA PETROLEUM DISCLOSES EXECUTIVE CHAIRMAN'S INVOLUNTARY SHARE SALE

Petrolifera Petroleum Ltd.'s executive chairman, Richard A. Gusella, has involuntarily sold a significant percentage of his common share holding in Petrolifera since Oct. 3, 2008, in order to meet margin loan calls.

Mr. Gusella has advised the company's board that he is "very disappointed to have been required to sell any shares of Petrolifera involuntarily but the sales were obviously triggered by the unprecedented deterioration in capital markets triggered by the worldwide credit and ensuing financial crisis. I have been a substantial individual shareholder of Petrolifera since the company was formed in 2004 and recently added to my shareholding position through a considerable dollar value purchase of additional shares from the company's last new issue in June, 2008, at much higher prices than today. My confidence in Petrolifera and its outlook obviously remains undiminished and I anticipate again adding to my holdings as circumstances permit in the future."