Booster,

This maybe the answer you were looking for. Posted by Planet on the PDP board. In addition to his opinion I would add that today you can clearly see that the CLL share price has no correlation with the PDP. Due to the dilution in both companies, PDP is adding only 5 cents to CLL NAVPS ($1.2 two years ago).

"In some ways I agree with your assessment of what happened, but from this management group I am suspicious of a new drive towards dilution similiar what they have done to Connacher.

Because of the crude price cap in Argentina they are willing to give up cash flow and go head-long into Columbia before they have a production base and at the rate they spend money this could be a disaster.

During the early days of PDP after the giveaway by Connacher and an IPO of 1.75 they were very succesful in drilling, building a solid production base building the infrastucture they needed to get the product to market, stations, pipelines, waterflood etc. but as a group they always seem to want to go after more financing and dilution for present shareholders, can't quite understand why they find this necessary.

After their debacle with the ABCP cash My feeling that the next PR will be some kind of announcement regarding a selling of new shares at this driven down price more dilution, it all looks very murky and until it clears up I am hesitant to pick up more from a Management group that's main objective is dilution and building debt not in balance with production.

Not bashing just reality in my opinion. I don't like it but it seems that the market agrees presently trading at 1.94 down 25% at this time. very ugly"