Martin:

Another option would be to sell a portion of ones position in Connacher and redeploy the proceeds into a more traditional and less speculative position. Thus hedging ones position and creating a situation of reduced vulnerability to what by now, I think all would agree is a stock which offers likely a fair bit of risk, volatility and potential for a wipe out. At the same time retaining a smaller position in Connacher with less attendant downside risk than Connacher.

In my case, I already know where I will likely redeploy. And it is another oil company but one with a very long successful history, as a major player in virtually every part of the world, is growing having just made a major acquisition a year ago, pays a nice dividend and is non US domiciled. I think the US is in for some difficult times as our government will try to inflate their way out of our debt problems with the result of a depreciating in value US$. This company is domiciled in one of the strongest currency countries in the world. So it will likely provide opportunity for currency gains as well as the stability of a major in the international arena. And oh, they also have production in the Sands (SAGD) and a major land position in the sands to develop.

Additionally, if one has gains in other holdings, which they have sold, as I do, then at least one gets a write off against those gains on their taxes for any loss they incur on Connacher. And it is time to start planning for tax season. As I have been here for the last four and a half years in Connacher, I do not think my holdings could be described as short term or I as impatient.

If any are interested in the name of the company I referenced above, please give me an inbox and I will be happy to provide the name.

Brian