You know, they put the hedge on at the very bottom. That is like me selling my shares at the bottom! They borrowed money 1 year before approval for Algar! That's like me borrowing money to buy a house and not buying it for a year, BUT paying HUGE interest. I have gotten 0 interest in the past year. Maybe they should have asked their investors to loan them money. 10 percent sounds good! ......unless you are going to default! Bought Luke at the top! Teck Cominco's Lindsay screwed up but got out smelling like a rose! The only reason to "waste" our money on PDP was to have control to make more salaries for running PDP (and options). Didn't Dick go tit's up in the 70's during the other oil boom? I don't want to start rumours or malign Mr Gusella, but I faintly remember something of his past endeavours! I remember seeing him on BNN with his reading glasses stuck on his nose and thinking how poor he was at representing a company. Should have sold then! I still can't beleive that he had "leveraged" stock and got "stopped" out on margn call (at about 2 bucks, if memory serves me). A millionaire shouldn't be margin called! I can't recall him buying back in, just getting options! It is soooooo obvious that he has been in bed with the bankers on this! I have watched how they let this stock run up and then beat the snot out of it! Traders (especially traders with "knowledge") have made a fortune on this one. The idiots have been those who bought into a project as investors. Fortunately I did well with my gold over the last 8 years. I t has been painful, but I made a promise that it would be good in 10 years. It is still possible, but way too many management mistakes have been made with this company. NOBODy wants a 10,000 bpd oil refinery! Hedging with Luke was a mistake. Me buying into the marketing hype of CLL was my mistake! It has been a tough 4 years! Why stay in, I don't have much more to lose!

Richard Gusella should be ashamed of his mistakes!