Havent posted in a while but read every post...some topics have become a little fuzzy since they have been discussed at great length. I want to touch on the blackout and a possible NDA.

As I had mentioned many months ago, I work for a mid-cap oil and gas company. The company went through a sales process due to outside interest in the company. Although my example is from a different industry, there are many similarities. To start, our entire company was blacked out the minute our data room was completed and became active. There were no negotiations as of that date but the executive and legal council chose this course to protect all employees and exec's from possible issues. I believe that the BFS is similar to the data room...they both contain substantial information that trained groups can analyze with respect to resources, costs, facilities, and future benefit. All interested parties had to sign a NDA before they could access the data room. I assume the case would be similar to anyone that will see, or has dealt with CUU's BFS. If everyone at CUU is blacked out as many people here have discussed, one could come to the conclusion that the BFS is complete and now in Teck's hands. We were also told not to say anything, and direct any questions to legal council.

It took the better part of 4-5 months of analysis and negotiation before our company's sales process wrapped up. Again, what is similar in the situations is the number of companies that can afford such an acquisition...I was guessing that there were about 8 companies that could have afforded to purchase our company, but even less companies that had similar resources in the area to maximize the use of facilities in conjunction with their own resource base. This is why i truely believe Teck will be the suitor.

My only real question's are will we find out if and when the clock has ever started? Has ES allowed extra time for Teck to get their ducks in a row? Wouldnt have Teck already been getting their partners in place knowing the BFS was close???? We all know they have the money to act....now are they negotiating a price? My ex-wife (Maude) - just joking Art - misplaced my crystal ball so I dont have the answers. Can someone enlighten me as to how long this process takes usually once a suitor starts reviewing the BFS? Hoping they have started the review...

Cheers Longs!

911