Everyone is free to do what they have to do..........but I'm staying put. If I had more ammo, I'd probably GAMBLE a little more.

Why? Am I insane?

Well, maybe. But realistically, this asset is too valuable.

Plus, what about all the unknowns.

- First off, we don't know if the PP is dead yet or not. Sure looks like it is, but then again, maybe we are just being softened up to accept an even higher CVR %.

- Second, how much do the bondholders want in the event of bankruptcy. They can take their chance in front of a judge to get the whole pie, or they can settle for a smaller amount. Some rumours say they want 90%. We probably offered 50-60%. Who's to say we don't settle at 75%? Which is awful btw, but thanks to our managment, we're here now.

- Third, who is to say we can't just take a stink settlement from Venezuela right now. I mean, I'm sure everyone can agree that we spent over $300+ million on this play. Maybe they had already approached us with a low ball bid. Either they can give us 300 million now, or take their chances against the bondholders, who, I'm pretty sure, have no problem going the length for a big payday. They seem to be pretty greedy after all. Heck, after paying the bondholders off, a $300 million settlement still leaves us with $200 million for shareholders, or $0.50 a share.

As you can see, management might still have some options to excercise in this play.

My opinion is that we are just being softenened up once again, just like before the Chinese deal which saw us give away almost 66%.

I guess we had no ther choice, right? wink, wink.

I'd like to know what Teut, No_Bear, or Turtlefoam think right now? Or what their sources have to say about the PP? Or have they been scared away too?

Cheers,

FK.