duncanmcl, I tried to edit my last posting and include the merger of Challenger Energy with Canadian Superior as a 6th option however it didn't take as my 5 minutes was up.

The people on the Investor Village Board have been discussing this as they are looking at Challenger's closing price yesterday which was below Canadian Superior's closing price and they are speculating that Challenger could be taken over by Canadian Superior on a one share for one share basis. This could work as CHQ has about one quarter of the shares that SNG has plus CHQ owes SNG $14 million dollars for the bridge loan plus SNG has 45% of Block 5(c) to Challenger's 25%. Another thing to keep in mind was that Challenger Energy was specifically created by Greg Noval to raise capital at a time when SNG couldn't raise the money to go ahead with exploring Block (5c) on its own. So it was only set up for a limited duration.

So SNG and CHQ theoretically could merge and then SNG could sell BG 20% or 21% or more of the combined CHQ/SNG shares giving it controlling interest and SNG would have the cash for the development plans or

CHQ gets sold which sets a value for SNG's 45% of 5(c) and then SNG sells out ot BG or the highest bidder and moves on to drill the M/G Block in Trinidad and the Libyan/Tunisian Block.

Cheers; Scott