Hi duncanmcl. Craig McKenzie was the CEO of Canadian Superior but he left before Christmas and went to another company. Mike Coolen as you know is the existing CEO of Canadian Superior. I have been reading the SNG board all morning on Investor Village and the discussion has turned up some points:

1) It appears that BG has payed the rig operator, I believe it is Maersk if my memory is correct, the money owed for the side tracking on the Endeavour wel and the drillihgl. There are certain costs that the operator will have to pay for the problems encountered drilling the well rather than SNG/CHQ/BG. But Canadian Superior is in charge of drilling Endeavour and should have been paying the drilling costs and flow test costs which they hadn't done totally.

2) BG therefore paid the bills to the rig operator and they want SNG's share of the costs. Since CHQ has farmed in on SNG's share of Block 5(C) SNG is responsible for CHQ's share of the costs as well...ie..SNG needs to collect what CHQ owes them. But CHQ doesn't have the money which is why CHQ put themselves up for sale.

3) SNG is mad as they figured they would monetize their share of Block 5(C) to pay the drilling/flow testing costs after the fact (they are the operator of the drilling on Endeavour until flow testing is completed).

4) BG has asked the court to make the appointed Receiver as well as BG the operator of the Endeavour well during the flow testing (since BG has paid the bills). Plus BG wants its money back now, not after SNG has raised the money through its monetization of its Block 5(C)holdings.

5) Some are speculating that BG has already made a low bid offer for SNG's part of Block 5(C) and that Greg Noval said no which has prompted BG to demand payment now through the courts = pay as you play, or conversely no pay no play.

The fact is that two large instituional investors bought a large share of SNG shares in the $2.00 to $3.00 range and they are losing their shirts at present. SNG remains a highly speculative stock selling for 0.53 cents Canadian as I speak and Bock 5(C) is sitting on trillions of cubic feet of GaSSSSSSSSSSSSSSSSSS.... What will the two Institutional investors do? It is in their interest to support Greg Noval at present or alternatively they may now try to remove him from the Board Of Directors of SNG and as Chairman of the Board. I hope that Greg Noval has a suitor waiting in the wings to buy SNG' Block 5(C) holdings or at least put in a suitable bid to get the price up. Maybe SNG's Libyan/Tunisian partner will put in a bid as Libya has billions of dollars that they want to invest in the Western Hemisphere. As long as SNG keeps control of its Block 5(C) share the golden rule is in place. The ball is in SNG's court now. They need to come up with the money owed or a friendly bidder.

Best Wishes; Scott