Hi duncanmcl. I have no contacts in the oil and gas industry. I am just a retail investor and do my own DD esentially from SEDI, Canadian Insider, oil company yearly and quarterly statements, and the odd tidbit that can be gleaned from bulletin boards which make sense to me. As far as I know TnT stands for Trinidad and Tobago its not an oil company.

Easy87us on the InvestorVillage board stated the following yesterday which makes sense:

"Re: Some Thoughts (Opinions)SNG has WC [which] is now bringing in approximately 13 million a quarter at today's price of NG... I think people here misunderstood the deal here...SNG is not owing BG money. Based on the PR I think BG is enforcing the contract of pay to play by asking the court to appoint a receiver to make sure SNG cannot sell the interest without paying the drilling cost...If that happen(s) BG will be hurt...So, in order to protect their interest, BG asked the court to put 5C under receivership.

But SNG can appeal and I think they should. The court can decide, based on SNG's current financial situation, is there a possibility for SNG to sell the interest without paying the drilling costs?

IMHO....this lawsuit is purely political and irrational. " Easy687us.

In answer to one of your questions I would assume that BG's negotiations to buy Pure Energy in Australia have nothing to do with their court action in Calagary against Canadian Superior Energy. Pure Energy is in Australia and it might be a BG subsidiary in Australia which is bidding but this has nothing to do with BG's Canadian court appointed Receiver for Block 5(C) so I don't think that BG's assets are endangered in any way.

Looking back on what has transpired over the last 48 hours my interpretation of what has happened is that BG wants the flow testing completed on the Endeavour Well so that SNG/CHQ/BG complete their obligations to gain title to Block 5(c) from the Trinidad Government. It is evident that Canadian Superior owes Maersk A/G (rig operator) money to continue the flow testing. BG as a farmee on Canadian Superior's lease wants to insure that SNG carries out its duties and pays the rig operator for the drilling and flow testing on Endeavour 1 . Since Challenger Energy (the other farmee on Canadian Superiors Block 5(c) lease) cannot pay Canadian Superior for its share of the drilling and flow testing, Canadian Superior is responsible for covering its 26.7% of costs and Challenger's 33.33% of the cost to flow test the Endeavour well. BG has therefore gone to a Canadian court to get a Receiver appointed to insure that SNG pays the 60.03% of the flow test owed in addition to having the court appoint BG as co-equal operator along with the Receiver to insure that the flow testing is completed as scheduled. The ball is now in Canadian Superior's court as they must pay the entire 60.03% themselves or pay their 26.7% and get from Challenger the 33.33% in cash or Challenger shares. If Canadian Superior cannot come up with what they owe fast, they will either have to sell their 45% holding in Block 5(c) or a portion of it immediately to a buyer in addition to getting the $14 million bridge loan from Challenger immediately (either as CHQ shares or cash) or SNG will have to go to court and seek bankrupcy protection by having a receiver assume control of SNG's affairs as a last resort.

Best Wishes; Scott