Hi Jim; I think that Canadian Superior Energy has to sell 100% of its holdings in Block 5(c) as they are basically cash poor at present with a lot of projects on the table. They have to start drilling the M/G Block in Trinidad next quarter and they have a commitment to drill in Libya/Tunisia shortly after that and the drilling of Mariner II off of Nova Scotia cannot be put off indefinately as they have put down a sizeable deposit that they will lose if they do not drill there. If Canadian Superior retains a part of Block 5(c) they will have to pony up their share of a sizeable development budget over the next couple of years to bring the field into production. They do not have nor can they get the money to develop any part of 5(c) as well as to explore on their other projects. What happens when they strike oil on the M/G Block in Trinidad and then they have to develop that? Once again they will need a great deal of cash. Personally, I see Canadian Superior selling 100% of their holding in Block 5(c) and selling Challenger's share(or get the cash that Challenger owes SNG) and restructure the company. Other oil and gas companies will see that the financial trouble Canadian Superior had "wasn't their fault" as the drilling overruns that Canadian Superior encountered on Block 5(c)and the perfect economic storm that hit the world were unforeseeable. Canadian Superior will emerge from reorganization as a stronger company. A year or two from now Canadian Superior will be remembered as the little Canadian Company that despite incredible odds found a massive gas discovery in Trinidad & Tobago. There is no shame in that. Canadian Superior Energy with emerge with a new reputation and the world economy will get the blame and BG will probably come out as the bad guy through all of this.

This Canadian Superior saga just gets crazier and crazier by the day. A high stakes poker game indeed.

Best Wishes; Scott