Hi Jurek. You raised some good points. Buying PDP shares was not budgeted for in the last presentation for the Summer /Fall that Connacher just put on their website nor was this purchase mentioned in the Conference Call for Q2. You are correct in terms of bleeding cash...a little here, a little there. I agree with you that PDP at this point is becoming a costly distraction for Connacher management. I think that Connacher has a solid plan going forward and their capital budget is solid and that spending $20 million for PDP shares going forward does not stick with the capital budget, and as you point out it can indicate to concerned investors that CLL management does not stick to its prime directive / its capital budget.

What to do then? Connacher originally spun off Petrolifera because Connacher did not have the resources to fund Petrolifera projects or growth going forward. PDP was set up to raise its own financing on the market. Are we at the point now where Connacher management needs to make some hard decisions in terms of turning it's back on Petrolifera and letting it fend for itself? Can Connacher afford to continue its involvement with PDP especially in the current economic climate? Is Dick Gusella's role as Chairman of PDP now a conflict of interests for Connacher shareholders as his prime job is being the CEO of Connacher and improving Connacher's share price, not trying to raise funds for PDP shareholders?

Connacher would raise very little money today by the outright sale of its shares in Petrolifera. On the other hand Connacher cannot afford to blow $20 million to maintain its current 24% of PDP just to maintain the status quo in a company whose share price has severely declined over the last two years along with its oil production numbers. Should Connacher just stay out of the share sale and let its ownership position in PDP naturally decline and thus be a declining asset for Connacher shareholders? These are questions that shareholders should be asking themselves. Once Connacher shareholders have reached an answer to these questions the answer should be conveyed to management during the Conference Calls each quarter or via E=mail to Connacher management right away. Petrolifera may be a bridge too far today. It may just be a dream of hitting it big in South America that Connacher management cannot shake. Connacher management has already spent 4 years trying to realize the dream of untold wealth that Petrolifera poses and has come up empty. What happens the next time Petrolifera needs more money?

Best Wishes; Scott