I have no axe to grind with the management. I think they are good people, doing their very best on behalf of the company, under difficult circumstances. Thats about it. The concept that people are getting screwed or ripped off suggests to me its more about some people who are poorly informed, or have a need to point a finger of blame for the fact that the stock is not performing as they have hoped.

We cannot go back in time and re-do buying at higher prices, and the company cannot go back re-do some of the decisions. Instead we can look ahead and decide what options present the best chance for success going forward.

For those that are bitter about this deal, I ask:

What will happen to ECU if the deal is not approved? How will the company achieve and sustain a higher share price? Where will the money come from to pay for more drilling, pay down debt, and fund development to enable any profit to be earned from operations? If there is another PP, will the dilution and disruption be worth the weeks of hassle and will it drive the share price even lower? Then what?

I have high hopes for the drilling to achieve positive results. I think ECU will rise as a result even pending the merger, and if further success is realised I think AUM will benefit from the news too. And keep in mind that we will have leverage to two flagship projects under way, as there are 3 drills turning now in Argentina. People should look up the news from the El Quevar project so far to see the incredible grades and intervals that project has yielded so far.

I congratulate the management of both companies for having the balls to make the move. I have not heard much positive commentary on that alone, and is very hard to line up a good partner and win a good price for a merger deal. I do not think I would have a chance for a better offer with a better company at anywhere near the current share conversion rate to maximize my ownership interest.

cheers!

mike