Fubar -

One might wonder why Nexgen put over $2M into the project if they didn't think that they would get a big return. I would think that Nexgen (Blackrock at that time) had access to information that we only can guess about. Armed with that information, they decided to make the investment (just as many of us did with far less information).

That leaves me with 2 possibilities:

1) This is a pump and dump con and Nexgen got fooled (just like current shareholders); or

2) MEO (et. al) has the goods and Nexgen bought into the pot.

Come to think of it, are the other partners fools that bought the con or do they also think (like Nexgen) that there is a big payoff in the future?

The current banking crisis shows that a lot a people can buy into a con (for a lot of money). Fortunately, the product in this speculation (oil and NG) is not as arcane and complex as CDO's, SIV,s Option ARMs, etc.

I suppose that each shareholder (and each participating company in the TN project) has to make a decision based on what they felt they knew about the project and its potential. I think that the partners know more than we do and they are still going for it. I think that I'll stay a while longer too.

- Panamax