The Monitor's Second Report dated March 24th is now available at:

http://relieffromdebt.ca/documents/c...

Item #20: states that Canadian Superior's Appeal of the granting of the Receivership Order was heard on March 10th and denied by the Alberta Court of Appeal.

Item #24: "at this point the environmental approval for the seismic work has been obtained. The environmental approval for the drilling program is not yet in place." This is concernining Canadian Superior Trinidad & Tobago's program to drill the M/ G Block.

Item #28: Canadian Superior has already spent US$9.6 million dollars to fund its US $10 million dollar share of the pre-construction costs of the Liberty Natural Gas Project in New Jersey.

Item # 30: Canadian Superior's partner in the Liberty Project is Global LNG Inc. which is controlled by Greg Noval .

Item # 43: " Scotia Waterous is confident a sales transaction can be consummated. Scotia Waterous recommends that an additional period of time is required to review and further negotiate the proposals with a view to receiving firm offers that will lead to the execution of a definitive purchase and sale agreement (PSA).

Item #44: "Upon the execution of a PSA, the JOA provides that the parties to the JOA must be notified of the PSA in which case they have 30 days to act upon what is effectively a right of first refusal."

This is very interesting reading.

Best Wishes; Scott