In my opinion, Canadian Superior Energy must sell its 45% holding in Bloack 5(c) in Trinidad. My position is that if Canadian Superior sells only 25% of Block 5(c) to pay its debts to British Gas for completing the Endeavour Well and testing it, and to the Canadian Western Bank and Canadian Superior uses the rest of the money to develop their remaining 20% of Block 5(c) that they are going to run into financial problems in the near future again. If Canadian Superior retains 20% of Block 5(c) going forward, it will be at the mercy if British Gas which is now the operator of the project. Who is to say that British Gas will develop Block 5(c) according to the schedule that Canadian Superior wants? For example if Canadian Superior wants to develop the project over the next 4 years so that they can slowly raise their share of the capital needed over a number of years to develop the Block along with British Gas and another partner (who picks up Challengers 25% and 25% in the coming Scotia Waterous sale) who is to say that British Gas doesn't have an accelerated plan to quickly ramp up the development of Block 5(c) over one or two years and drive Canadian Superior Energy into bankrupcy again? There is also the issue that there has been bad blood between British Gas and Canadian Superior Energy due to BG's going to court to have a receiver appointed last October for the project. Will BG be happy now that the board dumped Greg Noval and Mike Coolen and will British Gas put the past behind them and be a co-operative partner? Past history to me says no. British Gas' past actions indicate to me that they will treat a junior partner like Canadian Superior with disdain and push them around every chance that they get. It's the nature of the beast ( BG = Big Gas ). Canadian Superior would be better off selling all of their Block 5(c) holdings and washing their hands of British Gas. Canadian Superior should also pull out of the Liberty LNG project in New Jersey and focus their efforts on shooting the seizmic on the M/G block and putting their resources into the M/G Block for 2009/2010 with their partner Petrotrin. Once they have money coming in from developing the M/G Block then they should look at Tunisia/Libya or Nova Scotia. The Western Canadian basin lands should be sold when the value of the land goes up in 2010 or 2011 and then Canadian Superior can become a totally international player.

This is my opion only. I am interested to hear other's views on what SNG should do going forward from today.

Best Wishes; Scott