Claren Energy Corp (CNENF)

[Tridentone]

Sorry but YOU should reread the document which Tgc published. The former partners,now Perseville, have to put up 500k in the first well. Henc some 1,9 million. If Henc does not pay, it is toast. Cash position at latest SEC filing was 18k. In April "Holloman and certain directors and shareholders" put up 100k in cash, of course without filing any insider reports, just as they never filed in the previous quarters. All the Henc pumpers keep on saying that Tgc should have raised all the money, or should have just sold some more of their interest to generate cash for the drilling. And why should Tgc have diluted itself constantly just to keep the Henc interest intact? Henc's management has no exploration and upstream experience whatsoever. Try raising the 1,9 million, or 5 to 6 million for the whole play in today's oil environment, and for an OTC BB company at that! Good luck.
I repeat, this is the only reason for the proxy fight. The pumpers behind Henc know very well that their only chance at survival is to lay their dirty hands on the Tgc cash!
Terra Nova shareholders beware.