Claren Energy Corp (CNENF)

[Smooth]

Do you, or do you not believe that Aldorf and Nico, while serving as Officers and Directors were involved as principle owners of Perceville?

I have no reason to believe that either Nico or Aldorf were principal owners of Perseville...in fact, I've been told they have stated they are not. What basis do you have that they are...other than speculation? Remember, Nico abstained from the vote to sell the 5.16% to Perseville simply due to being Carlo's son...but not because he was a Perseville owner. This is in print.

And if you do, do you think it was alright for them to take the "inside" information they received by using shareholder raised cash and buying assets secretly at 1/7 the cost of what TGC shareholders had to pay to get their share of the similar asset?

I'm sure Nico and Aldorf KNEW about the Perseville purchase. And it would have been great if Carlo would have agreed to buy 5% for $3 million so TGC could have bought 50% for $1mm...but evidently Carlo was not feeling charitable...he was being greedy...some say greedy and illegal...that will be determined in time I guess.

Fortunate for TGC shareholders that he did become charitable at a later date and paid $3 mil for that 5.16%...a small windfall for TGC shareholders that would now allow them to propose and move forward with a 3-5 well program. It's not the ideal outcome I would have wished for, but this is, unfortunately, the way many many penny stocks play out. All kinds of games and often dilution of shareholder equity. Hopefully now, TGC does hold 20% in each Pel and any further "games" are not in our future. Drill baby drill!

My concern is that if the dissident slate wins, their "games" may just be beginning. I know you are convinced that Henc will put up their money so as to hold onto their full 50% working interest, and I agree they will cash up too....especially if the current TGC slate wins the proxy...they'll simply have no choice. If however, the henc-backed dissident group wins, the drilling may very well be substantially delayed after the one required (by June 15, 2016) well is drilled.

I have heard from a number of sources that HENC, Holloman Corp and Holloman Value Holdings are somewhat put off with all the money they have sunk into non-core investments which to date have not paid off, and would very much prefer to dispose of these non-core assets and get back to and focus on what they do best and what they can controll. But of course, they do not want to sell anything at the most inopportune time(like now?).

Sooo...maybe they're willing to fund their 50% drilling cost on this next well...with TGC funding their 20% and Perseville their 30%.(note, as a result of the cancellation of the FIA, Perseville must now pay their 30% cost for all wells drilled, whereas prior to the FIA being cancelled they were being carried for free on the next 5 wells, I believe. I wonder how thrilled the greedy Carlo felt about this!...hmmm? I'll bet he wanted to put his son in time out!)

But if the dissidents win, we might very well see a substantial delay in the next well(s). Henc may inform and encourage the new dissident BOD, WHO NOW IS ALSO WEARING THE "OPERATOR HAT" that they do not want to move forward with further drilling until such time as they are ready...aka "until they have been able to raise funds by selling stock or by selling off some of the 20% working interest windfall TGC gave them by cancelling the FIA?"

Heck tchauncy...by your own admission, you and your shareholder friends own a ton more HENC than you do TGC. I would think you'd want a 3-5 well program to proceed asap and not take a risk of a Henc initiated delay.

For that matter, all shareholders, be they TGC, HENC or even Perseville....all should want a valid 3-5 well program to be in place. It might very well be that the current TGC BOD will provide such a liklihood...while the dissident board may not.

Tchancy....you've know Grant Petersen for years. What your opinion of what he lays out in his own lawsuit. Looks like he's has no concerns about scruing shareholders as long as he benefits. He is close to the dissident board with the henc backing?

Heard too that STBR dissident slate would like nothing more then to have access the cash on TGC's books...or even to merge TGC and STBR .

As I said earlier, I want what will be the best financial outcome for ME ME ME ME ME! I'm thinking one group is done scruing me while another waits in the wings to perhaps start!

JMHO....at the moment!