Strat Petroleum Ltd (SPRL)

[velvet mallet]

Rich,

Thanks for the trust. As far as your opinion on the NS issue I have to believe Joseph. He worked for Merrill Lynch for several years before he went out on his own and now is head of a Capital Fund with well over a billion dollars in investment. If anyone needs proof just look up Aurora Capital Group Fund and check their performance.

He is also Strats business consultant and a long standing friend of Sam. He is honest (unusual in this business) and an Orthodox Jew as Sam is but still very successful.

I honestly don't think there is much more of a short postion than he says because Strat is no CMKX or PLNI. Sam doesn't spend a nickel until the buffalo does a dance. So the selling is either what I said before or possibly what you think but it certainly is not management. Joseph hates dilution but was the organizer of the JV parameters and expects that it will reward its members handsomely.

My "big bet" is still on the mangement team and I continue to acquire when I can. Patience is something I have plenty of and I believe it will pay off now as it has in the past for me. Just wish I could buy more at these prices.