Canadian Superior Energy (SNG)

[hillzman]

Still have to absorb the 27 million new SNG shares that are being issued per the Challenger acquisition. Not sure how that will play out hold/sell so could present a buying opportunity.
I'm just going to sit tight and wait for the board to find a CEO and provide foreward looking guidance. We already know WC will be a priority, and they do have to spend about CAD 10 million to comply with Canadian flow through requirements. I'm hoping they will be able to get something going on the MG block in T&T, but will have to get around some "line of credit" limitations on non 5c developments outside of Canada, maybe another "partner" in exchange for carried interest? BG has already said they won't be able to get a rig for 5c until 2011, so a bit of breathing room there, and one would hope better ng prices.