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[cliffvb]

CHAR-Sorry to burst your bubble, but the Russians that are now running CHAR wouldn't have to do anything illegal to get those reserve numbers reduced. Calculating reserves is done by petroleum engineers, but there are many subjective decisions made in arriving at the numbers. After all, no one can actually see all the oil that is hidden underneath the ground.

Take a look at MILL.OB, a domestic OG company that was just mentioned on this board yesterday. They hired a new firm to calculate their reserves early this year. The PV10 value of those reserves consequently dropped from $33 mil in 04 to $5.04 mil in 05 as many of their reserves were dropped from proven to probable or possible or just disappeared altogether. That is extreme but substantial reserve adjustments can and obviously do happen.

Good luck with your CHAR, I was an early bull there and just decided it was a good time to get out when the Russians arrived at their door.