Thanks for the info PinkElephant. Based on what Keith has said in the past about unloading shares in the market and what he has said in emails here recently, I doubt it is the company. Hemi put out in a press release... Hemi Energy has not sold shares in the public market in 2006. Hemi management has not sold shares out of their account in the public market in 2006. Hemi has so much more going for them now as compared to last year, I can't imagine the company is doing any share unloading.
I believe Keith said in an email too that he wasn't aware of insiders selling either. Granted, I know he doesn't chat with and have a beer each day with all insiders and land owners but I got the impression he believed insiders were longer term holders and not somebody looking to make a quick buck. Maybe somebody did decide to sell? Who knows... but like you said, if so, they'll eventually run out of shares :)