Hi luker - The continued buying of around a million more common shares of Canadian Superior Energy by Clayton Riddell a week ago is to me good news indeed. He appears to buy a majority of shares in order to gain control of the companies that he is invested in. I posted the following on this board a number of months ago which shows this:

The following article is very interesting because to me as it reveals Clay Riddell's "modus operendi" or the way that Clay Riddell operates his current business ventures.

http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=fc5f6e49-ce78-4434-8624-83d07c941c3d

The article states:

"The family also owns a good chunk of each company. And that's one of the reasons why they are not without some controversy.

"They are a public company in name only because they control all the voting shares," said one industry insider.

It's not unlike the criticism levelled at companies that persist in having dual class shares; these are often perceived as being publicly funded, yet private entities.

While Riddell bristles at that criticism, saying that he runs his business like a proprietor and that because he has a 50 per cent interest, his interests are aligned with the other half of the shareholder base, even if they can't influence the direction of the company.

"If you own the company, you get to call the shots . . . we have a board and I don't cheat the other shareholders," he says emphatically, calling the voting and non-voting structure "smoke and mirrors."

This quote shows that Clay Riddell controls the companies that he has investments in, so in this light I think that we are in good hands if his substantial holding in Canadian Superior Energy pans out the way I think it will in the future.

Best Wishes; Scott