Rebels:

In answer to your question regarding my negativity:

1. I understand that since last October things have been frustrating and down right dismal.

2. We have no way of knowing how the current economic situation is going to resolve itself. Though the speculation is we are headed for significant inflation, it is still possible that the economic future could also dump us into a deflationary depression. Such would be disastrous for Connacher.

3. Specific to Connacher. I am running out of patience with management which is somewhat less than forthcoming in their communications. I do not appreciate communications which seem to be less than forthcoming and in fact, are actually obtuse in honest and apparent investor communications.

4. We are now so significantly diluted for what is a for the next four years a 20,000 BBL/Day operation, that I fail to see how the SP can make any significant progress. Ergo, stymied.

5. The ongoing, perpetual dilutions are going to have significant impact on the structure of ownership interest in Connacher as under the employee option program, the "insider"shares as they are exempt from dilution, will ultimately take over control of the Corporation. Thus, on any issue, only "insider" opinion will have meaingful impact. On an exponential basis the common shareholders are becoming less and less relevent.

6. Now, turnabout being fair play, please avail yourself of the opportunity to tell me how and why, I am spefically wrong?

Brian