mpo merger with arn, page-2

Wiggling, if you are one of our big owners and you have that sort of influence then I am fully supportive of the proposal you have put forward. The management of this company is sadly lacking. We have been poor at an operational and strategic level as evidenced by our poor production rates compared to neighbours and a second strategic review in three years.

We still have plentiful cash, a huge asset in Canada, unproven wolfcamp acreage.

We would be a very good buy with capable management. If a joint venture or merger does take place I will change my sentiment to hold/buy dependent on our ability to negotiate.