Connacher Oil and Gas

Marlboro:

Without question Gusella likely owns more shares than anyone here. But, principally they are all shares issued under the ESOP at a steeply discounted cost to Gusella. And the differential between the ESOP price and market price is considerable. Thus, all CLL common holders have shares that are worth less in order to subsidize all issued ESOP shares. Therefore, you are worth less so that Gusella can be worth more. Options should only be awarded for increasing individual shareholder value year over year. Not work that does not contribute to individual shareholder value. Otherwise, we reward Management and the BOD for individual shareholder value diminishment. In this case value diminishment of about 60%.

Brian