The Geopetrol letter does not constitute a firm commitment. The Geopetrol proposal is non-binding and is not supported by any proof of financial capability. The alleged offer is conditioned on due diligence, approvals not only from the U.S. and Canadian bankruptcy courts but also approvals from the U.S. and Canadian trade creditors and debenture holders, and numerous other legal and regulatory parties. Even this discussion is academic since Geopetrol's offer can only be termed a complete farce. Short selling involves a risk not associated with the purchase of stock including, but not only limited to, unlimited loss and stock borrowing risks.
Additional information is available upon request.