First, I will start with frustration comment that I was set up at 10am CST and then they changed the time. I then got in the line for calls and was disconnected. Very frustrating.

Anyway, the tone of the call was that while margins were improving, there was no drilling in areas they serve (CLR also owned by HH the driller) and thus they saw in the next year volumes falling and profits simply stable.

During the call they were asked why they had not offered warrants or equity to existing unitholders or renegotiated with their bnaks. The warrnat question was not answered. They stated their banks did not offer to do anything.

My question was an offer to purchase additional units in HLND. I will make this offer via a phone call today since I was not able to do it during the CC.

When asked what happens if the buyout offer is not accepted HLND simply said they would have to evaluate the best way going forward to maximize the value of the company.

Personal comment: IMHO call HLND and tell them you do not want the buyout. HLND will in the next 5 years be what it was only a year ago. Vote your units no. If you already voted yes call and change your vote to NO.

Thanks in advance

ARB