Canada Superior Energy Inc. (AMEX: SNG) is facing a somewhat heated battle with one of its largest shareholders. A huge Caribbean natural gas find has Palo Alto Investors seeking to help the company finance its Block 5(C) gas find. However, the company has already agreed to sell a share in the find to raise cash to support itself.

The natural gas find could contain as much as four trillion cubic feet of natural gas, which would amount to roughly one-tenth of Alberta’s gas reserves. However, the company fell into bankruptcy protection after it ran out of Monday, which led to Canadian Western Bank to call on its $45 million loan to the company a month ago.

Canadian Superior subsequently announced plans to sell a 25% shares of its 45% stake in the gas find to cover the costs. However, Palo Alto wants the company to consider other alternatives as it sees the current transaction a “fire sale” that would not achieve an adequate value for the property. The hedge fund also offered $60 million of financing at a 15% interest rate.

What was Canadian Superior’s response? Here’s what they sent (revealed in a Schedule 13D filing with the SEC):

Mr. Andersson-please quit continuing screwing us around! In case you do not know it we and industry are experiencing the worst economic times in modern history. Your actions do nothing positive for the Company and essentially amount to grandstanding.The SNG Board has unanimously, with extensive legal advise ,chosen a monitization program for the benefit of the Company and shareholders.We are represented by legal council and you and your lawyers, if you are professional ,should direct your concerns to our lawyers.P.S.You will have full opportunity at the SNG annual meeting to express your concerns that has now been called.