Index: Statement.cs
===================================================================
--- Statement.cs	(revision 8626)
+++ Statement.cs	(revision 8627)
@@ -94,6 +94,8 @@
 
         protected virtual void BindParameters()
         {
+            char parameterMarker = Parameters.ParameterMarker;
+
             // tokenize the sql
             ArrayList tokenArray = TokenizeSql(ResolvedCommandText);
 
@@ -115,7 +117,7 @@
                     stream = new MySqlStream(Driver.Encoding);
                     continue;
                 }
-                if (token[0] == Parameters.ParameterMarker)
+                if (token[0] == parameterMarker)
                 {
                     if (SerializeParameter(Parameters, stream, token))
                         continue;
@@ -185,48 +187,49 @@
         /// </remarks>
         public ArrayList TokenizeSql(string sql)
         {
-            bool batch = Connection.Settings.AllowBatch & Driver.SupportsBatch;
+            bool batch = Connection.Settings.AllowBatch && Driver.SupportsBatch;
+            char parameterMarker = Connection.ParameterMarker;
             char delim = Char.MinValue;
-            StringBuilder sqlPart = new StringBuilder();
             bool escaped = false;
             ArrayList tokens = new ArrayList();
 
-            sql = sql.TrimStart(';').TrimEnd(';');
+            sql = sql.Trim(';');
+            
+            int startIndex = 0;
             for (int i = 0; i < sql.Length; i++)
             {
                 char c = sql[i];
                 if (escaped)
-                    escaped = !escaped;
+                    escaped = false;
                 else if (c == delim)
                     delim = Char.MinValue;
                 else if (c == ';' && !escaped && delim == Char.MinValue && !batch)
                 {
-                    tokens.Add(sqlPart.ToString());
+                    tokens.Add(sql.Substring(startIndex, i - startIndex));
                     tokens.Add(";");
-                    sqlPart.Remove(0, sqlPart.Length);
+                    startIndex = i + 1;
                     continue;
                 }
-                else if ((c == '\'' || c == '\"' || c == '`') & !escaped & delim == Char.MinValue)
+                else if ((c == '\'' || c == '\"' || c == '`') && !escaped && delim == Char.MinValue)
                     delim = c;
                 else if (c == '\\')
                     escaped = !escaped;
-                else if (c == Connection.ParameterMarker && delim == Char.MinValue && !escaped)
+                else if (c == parameterMarker && delim == Char.MinValue && !escaped)
                 {
-                    tokens.Add(sqlPart.ToString());
-                    sqlPart.Remove(0, sqlPart.Length);
-                }
-                else if (sqlPart.Length > 0 && sqlPart[0] == Connection.ParameterMarker &&
+                    tokens.Add(sql.Substring(startIndex, i - startIndex));
+                    startIndex = i;
+                } else if (i > startIndex && sql[startIndex] == parameterMarker && // sqlPart.Length > 0 && sqlPart[0] == parameterMarker
                          !Char.IsLetterOrDigit(c) && c != '_' && c != '.' && c != '$' &&
-                         ((c != '@' && c != Connection.ParameterMarker) &&
-                          (c != '?' && c != Connection.ParameterMarker)))
+                    ((c != '@' && c != parameterMarker) &&
+                     (c != '?' && c != parameterMarker)))
                 {
-                    tokens.Add(sqlPart.ToString());
-                    sqlPart.Remove(0, sqlPart.Length);
+                    tokens.Add(sql.Substring(startIndex, i - startIndex));
+                    startIndex = i;
                 }
 
-                sqlPart.Append(c);
             }
-            tokens.Add(sqlPart.ToString());
+            
+            tokens.Add(sql.Substring(startIndex, sql.Length - startIndex));
             return tokens;
         }
     }