ScottyK:Orca- Yes you can fix it. I just repaired a hole in my 7mil one piece, which I'm going to use until it falls off of me
You need to get some wetsuit cement, and some strips of patch cloth. I paid less than $10 for the cement, and my LDS guy gave me enough cloth to do the repair at no charge.
I have about 35 dives logged since the repair and it's still holding strong. Hope this helps you out some........Scott
BTW, Aquaseal does a pretty good job as a cement.