Ann: Change in substantial holding from MIN, page-112

dont be selling yourself short mate.

Look at past posts detailing potential value.

For calculating indicative, prospective, value ranges...the 30% of gas price number for recoverable resource is a good rule of thumb. That is a "I'm selling you resources in the ground" number. It is not a "I'm selling you an operating gas field" number.

30% of current gas price of $6/GJ is $2/GJ. If gas price goes up..as it is forecast to do...then the $2/GJ goes up, because we're looking at 30% of a bigger number.

Using the company's resource numbers means we could have anywhere from 500BCF to 800 BCF NWE share..in Lockyer ALONE

Multiply that by $2/GJ or $2 million per BCF and theres a prospective number for you. Lockyer only. Does not include oil in Wagina, does not include Lead E, and the rest of them.

If you look at the notices min has issued re issue of new shares...they nominate a price per share...thats the "value" for the flippers to use to work out their CGT liability...i cant see this getting to 80%...the flipper's toilets will be bricked up as each day passes and the 80% is looking further and further away.