Ann: MIN: MinRes extends Norwest Energy NL Offer, page-19

It's interesting to see the significant difference between the price of MIN and NWE x 1300. As at close of play today MIN were $90.03 / 1300 = 6.925c, while NWE closed at 6.4c. Significant because from around about Monday this week, these two numbers drifted apart - my assumption was that the we had decoupled from the MIN SP. But it's almost like MIN are trying to make the lowball offer more enticing. Drag NWE down and push MIN up and the illusion is that its a much better deal to accept the offer. I think they want us to accept the offer and not sell on market, if we are going to cash in? Pure speculation on my behalf, but if I was trying to sell a lemon of a deal, I would try and create the illusion, that the offer is so much better than selling on market. Have I said that I think I'm a cynic before and don't believe in coincidences?

The reality is though, its now the first week of March. The rig is in location at Lockyer2. It shouldn't be long until it spuds - you would think prior to end of this latest extension. We should be seeing some impact on the NWE SP soon IMO.

If you hadn't taken the lowball offer by now, with a dividend, what makes MIN think that us retail shareholders will now accept the smoke and mirror show of exactly the same offer, less the dividend?

It's a no-brainer!

AIMO.