and agian....., page-12

If people want to look at the short term well then oh dam we just lost a heap of money. But if you want to look at the medium to long-term nothing has changed with NWE.

The reasons why management are delaying these drills is so that it is cheaper. I would rather them wait and think about the long-term picture and try to keep costs down. That is what we would all do if we ran the company. If management just said we will book the rigs in straight away and it cost us a fortune then everyone would be kicking up a stink. If they take their time and do everything right, then we will all be better off for it.

this has just allowed for a cheap top up point in my opinion. NWE has some great acreage around the world and still is undervalued. Even if we did not have the North Sea and Eats Timor assets, I would still value them at around 7-8 cents. 10% in TP/15 looks to have increadible potential. The us drills will not excite the market, but they will prop up the long-term position of NWE. Areas around Jingemia have a few more prostpects and could provide many more opportunities. I think that 10 cents is increadibly cheap!!