Ann: 2014 AGM corporate presentation to sharehold, page-9

re: Ann: 2014 AGM corporate presentation to s... Jake, i´m pretty sure that our mgmt and board of directors have not any expertise in oil patch anywhere, not only in WCSB. Their only expertise - if you look at their C.V. - is in M&A ( except Straub). And their knowledges/abilitis in this branch you can clearly evaluate by this: more than 1 year they have have been searching for opportunistic aquisition, but in the meantime they didn´t noticed that Canadian market recovered from the bottom and market valuation of many distressed oilcos is is NOW at least 30-50/% higher than in the fall of 2013. Adding common premium 20-30% in M&A deals and our great expirienced m.rons will make a deal 50-80% more expansive than six months earlier. Shortly loosers for 4MM/ year, great deal!