Ann: Response to Media Coverage - Non Binding Indicative Proposal, page-173

Hi,

I used NWE only to show, that drilling success is not guaranteed and that company-value depends on that. L7/Condor e.g. are maybe great prospects, but could also turn out as complete desasters.

Getting now 26-30c ex. Mongolia is far away from "stolen value", compared to all the work (&time) that has to be done to generate value out of those prospects.

Finally, I was an NWE shareholder with 7.5 Mio shares from 0,008 - 0,042 ... I sold to early but only 1 successful drill (at that time) was not enough for me "to dream" about a higher market cap. What would have happened to NWEs share price after the second drill without MINs offer ... -35% (best case) ...

cheers