Ann: Amendment to Binding Term Sheet with Armour Energy, page-9

Hi Dalque

A skilled board will get a dollar or more.
AJQ is spectacularly undervalued thus AEPs serious outlay.
Westside is playing a long game. Why would they increase their bid before the AEP arrangement is
completed.

Sandon and more importantly their affiliate MVT haven't gone away. I have MVT on the register of several coys I own. Ron Brierley has the patience of Job.

Psychopathic is a severe diagnosis. The board have due cause to be paranoid about Westside and MVT who are bottom feeders.

DGR has performed better than most juniors. Also it has paid a dividend.
We cant blame the directors for Macro resource trends.

Waiken