Ann: Appendix 3Z - Adrian Griffin, page-11

Hi Nemesis

I'm most interested in what our new Chairman is getting up to. As he said . . . Given my background and experience in financing greenfield projects that were seen to be innovative and disruptive at the time, I hope to be able share some of the insights gained from these experiences and contribute to the future success of Parkway . . .

If he's been brought in to help arrange finance, then what for? For instance - one of the funding options is for Parkway to own-operate a treatment plant and maybe this is a client's preferred way forward. Quite understandable for first cab off the rank with new tech. My concern would be a fantastic SP catalyst going hand-in-hand with a whopping great dilution.

Hopefully there's enough coming down the pipeline to get folk fired up about exercising options. I don't know how padded PWN likes their financial crashmat to be, but it must be getting close.

Cheers