Comprehend (autocorrect I assume).Why? - The MIN offer gives an...

Comprehend (autocorrect I assume).
Why? - The MIN offer gives an indication of what MIN thinks NWE is worth.
Other people may disagree.
I think about 99.9% of the people who have not accepted the offer believe NWE is worth more than MIN are offering, or they would have taken the offer.

SP = MC / SOI.
A successful drill significantly reduces risk about the resource that is there.
It will also add to the value of available gas, and possibly oil.
If the drill is as successful as everyone believes then the value of NWE's share of the gas and possibly oil will exceed our current MC.
Regardless of MIN, our price will go up.
Our value will be based on our share of the resource and not MIN/1300.
This will also effectively kill the MIN offer.

Any increase on the value of the tenements has a much greater effect on NWE than MIN.
Many times greater.
Again - add 1 or 2 hundred million to the MC on NWE and MIN and you can see the difference.