Ann: Half Yearly Report and Accounts, page-30

As a shareholder I don't feel I have been left in the dark. Everything I need to know is on the website. Every now and then I ring PM to get a feel for things. The best thing about NWE is the assets it holds ( forget Puffin by the way...that is long gone ). But their assets in the WA Basin are getting stronger by the day due to three significant forthcoming events. Firstly; West Australia is running short on medium term gas.Second AWE is having a field day proving up both conventional and unconventional gas ( and a bit of oil ) in WA. Thirdly AWE, NWE and Bharat are committed to an Arrowsmith 3 drill, which if successful will see NWE surge and AWE take a step forward in setting up a Gas Hub to serve WA gas.

And NWE not only have a joint deal with AWE in EP413 ( Arrowsmith 3 ) but the also have a permit adjacent to very highly rated Waitsia field that AWE are very excited about. Plus, despite their miniscule budgets they have managed to add the PSA permits and retain a UK exposure.

I would not like to guess where NWE's sp will end up but provided Arrowsmith 3 gets the go ahead then a significant rerating awaits them. Please DYOR. I am heavily down the dunny on this one but I still have faith. My best advice would be to await confirmation of a good Arrowsmith 3 Seismic and then invest. But please DYOR.