Ann: Notice of Annual General Meeting/Proxy Form, page-2

This is certainly not directed just at NOV, but the steady stream of shares and options being issued (on very favourable terms) to Directors / office holders of small cap stocks at this time of the year still amazes & annoys me.

I am all for options being issued, but issuing them with a strike price of effectively todays price (and with a 4 year exercise period) hardly seems right?

I get the whole "trying to retain key staff" & using these shares / options to retain key staff - but at least issue them at terms that will also benefit all the other shareholders?

If the NOV SP is still at 18 cents in 4 years time, then the Directors may have done very well - but we certainly won't have.

Have received 3 or 4 AGM notices in the past few days, and all with these "significant share and option issue" resolutions within them - so maybe I am just getting a bit jaded reading them.

Hoping that we get a nice revenue increase (with costs under control) in the upcoming 4C - so that the SP can finally start to move.

The issuing of the RADI soon would also be most welcomed