Ann: Response to Media Coverage - Non Binding Indicative Proposal, page-121

the TPD story is a hell of a lot different from the WGO story, particularly once we got to the pointy end.

WGO had Beach, Hancock, and Strike all competing for it, with real offers from all three at different times!

I, unfortunately, can't see any offers on the table for TPD, can you? The share price is virtually stagnant, it won't even run to 20c, which was the 0.4578 offer?

Ok, so TPD and WGO were both non-operator holders in the PB but that is where any comparison ends. WGO's 50% interest in West Erregulla represents a massive resource compared to TPD's 45% of Walyering....and TPD's other projects (Condor and L7) have long lead times ahead of them to development.

HC