Ann: Shareholder Update, page-14

Morning all,

Just got off the phone with Justin, who kindly replied to my msg left on company page. Let me start by saying that he sounds very open and honest. As we can all appreciate he was unable to provide any sensitive information but my understanding is this:-

Novo is trying their best to sort out the mess with Luso. Negotiations seems to be the best option at this stage due to the fact that this matter can drag on for years and even then there are options to appeal etc..which will get shareholders no where.

Sweden is a good project but not an excellent one. There is lot of uncertainty about the quality of this project. It can be a massive hit or a massive flop. Should NOVO take this gamble and risk the money we have left. I reckon they will put this on hold for the time being.

so what now??? My understanding is Novo is looking for other projects in different parts of the world. It could be anywhere but given all the cash we have.. we are much better of buying a good project somewhere else rather than spending money in Sweden.

But all I can say is I am going to hold on to my shares and give Justin some time to show his capabilities. I have been with NOVO for few years now..might aswell stick a bit longer..

Sing along SINGHA

DYOR.