cash raising, page-24

D_crome

I was there that night when Peter got asked about the cash situation and i will be honest about today's action.

I am very very suprised and disapointed as anyone else on here and it has taken me all day to get over it, but i sat back and had a look at the bigger picture as i have done over the last 2 years.

If i saw the slightest thing that i dont like in NWE or something changed, i would dump all my shares in a heart beat, but this is why i am still a holder and a believer.

- Peter bought this land for 80k and got BAHARAT to invest over 10 million in it. To raise that money alone, we would of already had billions of shares on issue.

- Peter has always let the shareholders participate in any cash raised.

- Peter and the team have always put there hard earned in this company aswell. They are heavily invested and lost out big time due to the options not coming through.

- They have never asked for free shares or performance shares like 99% of CEO's. Also 1 billion shares on issue is not to bad compared to what we potentially have in the ground.

- The EIA assesed 59 TCF in the North Perth Basin.

- Our core results are up there if not better with some of the best shale gas plays in the USA.

- Arrowsmith 1 flowed 4mcf/d (UN-STIMULATED) and is only 400 meters away.

- 12km's away from pipelines, company's are spending hundreds of millions for infastructure.

- AWE rate this well highly, and let's face it, all they have drilled is duds in the last 3 years. They need this to happen aswell.

- There is 3-4 KM's of potential gas in those shale's.

I remember when i was 20 years old and i got advised to buy a company called Arrow Energy and it was trading around 28c, it was the market darling of Coal seem Gas and got taken over for over for just over 4 dollars.

Have we found the market darling of SHALE GAS, if we are patient and trust the managment team it can happen.

Be patient the gas is still there.