Message to the board

Please write to them so they understand shareholders are vigilant and won't tolerate a rerun of the past! Here's my message below.

Wiggling

Please direct this to David Lamm and the board of directors. I have been a very long term shareholder in NGE with a large share holding.

Hiring David Lamm as executive chairman does not seem like a bad move. However, I am dismayed and frankly outraged to see a salary of 240k.

Do you think I voted to oust the former team to see yet another team bleed the company's assets? For a company with a market cap this small, that compensation is ridiculous.

Add to that a decimated world wide energy sector with many highly talented successful experienced executives looking for work, and I am beyond irritation.

So far the new team has done all the obvious things, in terms of cost control, that needed to be done to remediate the damage caused by the prior team. That's a good thing but nothing exceptional. There is no grounds for extravagant salaries and compensation.

I want to see an immediate reduction in compensation to something reasonable like 150k. The remaining saved cash can be used to build shareholder value by buying back shares.

When management actually builds some real shareholder value then we can talk about higher compensation.

I hope this comes across loud and clear. I am sick and tired of boards of directors failing to protect shareholders, failing to pay real competitive salaries to management. This action is already a bad sign for this board.

If necessary, I will run for the board for no compensation (via skype participation, for example) to look out for the interests of common stock shareholders.

I look forward to either an email reply or a phone call, or skype discussion of these issues.

Best Wishes,
XXX