Likeother posters, prior to MIN's unsolicited take offer of NWE,...

Likeother posters, prior to MIN's unsolicited take offer of NWE, I watched with interestthe unfolding saga with the WGO takeover, initially contested between STX andBeach and now STX and Hancock Energy. During the various iterations, the WGO Board received considerablecomment/ criticism/flak on Hot Copper about their competence levels, potential self-interest ahead shareholders and various other items. Just over a week afterBeachentered the WGO bidding contest, WGO held their 2022 AGM. At this WGO AGM, the WGO Directors took the opportunity to showcasethe high-grade exploration target in EP349 (Erregulla Deep) and update shareholders on EPA-0127. Below the key exploration upside slides (with OldGeo adds) provided by WGO Directors shortly after bidding commenced for WGO. You have to give the WGO Directors some credit for updating shareholders, during the bidding tussle, on potential exploration upside in their permits.



Key question to the NWE Board.Since MIN’s unsolicited take offer of NWE,why(unlike what the WGO Board did),has the NWEBoard chosen not to showcase tothe high-grade exploration potential in the NWE permits in an updated announcementto NWE shareholders? In my view, MIN’s offer puts zerovalue on what I believe to be a far superior NWE exploration portfolio than that ofWGO’s (apologies to WGO holders, just my view).So, intheabsenceof our NWE Boardshowcasing their updated view of NWE’s exploration potential, below is some useful history that mayhelp shareholders understand NWE exploration upside.





Kind regards OldGeo