Sent today.
For the Urgent Attention of Chairman of the Board
Mr Ernie Myers.
Dear Mr Myers,
I am a long standing shareholder of NWE.
I am writing to request that the board maintain its continual disclosure obligations to the market, as NWE remains a listed entity, and it has certain obligations to minority shareholders.
Given the Lockyer project is NWEs key asset and drilling works are in progress, we require progress reports on the drilling work currently being conducted at Lockyer 2 in order for the market to be fully informed. This includes:
1/ drilling progress. drilled depth, casing and hole construction details - planned V actual.
2/ drilling - budgeted costfor LKR2 and NED-1.
3/ lithologies encountered V expected lithologies.
4/ hydrocarbon shows, oil or gas.
5/ wireline loggingprogramme
6/ coring programme
6/ other indicators such as drilling breaks etc.
At this stage, only one NWE shareholder is in possession of the critical information listed below thus creating asymmetryin information flow. I kindly ask the company provides the above update to market within 48 hrs, failing which, I will be bringing the matter to the attention of ASX and ASIC.
Further to this, I kindly request the company continues to provide the above information on a fortnightly basis.
Also, we require summary of drilling and mudlogging observations and logging while drilling,
Whilst drilling through the Wagina/Dongara section
Whilst drilling through the Kingia and High Cliff section
And - Wireline logging results as they come to hand and are interpreted.
