The share price is a public vote of no confidence. Yes, it can...

The share price is a public vote of no confidence. Yes, it can be reversed but it will take positive news. The options are:

1) Some substantial "Buy" Appendix 3Ys by PM and his board colleagues. This will say much more than a Norwesterly.

2) Farmout agreements on favourable terms which give a good look-thru valuation of those assets. If EP413 could be commercialised and NWE retains > 10% of the asset I would rate that as a win.

3) Confirmation that Arrowsmith is commercial. The greatest concern I have is that I have asked the company why it made statements in several company presentations in 2012 that it was targeting first production at Arrowsmith in Q3 2014? We all know that forecast was wrong but none of us know what the assumptions were behind that forecast?I want to know the "why" behind those statements, not to condemn PM or the company but to get a feel for the credibility of what they say. They have maintained silence on that topic.

4) Prior to the last CR the average shareholder was led to believe that A2 was commercial. The "feel" of company presentations and articles in "Oil Barrel" etc propelled this propaganda. If Arrowsmith has a bright future the market does not currently feel that way. The company has done a poor PR job in recent times. Someone recently pointed out how generic and ambiguous the AGM presentation was. I think that 98% of shareholders agree with that.

I would love PM to do a Boardroom Radio interview early this year to give us the truth and the whole truth. Hartleys are notorious for valuing penny dreadfuls at $billions so I am glad that the unrisked valuations of NWE of $1.50 are no longer in vogue.

PM has a bigger marketing and PR role to do in Q1 2014 than any other role. I hope that he can rise to the occasion.