I would be more willing to Tender my shares to NOT if they would amend the deal to include a new FWR. It has either been stated or implied the only thing NOT is interested in is the ROF assets. If they are just going to give the other freewest properties away, like windfall, just let the current FWR share holders keep them.
I for one would prefer to turn down both offers and see the 43-101 as well as more FWR drill results around AT12. Second choice would be to tender my shares to NOT. CLiffs offer is way to low for 50+ years of production.
I own both NOT and FWR if the matters and next week should be interesting.