diff --git a/lib/Compilation.js b/lib/Compilation.js
index 97b57f2c4..481c87aa3 100644
--- a/lib/Compilation.js
+++ b/lib/Compilation.js
@@ -9,6 +9,7 @@ var Parser = require("./Parser");
 var Dependency = require("./Dependency");
 var EntryModuleNotFoundError = require("./EntryModuleNotFoundError");
 var ModuleNotFoundError = require("./ModuleNotFoundError");
+var CriticalDependenciesWarning = require("./CriticalDependenciesWarning");
 var Module = require("./Module");
 var ArrayMap = require("./ArrayMap");
 var Chunk = require("./Chunk");
@@ -20,10 +21,9 @@ function Compilation(compiler) {
 	this.mainTemplate = compiler.mainTemplate;
 	this.chunkTemplate = compiler.chunkTemplate;
 	this.moduleTemplate = compiler.moduleTemplate;
-	this.options = compiler.options;
 	this.resolvers = compiler.resolvers;
 	this.inputFileSystem = compiler.inputFileSystem;
-	var options = compiler.options;
+	var options = this.options = compiler.options;
 	this.outputOptions = options && options.output;
 	this.bail = options && options.bail;
 	this.entries = [];
@@ -116,6 +116,11 @@ Compilation.prototype.processModuleDependencies = function(module, callback) {
 	}
 	async.forEach(factories, function(item, callback) {
 		var dependencies = item[1];
+		var criticalDependencies = dependencies.filter(function(d) { return !!d.critical });
+		if(criticalDependencies.length > 0) {
+			this.warnings.push(new CriticalDependenciesWarning(module, criticalDependencies));
+		}
+
 		var errorAndCallback = function errorAndCallback(err) {
 			err.dependencies = dependencies;
 			err.origin = module;
@@ -132,13 +137,13 @@ Compilation.prototype.processModuleDependencies = function(module, callback) {
 		var factory = item[0];
 		factory.create(module.context, dependencies[0], function(err, dependantModule) {
 			function isOptional() {
-				return dependencies.filter(function(d) { return !d.optional }).length > 0;
+				return dependencies.filter(function(d) { return !d.optional }).length == 0;
 			}
 			function errorOrWarningAndCallback(err) {
 				if(isOptional())
-					return errorAndCallback(err);
-				else
 					return warningAndCallback(err);
+				else
+					return errorAndCallback(err);
 			}
 			if(err) return errorOrWarningAndCallback(new ModuleNotFoundError(module, err));
 			if(!dependantModule) return callback();
diff --git a/lib/CriticalDependenciesWarning.js b/lib/CriticalDependenciesWarning.js
new file mode 100644
index 000000000..395057438
--- /dev/null
+++ b/lib/CriticalDependenciesWarning.js
@@ -0,0 +1,15 @@
+/*
+	MIT License http://www.opensource.org/licenses/mit-license.php
+	Author Tobias Koppers @sokra
+*/
+function CriticalDependenciesWarning(module, dependencies) {
+	Error.call(this);
+	Error.captureStackTrace(this, CriticalDependenciesWarning);
+	this.name = "CriticalDependenciesWarning";
+	this.message = "Critical dependencies.";
+	this.dependencies = dependencies;
+	this.origin = this.module = module;
+}
+module.exports = CriticalDependenciesWarning;
+
+CriticalDependenciesWarning.prototype = Object.create(Error.prototype);
diff --git a/lib/dependencies/AMDRequireDependenciesBlockParserPlugin.js b/lib/dependencies/AMDRequireDependenciesBlockParserPlugin.js
index cff89aa84..ba6cb1edd 100644
--- a/lib/dependencies/AMDRequireDependenciesBlockParserPlugin.js
+++ b/lib/dependencies/AMDRequireDependenciesBlockParserPlugin.js
@@ -111,7 +111,7 @@ module.exports = AbstractPlugin.create({
 		}
 	},
 	"call require:amd:context": function(expr, param) {
-		var dep = ContextDependencyHelpers.create(AMDRequireContextDependency, param.range, param);
+		var dep = ContextDependencyHelpers.create(AMDRequireContextDependency, param.range, param, expr);
 		if(!dep) return;
 		dep.loc = expr.loc;
 		dep.optional = !!this.scope.inTry;
diff --git a/lib/dependencies/CommonJsRequireDependencyParserPlugin.js b/lib/dependencies/CommonJsRequireDependencyParserPlugin.js
index a093479b1..c5a46f6f0 100644
--- a/lib/dependencies/CommonJsRequireDependencyParserPlugin.js
+++ b/lib/dependencies/CommonJsRequireDependencyParserPlugin.js
@@ -50,7 +50,7 @@ module.exports = AbstractPlugin.create({
 		}
 	},
 	"call require:commonjs:context": function(expr, param) {
-		var dep = ContextDependencyHelpers.create(CommonJsRequireContextDependency, expr.range, param);
+		var dep = ContextDependencyHelpers.create(CommonJsRequireContextDependency, expr.range, param, expr);
 		if(!dep) return;
 		dep.loc = expr.loc;
 		dep.optional = !!this.scope.inTry;
diff --git a/lib/dependencies/ContextDependencyHelpers.js b/lib/dependencies/ContextDependencyHelpers.js
index ab3f66939..74f9fb77d 100644
--- a/lib/dependencies/ContextDependencyHelpers.js
+++ b/lib/dependencies/ContextDependencyHelpers.js
@@ -4,7 +4,7 @@
 */
 var ContextDependencyHelpers = exports;
 
-ContextDependencyHelpers.create = function(Dep, range, param) {
+ContextDependencyHelpers.create = function(Dep, range, param, expr) {
 	if(param.isWrapped() && param.prefix.isString()) {
 		var prefix = param.prefix.string;
 		var postfix = param.postfix.isString() ? param.postfix.string : "";
@@ -21,9 +21,13 @@ ContextDependencyHelpers.create = function(Dep, range, param) {
 			".*" +
 			postfix.replace(/[\-\[\]\/\{\}\(\)\*\+\?\.\\\^\$\|]/g, "\\$&") + "$");
 		var dep = new Dep(context, true, regExp, range, valueRange);
+		dep.loc = expr.loc;
 		dep.prepend = prefix;
 		return dep;
 	} else {
-		return new Dep(".", true, /^\.\/.*$/, range, param.range);
+		var dep = new Dep(".", true, /^\.\/.*$/, range, param.range);
+		dep.loc = expr.loc;
+		dep.critical = true;
+		return dep;
 	}
 };