Incentive options

the AGM date and resolutions are out and one in particular gets me going apart from many others.

to quote - "The Company considers that the previously granted options are no longer satisfactory incentives for Mr Hill and consequently the company proposes to cancel the options and grant replacement options"

does not give Mr Hill satisfactory incentive - well for mine - piss off then!!!!!!!!!!!!!!!!!!!!!!!!!!!!

incentive options - well they were there to give Mr hill incentive to get new projects, a JV partner and move the Co forward - GBP is now 5.5c - No JV, no new projects and no drilling on horizon.

So the previous options did not work for Mr Hill and they sure did not work for the Company

So Co to cancel and re issue new ones - what has changed then and how might these new options give Mr Hill renewed incentives.

how bloody obvious and ridiculous does it have to get and how these type of arrangements are so obvious for what they are and how they treat existing shareholders as DHs

No doubt at the AGM once again GBP will tell us they have trawled through numerous projects BUT none satisfy the stringent criteria that GBP holds to so well. same as last AGM

never mind that Cos like PVD have got a JV in Madagascar - with about the same $$ in bank and in africa and prepared to spend $14m on seismic - to get data, to then get JV and money back from new partner to drill a hole ( yet to happen but that is what they propose and will likely execute in next 12months.

GBP will absolutely in November 2015 be telling us the same story - but maybe they need more incentive -

YES THEY DO - PUT SOME OF THEIR OWN HARD EARNED CASH ON THE BLOCK - that is the definition of incentive - not continual freebies!!!!!.