Ann: Investor Presentation - September 2018, page-96

My response from prominent incentive supporters on the LSE who made some out of touch comments in supporting the incentives imo. Are they serious or are just taking the P, reads like the WAGS all got together after another free champers/lunch as it is expensive to hold lunches in London. LMFAO!!!!

1. Have to give incentive due to high work load, travel and many time zones - seriously absolute rubbish, DW well looked after with travel entitlements, he isn't flying cattle class and having a $30 a day food allowance, staying in 2 star accomodation. Also we are drilling in bloody Alaska FFS (hello job description again) and has to constantly fly to London to appease you guys and buy you beers lol... Also only drilling 1 well a year over past 3 yrs is hardly a stretched workload, when most of work is done by consultants etc, seriously what a stupid comment imo.

2. For those sitting on losses, think about what further losses DW has saved us from, also Dave said it's a 50-50 chance so he told us the risk -  What are the losses he has saved us from? Also there's the big problem recommending 50-50 was not responsible imo for IW2, this company has to give realistic risk/reward statements in future. Most of us knew it was only 20%. Even FAR only gives 50% on the huge Sumo well after drilling 11 wells with 11 successes, 100% success rate. We only found 1 from 3.

Can't be bothered answering these below and many more like this which is absolute rubbish and shows how out of touch some of these holders are. Certainly must be high on list in SI cap raises.

Long Term Costs of not having a fully motivated board if not rewarded!
Risk of them throwing in towel because they are not rewarded for going extra mile!
The failure of IW2 was not fault of board! etc etc list was many of out of touch comments IMO.

My biggest #1 issue about all this, is calling a General Meeting than dealing with this at the proper time the AGM. Initially I thought it was the AGM last week but after reading all it's only a GM.
While we all sit around for another 6 months doing jack. Some on this board certainly have thick skin. Plus another waste of funds holding this BS meeting for these 2 resolutions.