Agree BarryGeoff has lots of skin in the game. Always liked that...

Agree Barry

Geoff has lots of skin in the game. Always liked that about OXX. Nobody can accuse him of being in it for the fees or the biscuits.
Agree totally about some of these admin costs. In lots of cases they are an outrage IMHO.
I have been highly critical of CUE in the past. Allow me to digress. Geoff was once a Director of CUE. And OXX held 43m CUE shares that he distributed as you know. I still hold some. After the "Good to be Great" fiasco they fired that highly paid CEO (they had to pay him soooo much because he was soooo good and we were luckly to have him). He went with a golden handshake. Recently they hired a new CEO again on what looks like a pretty high salary to me. To be fair he is still relatively new so I can't be too critical of him. In the same time they have been through I think, three 'top', highly paid exploration managers.
However in recent years CUE has done bugger all except manage to loose 75% of it's sharemarket value. They only operate one block WA 359-P, which I think I am correct in saying, that they only operate because everyone else has dropped the bock, so 'wooopdy doo'. Yes they have a cash balance because of historical interests in blocks that now have producing wells that predate recent highly paid CEO's and most of the current bloated board. Yes, they had to increase the size of the board to improve the 'govenance'. Spare me! They only have this cash balance because of interests that go back to Geoff's era. It has been asked before and not by me 'what do they do all day'.

CUE's 'admin' costs for the Qtr are 2.286m.

Compare OXX's Qtrly with all that they have 'on the go' and Cue's. In my opinion they should hang their heads in shame. I am not criticizing CUE's lack of success in recent times but I do believe that CUE's 'admin' costs have been disproportionate for a company of it's size and interests.

Ironiclly, one of the things that burst CUE's bubble (and showed that the 'emperor has no clothes') was that after the distribution of CUE shares, Geoff immediately began selling his own shares from the distribution, all the way from over 30c to about 15 I believe. How clever was he!

I have posted before that I am not impressed with some of these Boards of Directors/CEO's, seemingly sitting around all day, eating the biscuits and 'blowing smoke up each others ar@es'.

Give me the OXX type of company any day. Geoff may be accused of being an autocrat but I like that.
Who knows how things will turn out with OXX, but Geoff puts his own b@lls on the line and that's good enough for me. As I say, he is not in it for the fees.

Ahh, excuse me just a little Wednesday rave after a couple of beers. And yes I do 'smart' about CUE.