AGM 15October, page-9

RESOLUTION 1 – APPROVAL OF PERFORMANCE RIGHTS PLAN. ummmmmm

RESOLUTION 2 – ISSUE OF PERFORMANCE RIGHTS TO MANAGING DIRECTOR UNDER
PLAN. mmmmm not real comfortable with this.

Seems to me the share price component sets the marker at the last 60 days as the base, a low point. Shouldn't be hard to move it north, one would hope. I'd be much happier with a higher marker, how about 200% of the previous high of 8c, Dave.

We have seen very little increase shareholder value in the last year, despite a substantial increase in the resource potential. The resource targets are to low, I'd rather another MC target, say $1bill or farm-out targets before being rewarded. We just identified another +500 mill barrels of conventional oil potential and the market said, "nah don't care".

We are told,

The Performance Rights Plan is a long term incentive scheme aimed at
creating a strong link between employee performance and rewards shareholdervalue creation, with alignment of participants’
deliverables with corporate strategic outcomes that are aimed at value
creation and ultimately increased profitability of the Company.

How about the novel idea of rewarding employees after the shareholders who have supported the company have some value created for them.

I'm hoping for something from this London Presentation that will maintain my interest, I'm starting to look elsewhere.

Hope I'm wrong. Just my Thursday evening musings.

Cheers team