Ann: Transforming New Standard Energy , page-193

Upon closing New
Standard will also make a payment of A$3 million cash spread over 10
months to the
Outback Energy Vendors
,
plus up to 45 million performance shares dependent on
the performance of four wells in 2014
•
The Success Shares
will be 100% at
risk and will only be awarded upon achievement of
performance hurdles based on average Estimated Ultimate Recovery (EUR) over four
wells to be drilled in 2014.
•
The
wells’ performance will be a once off measurement and will be assessed by an
independent reserves certifier approved and appointed by New Standard with the hurdles
tied to the EURs that should provide attractive IRRs for New Standard
.

The four wells a re a given, its the way they roll!!