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!!
NSE Price at posting:
11.5¢ Sentiment: None Disclosure: Not Held