Brendan Brown | 2016 $| 2017 $ Executive Pay| 308,399| 209,058...

Brendan Brown

	Column 1	Column 2	Column 3
0		2016 ​ $​	2017 ​ $​
1	Executive Pay	308,399​	209,058​

Mr Brown was appointed as managing director on 28 May 2009 and is responsible for the day to day management of IPB Petroleum and implementing the Company’s stated strategy of achieving superior returns for shareholders, through successful exploration, or acquisition and or appraisal, and if successful development and production from oil and gas assets.

Mr Brown is a substantial shareholder of IPB Petroleum holding 26,993,400 shares or 16.84% and along with the other executive director Philip Smith controls approximately 34% of the Company. I believe the executive directors exert significant control both a board level and ownership of the Company which is not in the best interests of shareholders.

IPB Petroleum has cash assets at 31 Decmber 2017 of $691,745 ].

Based on cash reserves and the Company’s limited operational activities, Mr Brown’s current base remuneration of $1,675 per day is unreasonable and uncommercial