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barn06048847
I'm as disgusted as the next man with this salary and i'll be letting UKOG know of my displeasure. But as shareholder's (those of us in here lol - not trolls/shorts etc) it's important to keep a calm head and remember where we are at. We are on the cusp of good things, and will be very undervalued when Horsehill is fully up and running, and reserved based lending arrives to stop this share dilution.
I hope those of you like me, who are down on paper a great deal, can keep the faith and see the bigger picture, regardless of the grossly inflated salary SS has received this year. He needs to put his hand in his pocket and align himself with shareholders, and not just poxy options. But he is a serious oil man and he will create a serious oil company. Progression will be exponential from here IMO.
I agree very much with what you say & also remember what has been achieved really from April 2018 until September 2019 with SS roles in both UKOG & HHDL.
The key is what happens now Mr Sanderson as this is a time for real leadership when rewards have been awarded for the great advances made. It may be a time for some sacrifices in the bad!
You have said that costs are being cut & I hope that that includes non key workers being furlowed to retain the expertise under the government scheme without a cost to the company & any possible government backed help that may be available.
It would also seem prudent for a review of the BOD renumeration for this year in light of the current difficulties & situations as at other UK oil companies.
I seem to remember your encouragements for shareholders saying that the share price & oil price were only important for UKOG at the point of going into production.
Well we have finally made it!
I feel that we are all on the verge of a great success which without sacrifices IMO. could all fall to pieces as if things don't improve we may not need HH, PEDL234, IOW or the old Holmwood licence. There will not be the oil needed in the current environment despite the competitive advantage we have as a onshore producer with a possible production cost as low as $19 with oil prices as low as $6 for some grades of oil & the amount of oil currently in storage around the world.
The key question is are we all in this together?
Is this more than just a job for money?
The ball is in your court for all our futures!
I don’t think he’s that daft.
Maybe SS is going to use his bonus to buy shares in ukog...
As of tomorrow UKOG directors will be back in ‘open season’ and they will be able to buy shares. No more excuses. There is nothing secretive and not reported going on so SS and the others can align themselves with shareholders. This will tell you all you need to know.
2 years too late, unfortunately,
Is he on crack bloody hell that 776k in salary, he need sacking. What the hell.
Its pretty simple if you do not believe he has delivered shareholder value we as shareholders have the power to vote him out. The AGM will surely follow. As to who approved the bonus it must be the Remuneration Committee? Given the current oil price, I wonder if the board is taking a salary cut? We have no idea of what is the current oil being produced is? But here is the scenario with SS salary at £776k per annum - at 200 barrels a day that's US$12 / barrel at 400 barrels a day its US$6 / barrel at 500 barrels a day it's US$5 / barrel. That's only one overhead. The company needs to show us how it is going to get to breakeven in this environment.
Lies
£776k and hasn't aligned with shareholders, disgrace imho
I'm as disgusted as the next man with this salary and i'll be letting UKOG know of my displeasure. But as shareholder's (those of us in here lol - not trolls/shorts etc) it's important to keep a calm head and remember where we are at. We are on the cusp of good things, and will be very undervalued when Horsehill is fully up and running, and reserved based lending arrives to stop this share dilution.
I hope those of you like me, who are down on paper a great deal, can keep the faith and see the bigger picture, regardless of the grossly inflated salary SS has received this year. He needs to put his hand in his pocket and align himself with shareholders, and not just poxy options. But he is a serious oil man and he will create a serious oil company. Progression will be exponential from here IMO.
It looks like Sanderson's has increased his salary at an indecent rate in view of the share price performance! £766,000 a year is unbelievable in view of how the rest of us have suffered due to the devaluation of our investment in the company. It appears that he has no qualms about milking this exorbitant salary when in fact, there should have been a reduction rather than an increase from last year. Have we really borrowed money under dreadful terms to pay about four years salary for this man?