On 11 April 2014, the following Executive Directors were granted deferred share awards in the form of nil cost options over 963,906 shares under the LTIP. Subject to the continued employment of the Executive Directors, these deferred share awards will vest on 1 January 2017 and will remain exercisable until 10 April 2024.
You may be correct that they awarded themselves options after the duster at Nimrod. I don't recall, and beimg frank I don't much care. Nimrod was a wildcat exploration well (as was Tapir). Other than not finding oil they did a great job. I don't underestimate the impact of not making a discovery ( I too suffered) but too many people on this board have no idea what is really invoved in opening up a new basin.
In the doldrums of 2 + years ago my holding was deep underwater. I am now ahead. If I had been braver and averaged down at 2p, or 7p I would be laughing now. As it stands a 5 bagger from here sets me up for a very comfy retirement. 10X would be a dream come true.
If Char leaders achive 5 or 10X from here I don't care how much they profit. They will have my eternal gratitude.
I am pretty sure we will farm-down our interest. But i'd would not expect us to cede operatorship. So it's most likely going to be a smaller player. My money is on SQZ or GENL. Or perhaps CEPSA, but not TE, BP, ENI, Repsol etc....
Bob, You say "i am reaching a pivitol moment where if things don't happen soon, the risks of staying on go up exponentially".
"Soon" - Char have stated they expect to take FID this year. I think that's probably ambitious and would be happy if they do so in this tax year. But I still consider that "soon", in the context of most O&G development projects. Just look at Jackdaw or Etinde.
Prerequsites are being ticked off nicely. The CPR arrived a bit earlier than my revised estimate. Soc Gen are leading the funding. We have FEED underway with SA and have MOU for offtake. Lots of balls in the air but I don't see significant risk in any of that.
Not sure why you see an exponential rise in risk ? Sure the world is not very stable at the moment but it is not in Morocco's interest to be anything other than supportive.
GLA. In my view patience will pay off - but I continue to trade a little while I wait. There are constant opportunites to make close to 10% in a matter of weeks if not days, with spare funds. Hence me being v overweight CHAR temporarily
If you've held "over the last 13 years" what's a few months more until FID.
The audited resource volumes are great. FEED is underway. MOU in place for GSA. I see no risk that Soc Gen fail to deliver on debt finance. I expect a partner to farm-in. The exploration upside is very exciting...
So the SP is lower than you would expect. Buy more - i did.