Member Info for belisce6

Performance rights are done once they are approved a GM if it happens.. tgat is a oneoff event..
The 1st and 2nd and 3rd anniversaries are the Vesting Dates when performance is calculated using that Performance rights allocation figure..
It says nowhere that the base level will change each yr so that the tripling is cumulative over those yrs..

If i am shown to be wrong.. then i will duly accept it..

Amnesic.. where do you get 10.8p and 32.4p from ???
It doesnt state that the sp needs to triple every year at all..

The bar is 3.5p for each year or on 1.2p its 3.6p each year..
There is no tripling of that number over consecutive yrs..
How did you come up with that ??

Silly response from you again jiddy..
But that is you.. nothing more.. nothing less..

Jiddy..
You have not responded to the issye of ONLY 3.5p level being the bar for DW into 2019, 2020 and 2021...
Why would i ask DW why he has such a dodgy incentive program..
He will just tell me whatever he wants so that i walk away feeling happy..

The reality is what it is... 3.5p ish level is effectively tge bar for all those yrs..
Yet you all seem to accept that ONLY this level is required for the ceo to take big bonuses.. what would such a level do to your return over that timeframe?
Why is the bar not higher ? Indicating the value of the underlying assets??

Brombarb.. why such a response.. i thought you were a longterm holder in 88e ?? So you are ok if the ceo is only incentivised with the same 3.5p level going thru 2020 and 2021 ??
Is that all you would be expecting based on underlying assets..

Your response is very strange to this... unfortunately..
You are on this board virtually every day behaving like a moderator..
You took over the wiki from people who setup the longterm holders group. They or one of them was outed as being boiler room bandit ??
All seems a tad strange..

For the life of me i do understand why other longterm holders would be happy with such low incentive target levels...

Amnesic.. i can confirm i read and understand the incentive program for DW and my comments are not based on board tittletattle..

Unfortunately you have not stated anything in regards to genuine 88e holders
That obviously doesnt include paid lakkies posting on these BBs.. but actual genuine holders of 88e securities... as to why such a low level of sp should or could be acceptable to them, considering the underlying assets and the farmouts that are supposed to occur..

Instead you insult me...

Mickey, lemajor.. it is a shame that you are ok with 3.5p label to be the baseline for bonuses to DW over 2019, 2020 and 2021..
I hope you guys know what you are doing..

Amnesic.. i donot know where you appeared from all of a sudden so i donot know if you are a genuine shareholder in 88e..

Instead of addressing the fact that the Incentive program incentivizes DW to only do enuff to maintain the underlying sp at 3.5p or so for 60day periods over 2019 and 2020 and 2021..

With no farmouts being concluded means it is definitely open to ongoing serious equity dilutions... hence still hitting reserves and resources but low sp cos 10bill or 15bill shares on issue.

This would not be an issue if DW incentive program was placed in front of genuine shareholders after farmout.. not now..
3.5pence over 2020 and over 2021 for 60day vwap etc..

All genuine holders should be concerned..

George has told me i would take it now..
The underlying assets should give a much better return than ONLY 3.5p ish level.. unless DW does what he is best at.. dilute us to buggery..

No i am not part of a gang to make the sp do anything..

I simply urge all genuine holders of 88e shares to read and understand the incentive document for DW...
If they are happy with him getting CASH bonuses or shares for the sp ONLY being 3.5p for 60days over 2019, then again in 2020 and again in 2021.. then so be it...

I have not stated anything against employee incentives...
I am referring to the murky incentive package for DW...

The timing stinks.. the elements make no sense...
I will be voting NO..
Unfortunately posters like georgr and amnesic have not placed forward one iota of a reason for a genuine hold of 88e to accept 3.5p performance levels for 2020 and 2021

I was referring to icewine acreage..

Without that there will be no reserves nor resources to the levels in the proposed package.. so why put it in there ??
The package will start once it is approved.. if that happens.. but no drilling into icewine package until 2020..

Very simplemm the MAJOR elements of incentive package are keeping sp above a sp level which will effectively be 3.5pence..
Over most of 2019. Over most of 2020. Over most of 2021..

Even if whatever work is completed.. this sp level is way to low for anyone to say that the Incentive package is aligned with Shareholder interests...

I hope that genuine holders get to the point that they understand what is being presented to them..

As a genuine longterm holder i find the package unacceptable cos it is not an incentibe to consistent drive the underlying sp higher..
The sp is the only thing which will provide a return to genuine longtetm holders... not champers and caviar and rubbing shoulders with the BoD ..

I was referring to icewine acreage..

Without that there will be no reserves nor resources to the levels in the proposed package.. so why put it in there ??
The package will start once it is approved.. if that happens.. but no drilling into icewine package until 2020..

Very simplemm the MAJOR elements of incentive package are keeping sp above a sp level which will effectively be 3.5pence..
Over most of 2019. Over most of 2020. Over most of 2021..

Even if whatever work is completed.. this sp level is way to low for anyone to say that the Incentive package is aligned with Shareholder interests...

I hope that genuine holders get to the point that they understand what is being presented to them..

As a genuine longterm holder i find the package unacceptable cos it is not an incentibe to consistent drive the underlying sp higher..
The sp is the only thing which will provide a return to genuine longtetm holders... not champers and caviar and rubbing shoulders with the BoD ..

By voting NO we will Not be jeopardising anything..
The farmout process continues..
DW told punters he would be ok and would continue..
Why wouldnt he? Cos genuine shareholders disagree with the terms of the incentive program..

There is absolutely NOTHING to stop the board presenting another program.
.
Besides.. anyone potentially scaremongering that we may lose DW.. the Ops Manager could one day be a very good replacemennt. He has direct Nth Sope oiler experience over past few decades.. DW has only 88e experience as am oiler...

So i sincerely hope that honest genuine longterm shareholders are not scaremongered into abstaining or wrongly saying yes, when they can clearly see that the potential CASH payments to DW cover such a lowly longerterm sp level meaning longterm shareholders make diddly squat.. in such a scenario..

Further to my previous post..
About reserves and resources unlikely to be met within 3yrs cos there are no committed nor funded programs in place.. but the incentive program would already begin this october (?)..

Consider this.. even if they somehow they manage to get the reserves and resources figures for max payment in CASH or shares..
The sp ONLY had to be higher than 3.5p or so..
Over nxt 3yrs.. meaning they could do it by constant capital raisings..
Hence the lowly sp level target used...

I believe they should deliver the promised farmouts then present Incentive programs..

This proposed incentive package is murky and illtimed..

NO NO NO NO NO

The reserves figures will be met only if longer term flow tests happen.. the only project capable of this is hrz.. considering no funding nor committed workprogram.. to have this done in the 3yrs will be very tight...

Similarly the resources element for 400mmbo 2C to 88e.. will need discovery by drill tied into 3D.. where will 400 come from ?
It will mean 3 definite separate successes over the conventional ground or successful flow test on the hrz.. again.. very tight for this to occur within the 3yr period.. considering No conventional drill until 2020 at earliest..
And possibly same with hrz seeing they only go into farmout process in 2019..
Hence it is more unlikely for these reserve and resource elememts to be successfully obtained.. strangely enuff it is these elements which will make us rich.. and the BoD like DW etc.. but it is only MINOR elements of the proposed incentive package..

The major elrments are based on sp bei g only above 3.5pence level using todays 1.2p starter...(the base will be close enuff to this to use it in the example)..
So DW can receive CASH bonus which can be at whatever level but 6.4mill shares worth if the 3.5p or similar covers 60day etc over most of 2019..
This part aint so bad..

The part that is horrible is..
Only the same level needs to be maintained thru 2020 for DW to get same CASH payments or shares.. then yhe exact same thing is repeated tgru most of 2021..

Does a genuine longterm holder believe that this sp level over the future yrs is really an incentive at all ??
Bearing in mind most of the incentive shares or CASH will cover this sp performance..

A genuine shareholder will only benefit if the sp is much much higher..
Based on this murkiness and the fact the funded and committed work program for icewine is not even known.. and the other elements of the program are loaded with so much risk element that they do not look likely within 3yrs..

I donot see this incentive program in a positive light at all..
NO NO NO NO...

They can always come back with a better on which can look like it is aligned with shareholder returns =much much highet sp level after nxt 2 to 3 yrs..

I sincerely hope that all honest genuine shareholders do not get duped...
Good luck..

I believe that i do know why DW and his board have presented such a ridiculous Performance share or CASH equivalent program..
It is evidently quite clear to those that do their research.

Good luck :-)(

I fail to see where i have been vindictive or unbalanced..
I am extrenely balanced.. the underlying assets are fantastic..
The 3yr performance NEUTRAL at best..

The Performance Shares or potentially uncapped CASH equivalents due to sp being ONLY above 3.5p covering nxt 3 yrs is murky at best.. but actually closer to daylight robbery

Iy is unfortunate that someone was actualky told that options are not goid incentives but this program is... i hope that person works it out.m i imagibe their personal thoughts of DW will change dramatically..
Unfortunate as it is...

George.
You accuse of vindictive or unbalanced view.. but you present no acceotable arguments for such..
Yukon doesnot have a cpr stating anything ? So the market is correct.. you are basing your arguments on imagination of what it could or should or would be.. not reality

Such a murky Performane Share and ptentially uncapped CASH equivalent plan for Dave Wall for simply keeping share price above 3.5oence over next 3 years is luducrous at best...

It is a shame that you resort to your comments..
I only hope that when last nights feelgood factor dies off, you can see reality for what it is...

Lemajor..
The fall in sp is majorly due to BoD..
The underlying assets are of the highest order.. unless the BoD are lying to us..
They are paid to make decisions.. those decisions turn into activities which eventually dictates results and sp movement..

The fact is.. this 88e BoD is no better nor worse than other BoDs.. this Performance Share or CASH equivalent document is murky..

It highlights the company failures.. 3yrs and back to recovery.. sp appreciation ? Hardly...
2P reserves or 2C contingent resources CPR certified.. NOTHING..
prospective resources.. conventional keeps building.. hrz has been downsized after the work..

Rewards should be asked for only after positive performance.. not in current format nor present time...

If genuine shareholders must wait another 3 yrs for possible considerable returns on investment, after already waiting for 3yrs, then why would they reward DW with potential uncapped Cash payments if the sp just sits above 3.5pence area..

Some of you were sild more fibs.. options will provide incentives cos tgey create him into a shareholder... giving him potential uncapped CASH equivalent for only keeping the sp above 3.5pence for the next 3yrs is grotesquely stupid... all he has to do is not much.. 3.5pence will be easy.. look at the assets... his challenge will simply be to get sp to spike up on day of payment and have his boardroom give hik CASH equivalent.. this part should not be in the deal at all..
If it was Shares ONLY then it aligns his interests with shareholders further..
However the OPEN decision to pay in CASH at currently UNKOWN LEVELS is silly..

George.. there is no imagination in my posts.. at all..
The imaginative content is by all those left mesmerised by last nights presentation..
You list projects of 88e.. yes.. they are good..
What is the net result.m after 3 yrs.. we are back to the start in terms of fantastic potential at icewine...
This is not a positive result.. it is NEUTRAL at best...

I know all the projects.. i know how good they are..
After 3yrs.. the sp is 1.2pence.. from the 0.5pence levels 3 yrs or so ago..
Care to explain whether this is adequate for the MD to be asking for extra remuneration in potentially uncapped CASH equivalent..

In fact.. i urge you to use your imagination if you need to.. in order to show that tge performance after 3 yrs actually warrants such rewards for Dave Walk..

WAaussie..
I have nothing against DW.. this performance share or CASH equivalent thing is not good...
The sp should easily be above 3.5p over nxt 3 yrs based on current assets.. they are so good..
But when the payment date comes for this performance scheme, each yr for nxt 3 yrs...
there can be a spike up in sp on that day to any level whatsoever and he could be takinh that in CASH.. then the sp does what it always does.. go down.. and shareholders are left scratching their heads...

The Performance Share document is Murky...
And open to unlimited liability to 88energy...

I donot believr that the other "independant" directors put this forward..

However their " independance" is completely questionable.. when you consider that they provide operational and consultative servuces to the company even though they are supposed to be independant of the compsny...

Besides.. the hrz was stuffed up..
50/50 are odds you almost never see with oilers..
Mikemike wrongly suggested that the risk was high..
NO the risk was possibly the best in the oil sector..
They stuffed it up.. they donot know why but are now waiting for lab and desktip hypotheses to feed back to the market...

Dave Wall has managed to do what he does best.. recovery... he has placed the company back to ground zero.. the potential value is still in the overall assets.. but this has occurred after three yrs of waiting and tonnes of shareholder dilution...

The net effect is that the Result is at best NEUTRAL...
If anyones wants to argue the point.. please look at where the sp is after 3yrs :-((
Its not 100bagger nor even 60p :-(((
No curve being creamed at all..
But back to zero.. effectively..

Does the leader of the company deserve more remuneration now...
NO NO NO...

he could deserve it if the company started creaming the curve of these diversified assets.. when ? Other than winx.. no drilling until 2020.. so why is the Performance document not taken off the table and only given to us in 2020 ?? Or just before that...

The current deal is money for nothing...
Have any of you received so much money for nothing from 88energy ??
I guess not..
We dont have money to drill anything at icewine.. so why would we be giving DW the opprtunity to take cash at whatever level over the nxt 3yrs ???

I sincerely hope that when the feelgood factor from those that attended last nights presentation, subsides.. that you can see sense and that you vote NO.. to more remuneration to Dave Wall.. at this point in time..

For him to be receiving a possibly endless amount of money for simply keeping the sp above 3.5pence is silly...

This level should have been much much higher...