Member Info for highlander1970

They are starting to line up at the trough again as though they deserve it for doing absolutely nothing

"The 'R' factor in this country is now irreverent. It's about hospitalizations and how effective the vaccine is. The oil price is not just about this country anyway. The Chinese are burning oil like there is no tomorrow. There is also no need to be so rude."

Lol

And never qualified

that they waited for the freebie shares to be dished out before releasing a positive outlook for once

They are all in it together

More unqualified shares being dished out to the undeserving thieves from the board room

At our expense

AGAIN

The conditions laid out in the document were never met

"The minimum return of 8% p.a. has to be maintained over the VCP period or earned nil cost
options that have not vested will lapse:
* where the 8% return has been achieved for the first 3 plan years of the VCP performance
period 50% of the cumulative balance will vest at the end of plan year 3. If the return has not
been achieved no nil cost options will vest at this point but they will not lapse;
* where the 8% return has been achieved for the first 4 plan years of the VCP performance
period 50% of the cumulative balance will vest at the end of plan year 4. If the return has not
been achieved no nil cost options will vest at this point but they will not lapse; and
* where the 8% return is not achieved over the full 5 year VCP performance period all
unvested nil cost options will lapse. It should be noted that the 50% of the cumulative
balance vesting at the end of plan year 3 and/or plan year 4 in the circumstances set out
above would not lapse."

Ferrier should not be receiving these

Look at the graph, the above conditions were never met

"The CAGR is tested at each vesting date"

Yes

and it failed on several occasion which is why the VCP was binned

But these thieves in the board room are sticking their hands in the company coffers and stuffing their pockets regardless

from the VCP document

"The principle of the VCP is that participants share in a ‘‘Performance Pot’’ equivalent to 10% of the
increase in value of the Company in excess of a minimum annual rate of return to Shareholders.
Starting from a base market capitalisation of US$300m, total returns to Shareholders must exceed
a specified annual growth rate of not less than 8% (’’the hurdle’’) before participants in the VCP
receive any benefit."

ANNAUL growth rate of NOT LESS THAN 8%

This was NOT achieved

And whilst we're at it, at what point did the thieving lying piece of crap Ferrier EVER hold 300% of his annual salary in shares bought by him as was a proviso in the same document?

Never is the answer to that

It was 8% YOY
In the first year the value fell
It was not achieved

So the VCP failed, no value has been brought to the shareholder and yet that thieving git Ferrier STILL lines his pocket at our expense

LOL,
talk about mixed messages

"The receipt of something already expected isn't a particularly value creating event"

So money building in the account is not a value creating event but spending said money destroys the value of the company

No wonder the share price is 1.6p

here's how the bod intend to never bother asking the KRG for the money owed

"The value of licence, rental and security fees has been accrued and is not expected to be paid, but rather offset against revenue due from the KRG related to pre-October 2017 oil sales, which have not yet been recognised in the financial statements."

so by your fackin obvious statements, the company value should be rising every time there is a payment...

but it doesn't

but yet you expect the value to fall circa 14% to reflect the monies leaving the accounts.

It will probably fall more than that from this point to reflect the sheer stupidity and incompetence of so called executives that infest the boardroom of this company.
If they spent more time running the company instead of dipping their hands constantly in the till then this company would not be where it is now.

I see the infestation in the GKP board room are back at the trough again even though they have achieved NOTHING!

"Good job we have a massive onshore field with lifting costs of about $2.50 a barrel....."

$35 and below results in losses for GKP so this fabled $2.50 figure is utter tosh

Ghawars production water cut is over 80%

"This represents a good opportunity for the region to renegotiate and balance some of the contracts concluded during the financial distress in the region"

I bet that those negotiations are not in IOC's favour!

Oil and gas law is key to the region moving forward and the industry reaching some sort of normalcy.

"Maybe they have stock through other means but not, as of yet, via the VCP"

Not correct

JF over-rode the VCP and awarded shares anyway.

The buyback was carried out as the BoD had full intention of awarding themselves the shares by whatever means they were plotting. That is why it took so long for the shares to be cancelled.
Nothing to do with shareholder returns or SP support.

There needs to be a rout of the self serving infestation in the board room of GKP and some real business people put in place instead of the greedy cardboard cut-outs of "executives" that are there at the moment.