RE: Questions/concerns 987 & other AGM attendees might ask POQ11 Nov 2019 17:32
Poods: I don't know if you've been to a recent AGM. Last year was my first and I was surprised to there were no board members in attendance. When I cornered POQ later I asked him why that was and he said the board members are scattered throughout the world and the travel cost of gathering them would not be justified for such a short non-eventful meeting. - Buckeye - A fine example of Falcon conserving capital. All that occurred at the AGM was an announcement of vote tallies on the reelection of directors and 'other business'. If I remember correctly, after that 5 - 10 minute business meeting, the formal meeting was adjourned and was followed by the corporate presentation and then questions and answers of Philip/Gabor. My point being that there will not likely be any representative of the board in attendance to ask about POQ's 'excessive' compensation - I guess one could ask POQ or Gabor and see what kind of answer is given :^)
I think at this stage of the game you need to give it up on the 'excessive' compensation obsession. We are going into the final innings of Falcon and POQ's compensation, regardless of how one categorizes it, is not going to amount to a hill of beans on the final return to you and other stockholders - Of Course all IMO. I'm more concerned about the assets of the Kyalla, Velkerri wet or the Velkerri B and the final sell price.
Another answer for Buckeye you can cross off the list - Gabor is the geologist that works with Origin to determine well locations and how best to benefit from Origin's carry. Falcon doesn't have much say in the operations/drilling of these wells but they do have input as to where those wells are located etc. As an example, Gabor will be consulted after the Kyalla vertical TD on whether to drill the lateral or not. Gabor was consulted on the last stage 1 well that was cancelled and funds rolled into the stage 2 program. He will be consulted in which shale the stage 3 wells will target and where those wells are best staked. Gabor is still an important member of the Falcon team. I suspect he will be at the AGM to answer questions.
Buckeye - Cenkos and POQ have a very tight relationship. Cenkos is highly respected in the institutional investment players in London - they can open many doors for POQ and speak to Philip's character and leadership. That is how the infamous April raise came off so quickly and efficiently. RBC didn't do Falcon any favors. Their evaluation of Falcon was extremely conservative to a fault - at the time I remember making the comment that they couldn't see past the tip of their nose. I believe RBC was originally employed to help Falcon evaluate/price the Beetaloo for sale - after that 40+ page overly conservative report came out it was very apparent that these were not our boys.
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