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In my simple maths world:
Hurdle 4
PRA3
4-3/3=1/3 or 33+%
Hurdle 4
PRA 1
4-1/1 = 3 or 300%
unless I am mistaken (and if I am I apologise) if the outlook for the hurdle is limited I would want the PRA to be as low as possible
over and sabbatical started again
wjmflp
You just don't get it do you. This is about the most important issue regarding our BoD currently.
An example:
a. BoD declare PR Issue date today (vwap on the floor for last 60 days)
b. 3 days from now BoD RNS to say we are going to drill on the moon in 65 days time (hopefully sp takes off and VWAP too)
c. 75 days from now we get a duster because they chose the wrong place to drill and price collapses and BoD do nothing for another year (but guess what hurdle VWAP is high as it is ANY 60 day period after PR Issue date)
BoD receive MAXIMUM Performance shares/cash for doing WHAT exactly and the sp is at an all time low
What do you think about the performance contract now??
wjmflp
Its quite simple_:
1. To get the best results the Hurdle price should be high and the PRAP should be low.
2. The hurdle price is calculated AFTER the PR ISSUE date and is the highest (peak) for any 60 day period (Therefore the very best it has been).
3. The PRA Price is calculated before the PR Issue date
So the questions to be asked to ensure clarity before the vote are:
a. A disingenuous cad could always time solid operations to issue good price affecting information after a PR Issue date to ensure hurdle price is high
b. A disingenuous cad could always time risky operations to issue bad price affecting information before a PR Issue date to ensure PRA price is LOW
c. A disingenuous cad could always run a programme to ensure greatest rewards to coincide with PR Issue dates
And before anyone gets uppity, I am not saying our BoD are that type of BoD. Just pointing out that it could be done.
Therefore the only question is:
Will the BoD pre-set all 5 PR Issue dates in advance at the outset and before the vote takes place.
This has the benefit of ensuring we know whether there is 1 PR Issue date (now) or 5 and when they will be.
If the BoD did this I will vote YES
because it targets/focuses value enhancing programme and dates which is a true test of performance and does not leave performance open to circumstantial abuse.
wjmflp
b. should read
A disingenuous cad could always time risky operations to issue bad price affecting information before a PR Issue date to ensure PRA price is LOW
Its quite simple_:
1. To get the best results the Hurdle price should be high and the PRAP should be low.
2. The hurdle price is calculated AFTER the PR ISSUE date and is the highest (peak) for any 60 day period (Therefore the very best it has been).
3. The PRA Price is calculated before the PR Issue date
So the questions to be asked to ensure clarity before the vote are:
a. A disingenuous cad could always time solid operations to issue good price affecting information after a PR Issue date to ensure hurdle price is high
b. A disingenuous cad could always time risky operations to issue bad price affecting information before a PR Issue date to ensure hurdle price is high
c. A disingenuous cad could always run a programme to ensure greatest rewards to coincide with PR Issue dates
And before anyone gets uppity, I am not saying our BoD are that type of BoD. Just pointing out that it could be done.
Therefore the only question is:
Will the BoD pre-set all 5 PR Issue dates in advance at the outset and before the vote takes place.
This has the benefit of ensuring we know whether there is 1 PR Issue date (now) or 5 and when they will be.
If the BoD did this I will vote YES
because it targets/focuses value enhancing programme and dates which is a true test of performance and does not leave performance open to circumstantial abuse.
wjmflp
I was going to have a sabbatical from this BB but after todays announcement I cannot believe the cheek:
1. The co goes belly up in 18 months to 2 years the BoD still get great salaries
2. The co strikes gold and the BoD make huge amounts on top of the salaries
no downsides at all
The options for long suffering PI's are:
So many that will cost its frightening from CR's to failure to the worst which is years of torment
The upside we get lucky
Do other PI's think like me that the risks looked skewered v who has/is funding this co
wjmflp
Just to put the record straight topof
I do not enjoy getting into minor spats on BB's.
With me it's a bit like a reaction to an itch, it will not go away most times unless you scratch it and you know it will only get worse but the immediate relief feels ggod only for the situation to get worse.
I sometimes log off and do not post for a while to stop myself doing it.
My problem at the moment is I still feel sore about the freeze in followed by the failure to complete the fracc fluid removal at IW2.
That is why I am sore and 'bite' when too much 'upside' is spouted on this BB.
Probably have to wean off for a couple of days/weeks.
Regards
wjmflp
Down about 5% on rising poo
topof & brom
Tell that to the countless pi's who invested in co's like XEL and what happened there.
Right you have only my word for my shareholding as we have only yours.
Not that I give any particular sh*te what you believe.
There were those on XEL who posted similar to how you do and lots of pi's (including myself) lost out in the end.
If all you can do is post irrelevant facts every day and tell us after the event that you traded that IMO makes you no different from anyone else here.
wjmflp
Never,
Ta for response.
I am actually at break even on this share.
Lost a bit on Desire, RMP (we know who they are in bed with lol) and XEL
XEL hurt the worst
Being at break even on 88e I will stick around a bit (was 150% up before IW2 freeze in)
So will get out but I think a bit later at a profit - who knows.
I just get a tad tired of some on the BB pointing at bits of fluff given out by our BoD and expecting life changing announcements at Corporate meetings without RNS's (which I hope will come Friday morning but not holding my breath.
I would like to ask how much salary DW has drawn since the cessation of IW2 v how much the reduction in wealth of the posters on here in the same time.
wjmflp - with a substantial holding
A bit like RKH hitting Sealion and Desire being next door and we know what happened to Desire
wjmflp
It makes me think Dave is looking for someone else to create value for 88e
So 7 wells somewhere in Alaska on ANALOGOUS brookian plays has what relevance to 88e other than they look the same? and are being done by somebody else.
Why put it in the corporate presentation other than to fill up the page and create more 'jam'
Took all day
The MM,s have this share stone cold in their pockets
along with our BoD and the 'pale' position as we speak
Only a massive earthquake RNS can break their hold
All IMO
wjmflp
worthless without the bid rising also
wjmflp
The current sp and non-movement says otherwise
wjmflp
If DW cr's at this sp the exit will be pandemic.
Also, if he raises the sp just in time to cr - his mates will be very p**d off
IMO i if CR is happening he is just here to have a look regarding setting it up
either way - imo if news arrives this week a lot of LTH will be very p**d off about the timing
wjmflp
waiting to get out
My guess is he wants City money
May I take this moment to remind the BB of:
1. A disaster (I seem to recall in Italy ?) where a battery production plant went up in smoke with terrible consequences.
2. My opinion of current environmentalists is that they are being used to fuel the race for wealth by a lot of powerful people/governments/companies.
3. When the proliferation of 'special compound' batteries needed for these vehicles end up as waste - who will clean up the 'earth'.
Out of the frying pan somewhat.
A bit like these wind machines in the oceans/sea, when will the real life cost of producing, installing and maintaining them ever be know.
IMO the great lie waiting for history
wjmflp
Phrontist
If only half of what you are reporting (and I am not saying it isn't) then people like Brombarb and mike 2 are blown out of the water and reduced to radio repeater stations of low importance material.
As I have always stated, I am no petrochem engineer but the failure of the vertical and the decision to stop pumping out ghas always worried me.
Not half as much as JV with RMP which was suspended on ASX I believe for inactivity.
Was it 'helped' out of hibernation.
wjmflp