I would be extremely dissapointed to see any bonuses at all given to employees.
Firstly, they have churned through a large amount of money with no result. I understand it was a 'punt' based on 'significant shows' of information, however the punt was bad. The opportunity cost was that something else could have been done with the funds.
Secondly, significant cash raising and shareholder dilution was required due to the 'punt' above.
Thirdly, sale of acreage was also required.
I'd say that the decision to pursue the wildcats so blindly cost the shareholders a lot. Why should anyone be rewarded as a result?
On the advisory, it's nice to see some factual progress.
SSN Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
