vote yes, page-15

HalC to me there is nothing better than the KISS method of getting things done. The SP is linked to bopd, reserves and prospects amongst other things. Bonuses should have measurable points.

At the moment the SP is approx 10c with production (as at Q4 2011) of 315 boEpd and proved reserves of 65Mboe.

No one can put a reliable figure on what "may" be down there but if TB can get the production to 3000 boepd and proved reserves to 4 to 5 times what it is at the moment by the end of May I will gladly vote yes.

In regards to your question and my statement I would think a starting point of these milestone events may satisfy me:

1. production at say 1000 boepd with a substantial increase in proven reserves (I haven't sat down and tried to put a number to that) gives the recipients the right to claim a tranche of options with an exercise date about 2 years out and a strike price of 50% above vwap - that gives them the incentive to push on and grow the company.

2. production at your figure of 3000 boepd etc gives the right to another tranche at the same formula at the time with the 2016 expiry.

The biggest issue I have with the resolutions revolves around there being such a low strike price and long lead time but mainly there being no measurable performance criteria.

I do have it in the back of my mind that the long expiry date and low strike price is more about rewarding the recipients WHEN we are taken over than about performance rewards though.....all IMO of course.