Yes, but what good is the 'experience with E&P companies' if this doesn't translate into tangible shareholder benefits? The SP trend over the past few years has been a disaster, despite a consistently high oil price (discounting for the last couple of months, but even then by historical standards the oil price is still high.)
I heard enough of all their 'experience' and all that stuff. Someone with zero experience in the industry would have found the exact same amount of oil that our experienced board/management have found recently!
If they can't add value to the company, why the exorbitant salaries?
Ann: Company response to withdrawal of requisition to elect Dir, page-4
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