"Company share price
31 December 2016 31 December 2017 % of Performance Rights to vest
Less than $0.30 Less than $0.40 0%
$0.30 to $0.60 $0.40 to $0.70 Proportionate vesting between 0% and 100%
More than $0.60 More than $0.70 100%
2/ 40% based on relative share price at 31 December 2016 and 31 December 2017:
Company ranking against Peer Group % of Performance Rights to vest
Less than 50th percentile 0%
50th to 90th percentile Proportionate vesting between 0% and 100%
More than 90th percentile 100%
The Peer Group comprises: Green Dragon Gas Ltd (LSE: GDG), MIE Holdings (SEHK: 1555), Far East Energy (US:FEEC), Sino
Oil and Gas (SEHK: 0702), Beach Energy Limited (ASX:BPT), Senex (ASX:SXY), Drillsearch Energy Limited (ASX
![Big Grin](styles/default/xenforo/clear.png)
LS), AWE
Limited (ASX:AWE), Horizon Limited (ASX:HZN), Tap Oil Limited (ASX:TAP), Karoon Gas Australia Limited (ASX:KAR), Buru
(ASX:BRU), Great Eastern Energy Corporation (LSE:GEEC), Sundance Energy Limited (ASX:SEA), Maverick Drilling and
32
Directors Report
Sino Gas & Energy Holdings Limited
Director’s Report
for the year ended 31 December 2014
(continued)
33
Exploration Limited (ASX: MAD), Cooper Energy Limited (ASX:COE), Antares Energy Limited (ASX:AZZ), and Pancontinental Oil
and Gas NL (ASX
![Stick Out Tongue](styles/default/xenforo/clear.png)
CL).
The share price comparison will be based on the 90 day volume weighted average price of ordinary shares quoted on the
applicable stock exchange immediately prior to the date of issue of the Performance Rights and immediately prior to the end of
the Performance Period.
3/ 20% based on the average of daily production days measured in million standard cubic feet per day (MMscf/d) for the period
of one month prior to the end of the Performance Period for online production.
Average daily gross production
31 December 2016 31 December 2017 % of Performance Rights to vest
Less than 25 MMscf/d Less than 50 MMscf/d 0%
25 MMscf/d to 50 MMscf/d 50 MMscf/d to 100 MMscf/d Proportionate vesting between 0% and 80%
50 MMscf/d to 60 MMscf/d 100 MMscf/d to 120 MMscf/d Proportionate vesting between 80% and 100%
More than 60 MMscf/d More than 120 MMscf/d 100%"