article in the sunday age

Barrelling along

Kazakhstan oil exploration group Jupiter Energy is issuing a swag of performance rights to its heavies, but there's not likely to be any complaints as the share price will have to appreciate sharply for them to be cashed in.

David Thorpe, formerly of BHP Billiton Petroleum, has just got the job as managing director on $384,000 a year, but it is the rights he's getting that show the board's bullishness.

Five million rights will vest if Jupiter's market value reaches $100 million or its cumulative production reaches 150,000 barrels of oil.

Another two lots of rights vest if the market value manages to reach $200 million or 300,000 barrels of oil and $300 million or 500,000 barrels respectively.

At last count, Jupiter was valued by the market at $47 million!