Please correct me if i'm wrong,
but is the remuneration report not based on the calendar year?
well, regardless, based on what they have done this "year" they are not even close to achieving
* Target is the following four Board approved strategic objectives to be achieved by 31 December 2009:
add one exploration block to existing portfolio exploration blocks or commence an exploration
program on an existing tenement other than ATP 626;
obtain a farm-in partner with the capital and capabilities or raise capital and equity to establish 3P
reserves in a tenement to enable the future development of full-scale gas or oil production;
maintain operating control of exploration tenements until reserves are proven; and
successful completion of the 24 well drilling program in ATP 626.
** Target is market capitalisation of $300,000,000 as at 1 May 2010.
now i know they have stanwell, but that was prior to 2009, hence prior remuneration year, at best they make 1-2 of these which is only 50% of 50% (2 objectives met) and they will not have achieved 83.33% of 300 million market cap, so they will not get 75% of the other 50% , so that should be nil on the other 50%(although what they deem they deserve...)
to me they only get 25% of the LTI based on their remuneration which is overall 50% of their fixed
rambling a bit, but i guess the gist is its already too late to achieve the goals no matter what they do between now and the agm,
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