This stock has done nothing for years and the management has done even less.
Yep, not a lot happened (no drilling) in the last 3 years.
Last weeks issue of Oil and Gas Weekly had some tables showing junior oiler profit/losses and CEO salaries.
According to the table, Andrew Adams (BAS CEO) was paid $352,410 salary for FY2010.
Given they haven't drilled for 3 years, and had an exploration manager on ~$250k per year to stare at old seismic, then what, on a day to day basis does Mr Adams actually do ? Does he even turn up to an office or just work from home ?
Anyway, BAS is by no means the worst offender. BAS management salary's appear average for a junior oiler. Problem is, the whole industry is a rort.
I started accumulating 2 months ago, average entry 2.4cps.
Reluctant to pay more than 2.5cps given the state of things.
