form 8k ann tonight?

Hope we have more info tonight. Do not think TB is leaving SSN. However, expect a reorganization putting TB in a more fluid position removed from the daily routine possible.

I see a position play and potential new merger agreement on drilling, and new leases comming that will pull in big investors.

Bob

http://knobias.10kwizard.com/filing.php?param=&ipage=7967788&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=

ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


(e) On December 20, 2011, the Company’s Managing Director, President and Chief Executive Officer Terence M. Barr’s employment agreement was amended to (i) remove all provisions relating to severance payable in connection with a change in control of the Company, and (ii) provide that if the Company gives Mr. Barr less than 12 months prior written notice of the date of termination without cause, then the Company will pay Mr. Barr severance payment equal to his total salary for the difference between the required 12 months notice and the actual notice given by the Company. The pre-amended employment agreement provided for a 90 day notice period and severance payment equal to his total salary for the difference between the required 90 days notice and the actual notice given by the Company.


The amendments to remove provisions relating to change in control severance payments were made in order to ensure that the Company remains in full compliance with the listing requirements of the Australian Securities Exchange (ASX).