"Costs will also exclude all exploration and development expenditure for the period after deduction of all administrative costs associated with these expenditures".
If I read this correctly, the Board can pay themselves 20% of the net cash flow (up to a maximum of $1.2 million) without including exploration, development and administrative costs. So what other major costs are there?
They can spend whatever they like on unproductive wells without impinging on their bonus payments - surely I'm missing something here!
I've just printed off the Annual Report so will go and spend some time digesting it,
SSN Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
