The fact that I find interesting is that they sell that they...

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smartdude

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28/09/23

20:41

Post #: 70084259
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Originally posted by pilch: ↑

They are nice people, but has anyone had a look at the options packages ?

Amongst other highlights :

On 12 September 2023, 1,598,600 STI performance rights were granted to key management personnel and 12,866,500 ClassSTI performance rights were granted to management and staff, with a fair value of $578,604 on the following terms:

Being employed by the Company at 1 July 2024•
Odin Production on line (or available) over a 9 month period during FY24•
Full Field Development Plan finalised for the Vali Gas Field and approved by the joint venture
Total capital expenditure for FY24 maintained within 110% of the approved Corporate Budget capital expenditure,

On 14 September 2023, first gas was achieved from the Odin Field (PRL 211 Joint Venture). The initial phase of production from Odin is directed to field appraisal, with the data acquired to inform preparation of a full field development plan.

ie. In a year of much pain for shareholders, due to them cutting corners with Vali 2 + 3 [They used 2nd rate frac company]
[Remember when they kept blaming the weather, despite Beach being able to get on with operations and installations].

It appears that they have gifted themselves nearly $600k with performance criteria which may as well have read, get a coffee and turn up before 10am...if you can.
ie Business as usual could continue for another year, they rewarded and we will get nothing more than promises of plans for 2025...

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The fact that I find interesting is that they sell that they have taken a project from discovery to production in record time. I am not that good with numbers but can someone tell me what going from a $0.20 IPO share price to $0.03 represents? Does not look like a great deal to me. Sadly, corporate Australia is morally bankrupt.
Last edited by smartdude: 28/09/23

VEN Price at posting: 3.0¢ Sentiment: Buy Disclosure: Not Held
3 Upvote

0 Great analysis

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