Ann: Appointment of Chief Executive Officer, page-26

Not sure how long you have been a "long term shareholder" in Beach but some of your facts are inaccurate.
Firstly to say they have a long standing target of 28MMboe for 2024 is not quite true as back at the November 2018 AGM the target was 30 -36MMboe.

Secondly to say that 28MMboe is a very tough target and will be a fantastic achievement if they achieve it ignores the fact that back in 2018/19 it was actually at that level anyway.
From the June 2018 quarter to June 2019 quarter the quarterly sales were 7.3MMboe 7.65MMboe 7.68MMboe 7.13MMboe 7.38MMboe.

Since June 2019 the quarterly sales have declined from 7.38MMboe to 5.05MMboe and during that time (July 2019 to March 2022) they spent $2.155B in Capex in an attempt to increase production and reserves but the opposite has happened.

Now I would agree that if you go back to 2016 when Morne was recruited the company has improved from where it was and that was due to the Lattice aquisition which they got at a bargain price plus substantially higher oil and gas prices which have massively helped improve the bottom line.

However since June 2019 things have not been anywhere near as successful.
Production has dropped significantly, oil reserves have been depleted and the only thing bailing the company out right now is the abnormally high oil and gas prices and that has nothing to do with the quality of the companies management.
Lets not forget they also currently still have a class action against them.

I was a very long term shareholder going right back to the early 2000's and have seen massive growth in the company plus several up's and down's during that time.

I do still think the company has potential and agree that it could well hit $2.00 but that is mainly due to the current high oil and gas prices right now.

I feel that over the past 3 years if we had of had better quality management running the company we would currently have higher production, higher reserves, we would have acquired more assets and the share price would be at least $3.00+ right now.

This is why I said that the company should have got some fresh blood in the company and is why I mainly day trade the shares now rather than hold them long term.

Having said all that if the company can demonstrate that they have substantially increased both production and reserves in the next couple of quarters I will switch back to holding rather than trading the shares.