Ann: FMDP Rocket Well Completion Operations Finished, page-85

Nope, never was happy with the 500 million CPS free bee 1.1 c options on the Jewell cap raise at 0.75 c

I was upset about the 100, million free 1.1 c options in the $ 9 million Rangers cap raise at 3c, but after clarification with DP ( lowered the effective issue price to 2.4 c but theit exercise added $1 .1 million to the coffers rather than just issuing at 2.4 c), I understood the machinations behind the process which made sense.


Absolutely support management and employee remuneration and new incentive scheme. The new scheme will not have the ad-hoc nature of the previous one. I think I clearly showed in a recent post of the ATS peer group, of which they had included BRK, that in pay vs operational performance , he and by implication, the rest of the BRK team, are materially under-remunerated.

Some of the packages of the other MD’s are a joke compared to what they have achieved operationally. It’s successful operations which lead to cashflow ,profit and eventual sustainable shareholder returns, just like operational failure leads to the opposite.

It is true that up to now, there has been a disconnect between BRK operational success and shareholder returns.. and there is no guarantee that will change but typically one follows the other.

I don’t think many will argue that there is usually no link between operational failure and market failure.. not many companies get rewarded by the market when their oil well is dry, or there is no gold in their cores, or the gold mine produces less ounces at a much higher cost then projected.

BRK management a not perfect. I would ideally like to see them buy back shares at these levels…. even if it’s just the ~34 million incentive shares and rights issued post the AGM. I’m not sure I would want them to do this at the cost of a start on the next DSU which shouldn’t be the case for a repurchase of the incentive shares/ rights.I would like to see the other 2 directors buy on market at these levels etc,etc.

BRK Fundamentals haven't changed here.