The company has successfully reached a stable financial position through revenue generated from their one oil site, with the CEO revising his compensation to be in line with operational costs and earnings from their 2% share of oil sales in the joint venture with Santos.
Despite ongoing concerns from stakeholders regarding the perceived lack of action to increase shareholder value, they are determined IMO to do no more than to maintain this cost. stability and focus on sustaining remuneration to the CEO and board as long as the wells remain productive.
Ann: Interim Financial Report December 2023, page-7
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