For years their KPI’s been:
1. Credit raising
2. planning drilling project and handing over a fortune to the operators, no link to whether the drill is successful as in found commercially viable quantity and flowing oil.
I think they even got rewarded when the drill head broke off during drilling and abandonment of the plan prior to completion.
if their bonuses were linked to successful finds then the management would’ve had to be paying the shareholders for their incompetence
Ann: Investor Presentation, page-18
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