Snouts to the trough once again. It hasn't taken long before the...

Snouts to the trough once again. It hasn't taken long before the new team and board realise just what a dog they have inherited from RT.

Greg Hancock in a non-executive director. That means 12 board meeting at most a year and the recent annual report said he pulled $33K from the company in fees from 14th Feb to 30th June. Now his director fees are already $60K plus super. He's a non-executive meaning he really doesn't do much and somehow they all feel that his payments are not enough and to award him risk free options to enhance his remuneration.

Conrad believes he should get almost 34 million performance rights (read give me free shares if he meets the hurdles). They the same shares that you all had to pay for. Conrad must think running Triangle and getting paid $335,000 per annum is not enough. Mike Collins who is also a non-executive wants 9 million free shares.

The kicker is the vesting conditions. You should read this as "if your do the job you have been paid for you'll get all these shares given to you"

Fund L7 - of course thats your job, reduce decommissioning cost - you've be saying that already, operate safely - how else AND production... just produce more oil and no talk of economics or making money for shareholders.

So today Triangle had the daily turnover of $1,441 meaning noone is interested.

How long do you think it took the Board and management to come up with this new FREE SHARE SCHEME. Its taken some time to put this scheme together and it goes to show where their focus is - snouts to the trough.

Infinite reasons to dump this stock and invest in something that has potential