adamstock, Your really need to reflect on the past few years: -...

adamstock,

Your really need to reflect on the past few years:

- Morocco spud was delayed on several occasions before the oil price collapsed, had Morocco spud happened before the oil price collapsed, the SP in the lead up to the spud would have happened. Shareholders in the end became sceptical of the spud date as well as the low oil price. Remember management is meant to make it happen, not seek out excuses for it not happening.

- Both a former director and Damon Neaves sold shares to pay taxation on profits made on PVD shares. On both occasions the SP declined significantly.

- Damon Neaves has received a significant allocation of shares (free of charge) and is receiving a high remuneration compared with other oil companies with a similar risk profile (and other companies generally) that are reducing remuneration to reflect the current economic conditions.

- There was management's obvious out-of-control greed to get shares and other benefits but this was over-ruled by the shareholders, thankfully!

- shares have been allocated to institutional investors and proactive investors at SP at deep discount. Ordinary loyal shareholders have never been offered any share allocation.

Management at PVD should be taking a cut to their remuneration. Also, an allocation of 5M shares will further dilute the PVD SP. What is Damon Neaves receiving it for? Doing his job!

The jar of Vaseline is almost empty.

I rarely vote at PVD meetings, but this time I have made the effort.

Bos