It wont be bonus payments for the board.The previous cash bonus payments were made after the successful sale of the eagle ford assetts.(I dont neccessarily agree with these payments)
In my opinion(the 3m quarterly admin cost projections) are legal costs incured for aquisitions of leases.
An oil/gas lawyer was appointed to the board ,as the company is anticipating making further significant aquisitions.
The company can internally assess the opportunities as they arise.
I dont think it would be a good look if the next $10m credit drawdown was for director and staff bonuses.
All the best.
Ann: Quarterly Activity and Cash Flow Reports , page-9
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