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GOG, I think the legal and SR resources are not part of TAP's...

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choclit

78 Posts.

21/05/15

13:30

Post #: 15324107
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Originally posted by good oil guy ↑

Choclit, I would help if I could but I won't raise your remuneration and FTE questions for you because I don't have a problem with them. Under Troy Hayden, TAP has slimmed down its FTEs, and personally taken a significant salary cash cut, before all this blew up. And, if the Board feels more should be done he won't be afraid to act - but I think we should see how things shake out before judging those things.

In that regard, I think TAP has done a really good job (so far) in addressing the threat posed to the whole company, by the spill notice and the associated disruption involving the heavily conflicted Chatchai Yenbamroong/NGP. This has been a very demanding and resource hungry time, and its not over yet. There's also the Strategic Review.

I'd hate TAP to take shortcuts and not follow through on things properly for the sake of having the right people on the job, and paying the right money. After all, those human resources are leveraging, say, $200 million or more in assets (IMO), and there's a lot going on. Cheers.

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GOG, I think the legal and SR resources are not part of TAP's FTE.

IMO, they just need a couple of JV accountants and a handful of admin/PR resources, nothing more. Contractors will come in, in a consulting-needs basis.

For anyone attending the AGM, if you are of the same opinion as me, then I would appreciate if you can raise this question please. I do find the level of remuneration questionable before, but now is a good time to raise this in a depressed oil price environment.

On a positive note, not a lot of sellers below 38c - good potential for upside once good news come through.

TAP Price at posting: 35.5¢ Sentiment: Buy Disclosure: Held
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