me options

Im a FAR fan, believe in the whole story and the annual report defiantly indicated that we re targeting W Africa and thats our future. ME created an extensive network there and well done.

I ve also been a SH pre Shell walking and I like to think Im contributed to this Forum. Consequently I dont want to be singled out for down ramping on what the subject may suggest.

Unfortunally, I have an issue with ME options. 6 million shares at 7cps expiring 1212. Options are an incentive and have to hold some risk. These options hold ZERO risk for Mr. Evans. Its only a win/win, one horse race and to make matters worse the SP actually hit 7.2 cps two weeks ago. The committee (ME) issuing these should be revised IMO. Its not rocket science to see how this would pan out, JVP comes along, SP goes through the roof, ME takes up the option. No JVP he doesnt take up the option.

Most SH pre Shell are holding an AV SP above his option price also.

I dont doubt ME salary of 345k. He created the company etc etc. But the options should have been added to create a risk/incentive factor. It should ve been 5cps expiring in one month (before the lease hold) and committed to hold for 1 year. Or 12 cents exercised early 2011 and expiring 2012 for a bonus. We want to see the SP rise, we want to see a JVP , we want to see a FARM IN. Let the option dictate those scenarios please!

ME is the managering director and CEO. He can write his won ticket.

Another matter here, have you every wondered why ME not in the top twenty? He holds 6,225,450
Shares. Have a look at the top twenty and see which company holds that exact amount. Could be nothing and due to regulations on the ASX, ME would have to ANN to SH of any selling down? Its a good question. Why not have your own name though, tax?

HC monitored some time by spec companies. I would like to see some support or comments on this and hopefully FAR/ME will think twice next time around.

Once again, my sentiment BUY, we ll get a JVP and we'll reach those SP we ve been waiting for. But , every captain needs a carrot dangling in front of them, they don t need it put on a silver plate.

IMO,DYOR