Thanks to the folks that sent through questions and comments to raise with Laurence. The meeting was very good and the following Q&A are attached for reference. Where more than one question was raised it has been summarised generically so email or respond for clarification if required.
1. What is Blaze Asset’s current shareholding and has it increased substantially? A. Currently 5-6% . No substantial increase.
2. Legend Petroleum promissory note. Does this give TEX a hold over Catapult prospect if the payment is in default? A. No, the leases are not dependent or linked with the note.
3. Is there a focus on oil rather than gas given the current US gas price? A. Not necessarily. Each prospect is different in terms of risk and return, however if there was a choice between two identical prospects then the decision would probably lean towards oil as the main commodity. But the other variables will usually play a big part in any decision process.
4. Tony Dawe – Is he still active with TEX? A. Yes, very much a strong supporter and part of the team – just on annual leave at the moment
5. As MD you’ve had a 25% remuneration increase over the last 12 months. How is that worked out? A. The process is managed via a peer review of a basket of ASX companies with US interests and was reflective of the market at that time. The current remuneration review has recommended zero increases for the board (including the MD).
6. FAS have recently reissued options that were due to expire on a one for one basis. The one single issue that was raised before this morning was the lack of consideration by the board for the upcoming expiry of options. A. This has been considered by the Board and is not closed at this stage.
regards,
dsm0
TEX Price at posting:
4.7¢ Sentiment: Hold Disclosure: Held
