Dis, I agree a $1.2M salary is exhorbitant given the SP performance. However if revenue growth was the KPI then so be it - and shareholders were aware what the KPI was. If the new KPI is SP growth and he is as good as you imply he is at focusing solely on one KPI then surely he will be successful in delivering on his KPI over the coming 12 months.
As to ignoring well economics, etc, the stated plan since last year has been the HBP strategy by drilling 53 cumulative gross wells - also well known by shareholders, and furthermore grow production in line with the type curve amd all available indications are that the gross well target will be achieved and certainly the available IP, 30 60 and 90 day production data for various wells imdicate the early part of the type curve is being achieved on average.
Whether the HBP strategy is followed or not, heavy investment in production growth is typical for an oiler at this stage of its lifecycle - its going to take a lot of money to ramp up production before drilling investment can be pared back to a lower level.
Cheers, Sharks.
RFE Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
