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Exceptional-Value Creation Award (‘EVCA’)
In 2015, the Company awarded 17 of its employees, mainly in its area offices, an EVCA ‘spot’ bonus for various
accomplishments that are above and beyond the respective employee’s usual tasks. All recognised achievements
have created value to the Company at varying levels. For executives below the Board, the CEO approves all EVCAs.
No Executive Director was awarded an EVCA in 2015.
The total expenditure of all EVCAs awarded in 2015 is US$44,000 (2014: US$160,000). The initial approved EVCA
budget for the year was set at US$62,500.
Corporate Scorecard
The following table illustrates the performance measures considered for the corporate scorecard in 2015, selected
to fairly capture all key aspects of Company performance. The precise targets and measures have not been disclosed
for reasons of commercial sensitivity.
Category
Objective
Weighting (%)
HSSE Performance
Deliver Strong HSSE Performance (operated assets).
15%
People Operation
Performance
Employee Recruitment, Retention, Engagement & Development.
10%
Financial & Shareholder
Value Performance
Cost Optimisation
20%
Minimise Outstanding Receivables
Achieve Operating Profitability
Maximise Earnings per Share (EPS)
Operational Performance
Achieve Production Volume
25%
Add 2P WI Reserves
Capital Expenditure
Strategic
Siba Field Project Development
30%
Block 9 Production Commencement
Efficiency of Reserves Development
100%
The outcome of the 2015 Scorecard Score was 68.6%.
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