Once again, restricted orders aside, only 16,000 shares stand between the current price and $2.00.
Another matter worth observing is the sweet options deal: "Jeffrey Standen, chief executive of Charger, has been granted options to purchase 374,825 shares of Charger Petroleums at 25 cents apiece, and 145,000 shares of Extreme Energy at 50 cents each." (From Extreme's May 29, 1999 N.R.).
I don't object to senior executives being properly incented or sharing in the success of the company. What is distasteful to me about this situation, however, is the swift reward for such seemingly manifest underperformace. Unless, of course, earnings and sound dealing-making are not the goals, and rapid share price appreciation is all that counts.
Statement of interest: I hold short positions in both Extreme Energy and Charger Petroleum. |
