Recent

% | $
Quotes you view appear here for quick access.

Equal Energy Ltd. Message Board

  • nawaralsaadi nawaralsaadi Mar 31, 2012 9:04 PM Flag

    Klapko Compensation

    This information is taken from 2011 information circular; for the years 2008, 2009 and 2010 Mr.Klapko was paid us the following:

    2008 as consultant: $840K
    2008 as CEO: $6.6m
    2009: 854K
    2010: 554K

    Total for the 3 years above: $8.84m

    The information of his compensation for 2011 last year has not be released yet, it should in the next 10 days. I would imagine he would be getting somewhere between $500K and $1m for his work, bringing his total compensation close to $10m.

    Check page 17 for details on his pay:
    http://www.equalenergy.ca/en/financials/2010_info_circ_av2011_04_07-final.pdf

    Can someone tell me why this guy deserves to get paid close to $10 million since 2008 while shareholders have not seen a penny? does he think that he is running Chevron?; yet in my phone call with him on February 28th he has the audacity to tell me: "No one of you know how hard we work here", I think he forgot that this is not charity, we are paying him in a couple of years more than an average American citizen would make in a life time.

    Yet for all this money, shareholders actually lost over 60% of the value of their shares; Klapko would tell you, it is not my fault it is natural gas prices; yet his peers have their companies trade at double our valuation with the same natural gas prices.

    This company board of directors need to do its fiduciary duty and protect the interest of shareholders, before all our oil and gas turn into cash going to Klapko's pocket.

    Regards,
    Nawar

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • bump the negativity.

    • Here is a funny stat, Exxon CEO received a total compensation of $34m last year, 14 times more than Klapko's at $2.35m; notice however that Exxon generated $433B in revenues in 2011, this is roughly 3400 times more than EQU's $127m in revenues last year.

      If we were to apply Klapko pay scale to Exxon as a percentage of revenues, the Exxon CEO would make $8 billion dollars.

      Can you comprehend how overpaid this guy is? and this is without even comparing his performance and the share performance vs Exxon.

      http://www.reuters.com/article/2012/04/12/exxon-proxy-idUSL2E8FCNI220120412?type=companyNews&feedType=RSS&feedName=companyNews&rpc=43

      Regards,
      Nawar

      • 1 Reply to nawaralsaadi
      • sorry I stand corrected, Exxon CEO compensation would be only $6.5B!

        ------------------------

        Here is a funny stat, Exxon CEO received a total compensation of $34m last year, 14 times more than Klapko's at $2.35m; notice however that Exxon generated $433B in revenues in 2011, this is roughly 2650 times more than EQU's $163m in revenues last year.

        If we were to apply Klapko pay scale to Exxon as a percentage of revenues, the Exxon CEO would make $6.5 billion dollars.

        Can you comprehend how overpaid this guy is? and this is without even comparing his performance and the share performance vs Exxon.

    • completely agree! thank you, Nawar!

      • 1 Reply to thor602000
      • You welcome guys; I am bringing this information out to light in my upcoming Seeking Alpha article. I have already warned the management team and the board of directors, if they don't proceed with concrete steps to safeguard and unlock shareholder value by the annual shareholders meeting on May 11th, this could get ugly.

        Those guys will not get a pass, now now, not anymore; the time of wheel spinning and executives pocketing millions at our expense is over; this company is not without owners; those guys will be accountable.

        Some of Klapko actions could be ground for legal action; in February 21st he publicly undermined our negotiating position for the Mississippian JV when he publicly mentioned that the Mississippian acreage is not as good as people think: "you can sink $3 million dollars in a well and get 50 barrels"; while this is possible, he failed to mention, that you can sink $3 million and get 1000+ barrels of production as has been demonstrated by Sandridge, Eagle Energy, Devon ..

        Which CEO undermines his own negotiating position a month before signing a deal to maximize shareholder value? Is he really protecting our interests? why do we pay him millions of dollars for such actions?. This is another aspect where he could be found legally accountable for a breach of trust.

        Regards,
        Nawar

 
EQU
0.00(0.00%)