The Directors’ fees for the 2014 fiscal year are: 
Base fees Amount 
Board Service  
Chairman A$132,500  
Non-executive Director A$100,000  
  
Committee Service  
Audit and Risk Management Committee Chair A$29,500 
Remuneration and Nominations Committee Chair A$20,250 
Reserves Committee Chair A$17,500 
Member of the Audit and Risk Management or Remuneration and Nominations 
Committee 
A$11,000 
Member of the Reserves Committee A$8,250 
 
(Note: The above amounts are paid to the Australian non- executive directors in Australian dollars. For the US based non-
executive director the same nominal amounts were paid in US dollars.) 
During 2013, on the recommendation of the Managing Director, an additional amount of A$85,000 was paid to each of the three 
Australian non-executive directors for the additional work carried out and additional time required during the second half of 2012 
and the first quarter of 2013 related to the South Antelope sale, Wells Fargo Credit Facility, Wattenberg acquisition, and th e 
Texon Scheme of Arrangement.  Also during 2013, an amount of US$80,000 was paid to the US -based non-executive director 
upon joining the Board of Directors as an incentive to attract high calibre talent to the Board. 
H. Voting and Comments made at the Company’s Year Ended 31 December 2013 Annual General Meeting  
 
The Company received more than 96% of ‘yes’ votes on its remuneration report for the financial year ended 31 December 2013.  
The Committee values feedback from the shareholders and engages in conversations with key shareholders and their advisors on 
a regular basis. 
 
I. Employment Contracts 
 
Eric McCrady - Managing Director and CEO 
The Managing Director’s employment contract has a three year term commencing 1 January 2014 with  base remuneration of 
US$370,000 per year which is reviewed annually by the Remuneration and Nominations Committee. He is eligible to participate 
in the Incentive Compensation Plan.  The Managing Director  is entitled to the specified remuneration and benefits through the 
term of the agreement.  The Company may terminate the Managing Director’s employment at any time for good cause (for 
example, material breach of contract, gross negligence) without notice and the Managing Director  may give 90 days’ notice to 
terminate the employment contract; both of which result in the Managing Director receiving pay through the period of services 
performed.  
 
In the instance of a change in control of the Company, at the instigation of the Board of Directors, if the Managing Director’s title 
and duties are substantially reduced  then the Managing Director, within two months of such reduction in status, may provide 
two weeks written notice to the Company as being terminated by the Company other than for good cause and will receive his 
base salary through the end of the contract term. 
 
At the date of this report, no other directors nor other key management personnel have employment contracts. 
 
  
- 40 -