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Corporate Governance Summary

  • Annual election of all Directors;
  • No loans to employees or Directors;
  • No repricing of options;
  • CEO is the only inside Director;
  • An Audit Committee consisting only of independent directors;
  • Adoption of formal Audit Committee Charter in May 2000;
  • Adopted formal Code of Ethics in December 2002;
  • No charitable contributions;
  • Transparent accounting
    • Successful efforts accounting for natural gas and oil activities;
    • Employee options are expensed.
  • Management and the Board of Directors own 13% of fully diluted shares;
  • Incentives aligned.