CTP salaries, page-44

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ravishankaray

11,084 Posts.

02/07/14

12:15

Post #: 13599891
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Originally posted by doomtrader ↑

RC raised his salary when CTP's shareprice was looking to go up and up. I think this was done a little too soon and without the company's best interests in mind, but you could see why it was done. Now that the SP is going down, I think the only appropriate action is for RC's salary to take a cut to reflect his failure to live up to the lofty expectations he had of himself. Bring his salary more in-line with his performance over the past year. If he cut $2m from his personal salary, the Surprise East well, which we were discussing the economics of in another topic, may have become affordable. Stuff like this really matters to a small company. Especially as CTP has not drilled a single well of its own in the last 2 years of RC at the helm despite repeated promises.

RC needs to remind himself that CTP is a small company, and he is not entitled to a steady high salary unless he delivers. That is why he was offered and accepted options exercisable at the various price points pointed out by haasko. That is all the incentive he deserves. Beyond that, like any small-company MD, he is only worth as much as the value he brings to the company, regardless of his reputation.

Let me put it another way. If the MD of a company with a plummeting shareprice and questionable economics still insists he is worth $2.3 million a year, we should be looking for a new MD right away. The last thing CTP needs right now is the overheads of QGC. Especially when you factor in that RC's ego made CTP operator of the Total JV, meaning they have to cough up serious amounts of cash they don't have. None of this is good for CTP. I worry if this trend continues unabated by Santos discoveries in the Amadeus, then the company risks becoming insolvent.

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Good analysis DT, calling a spade a spade IMO.
How can an MD sleep at night when not delivering the goods, as promoted 2 years or so ago ?

CTP Price at posting: 31.5¢ Sentiment: Hold Disclosure: Held
3 Upvote

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(20min delay)
Last 5.3¢		Change 0.000(0.00%)		Mkt cap ! $39.49M

Open	High	Low	Value	Volume
5.3¢	5.4¢	5.3¢	$2.516K	47.46K

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No.	Vol.	Price($)
1	28332	5.3¢

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Price($)	Vol.	No.
5.4¢	37508	2

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No.	Vol.	Price($)
1	28332	0.053
3	283254	0.052
4	579313	0.051
4	375000	0.050
3	40418	0.041

Price($)	Vol.	No.
0.054	37508	2
0.055	100000	1
0.057	45466	1
0.058	100000	1
0.060	99559	2

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CTP salaries, page-44

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CTP salaries, page-44

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