So how much would you be paying executives and board members to run this company? To try to pick it up after years of mismanagenent and changes of direction, to negotiate with a reluctant Santos who have dragged there feet for the last 8 years or more on Dukas and continue to do so, negotiate with Macquarie Bank, CUE and other new partners, identify the best of many potential high value targets to drill and to fund a $100m drilling program. All in a time when the world is talking about the move away from fossil fuels because of climate change which is making people nervous of longer term gas futures, while current producers are getting good returns. CTP still has a lot of work to do to turn a lot of its assets into producing fields therefore I would think it is perceived to be far less attractive than existing gas producers.
I still believe CTP's future is in Helium, Santos selling down their interest to a Singapore Helium company that has the exploration block next to Dukas is a real positive. This is a company very interested in the development of Helium resources that may also assist us with Zevron, or taking up some of CTPs Dukas shares. Their shareholding in Dukas combined with CTPs shares dilutes Santos down under 50% which may allow CTP and the Singapore company more control. It would be nice to know what sort of price Santos got for its Dukas sell down.
https://www.chemanalyst.com/Pricing-data/bulk-helium-1100
