Hey sabdow
If you've been around for as long as you say, you would know its John HEUGH, not Jim Heughes. LOL
The crux of the dissent is that it hasn't been JH behind a lot of the decisions he is blamed for. The board has outvoted him and he has announced the board decisions, copping the criticism by shareholders who didn't agree. What shareholders are not privy to is which decisions by the board were split and what position each board member took. Too many posters appear to believe that JH makes all the decisions off his own bat. Companies don't work that way.
For example, after surprise, my understanding is that JH wanted to keep the drill rig and drill again, which many, if not most shareholders would agree with. The board outvoted him and opted to release the rig and commission more 3d seismic. Sure, JH wore the criticism from the shareholders for a decision he didn't agree with. How many other controversial decisions were also split?
So JH is gone for the present and Dalton is the acting CEO. He is still captive to the board decisions and responsible for announcing and implementing their decisions. So he could well find himself in exactly the same position.
The more I learn, the more I am inclined to back the rebellion. We will have the same old decisions being made by the same old crew otherwise. I would like to see how JH performs with a board that is working with him, not against him. Toss the current board, keep Dalton, bring back JH on a performance contract for a fixed period and let's see what he can do.
There is an old saying that a fish rots from the head. The head, in the case of CTP is the current board.
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