Palmer wants to take over CTP bit by bit by stacking the board but so does Cottee and Askin. Neither camp really cares about the company or the shareholders in general.
Cottee was a huge impetus in the CBM industry in QLD. John Heugh has been hamstrung by a bad board. We need to drill a few more EPT wells at Surprise and get the future developments self funded with cashflow.John Heugh wanted to do this but Askin and the board cut him off and fired him.
It is a shame that he has been stopped in developing Surprise and increasing cashflow. The board are useless, 4 EGMs and multiple court cases are killing this company. Clive Palmer's ticket, though not ideal will at least get Surpise developed, and farm in money to develop other resources that CTP cant fund in the medium term.
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