Thanks Ross,
One thing I forgot to mention in my post yesterday was Cottee's reply to a question I asked about the clause in the agreement with Santos and now with Macquarie which enables the owner of their 50% of Mereenie to have final say on the production and selling of the product. I asked RC if he would try to re-negotiate this clause.
In his answer he pointed out that the clause had been agreed to with Santos because they are one of Australia's major oil and gas producers and therefore, at the time, had the necessary expertise. Now the joint owner is Macquarie they would surely acknowledge that their speciality is merchant banking not oil exploration, production and marketing - CTP's reason for being. For that reason CTP would be seeking to have the clause renegotiated in the interest of both parties.
CTP Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
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