CTP central petroleum limited

Ann: Annual Report to shareholders, page-3

  1. 740 Posts.
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    For what's it's worth, here is my review of relatively new info gleaned from this report after a quick read thru;

    The Good
    - Leon's CEO Letter - concise wrap up and look to the future (pp.3)
    - 2HFY19 Financials in the black for the first time ever (pp.5) (Knew that before but still pleasing)
    - New exploration strategy and personnel (again, we found this out in the past few months but still good)
    - GRR court issues finalized at long last (pp.23) Hopefully it didn't cost much as the $1.3M described in Item 17(d) on pp. 68

    The Bad
    - Still waiting on a decent Chairman
    - "At the Company’s 2018 Annual General Meeting, 71% of the votes cast were against the adoption of the Remuneration Report." (pp.29) Central’s solution, increase total remuneration for Key Management Personnel (KMP) by 25% from 2.57M to $3.21M (pp.35). Wow, take that shareholders! Oh, and paying your lead lawyer $625k (up $111k on last year) is far too much for the size of this company.

    The Ugly
    - The following sentence in the Chairman's Letter: "At Central we recognize that we don’t have all the answers to solve the Global Climate Change challenge." Perhaps we should sail Greta across to help us Wrix?


 
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