Ann: Becoming a substantial holder, page-131

delux 73...

Range didn't sell any last time either...that is until they suddenly used the stock to settle the loan.

The new "owner" never showed up on the register...which of course indicates the shares were used to cover a likely short position.

So...whilst the shares were "owned" by range, and they remained a holder...the shares were clearly were made available to be sold...and as we learnt were in fact sold.

Seeing the RRS shares on the register means absolutely nothing...same can be said for the LAR shares.

Who's to say both haven't been sold (or are still being sold) and once gone will be replaced via a cheap placement?

And...no change in position will ever be registered!

This has been the pattern for over 2 years...otherwise known as raising funds from the market...

The lack of market updates and obvious seeding of information into the market via the likes of HC and major shareholders should be a significant concern for everyone...including the major shareholders.

No less the ASX and ASIC.

The issue is not bad luck at the rig, or anything to do with the drilling operations (you take the good with the bad in this game)...the issue is everything else around it...corporate shenanigans.

Whilst we all awaited news of AT#5, 10's of millions of shares were being dumped on market...day after day...and we (the retail bunny's) were all buying them.

Then we learn about the salt and concrete issue...but, by the time we did, the stock had already been sold down from 1.6...1.5...1.4...1.3...1.2...1.1c...1.0c...and is now fluffing at 0.9/0.8c.

By not updating the market about this somewhat important issue earlier, the Company created a scenario where someone was able to dump into an unsuspecting market at prices much higher than they may have otherwise achieved had the news been out for everyone to share.

Who dumped...and did they know about the drilling mishaps?

It appears nobody at CTR is accountable...not to shareholders...not to the ASX...not to ASIC.

The longer the drill takes, the more it costs, the more LAR make and the more wages that get sucked from cash reserves.

And...by choosing not to regularly update the market of potentially significant activity at the rig, bad news ends up in the hands of some well before the rest of the market.

This is exactly what happened during AT#4 by the way...go back and check!

I have never quite understood how such shallow wells costs so much to drill...especially when you own the drill rig?

Two years to drill two shallow wells (typical depth to the cooper basin - 4000ft)...lol...and a litany of "reasons" why things keep getting delayed.

Do LAR charge separately for the drilling contract?

Cheers!