""(it also has to be spent responsibly and a lot of people are involved in among the right decisions. If there was a way I’m sure they’d do it.)""
Hotrocks, in any O&G company money has to be spent to at least continue to preserve reserves in O&G. Constant drilling is part of that and tha principle is applied by every company which has funds available to follow that principle. Other similar companies even resort to capital raising to follow that route. CTP is definitely not doing anything of the kind and the only time they drilled a couple of wells, which I can't remember even telling us, they failed, and again it was only discovered in one of their quarterlies while you would have had to use some search skill to find it.
To keep money in the Bank , well mate either there is a real method in their madness or they haven't got the balls to take the risks.
As I said before, one has to spend money to make money, it is simply a basic fact and keeping it in the Bank it will never grow let alone the interest if any it will accumulate.
As such, for you to say that money has to be spent responsibly, it is totally baseless because that is not irresponsible in any ways or form to be doing some drillings which is the basic foundation and reason of any O&G company.
""( I simply saw these posts and thought I’d offer my objective view based on my industry experience in Australia, as I have seen people refer to equipment overseas being and good idea, but as I outlined there’s much more to it than that. I lurk the forums and rarely post, but apologies if some of my comments such as ‘armchair experts’ offended, perhaps I could have chosen better words there.))""
Well to being with in answering this part of yours, the reason I explained what I found out was simply because someone here and in the company made a mention to equipment not been available... That was totally incorrect...PERIOD.!!
My research and people I know from the USA which are Specialist in these fields, confirmed that that equipment is available and on demand and I shared that with anyone willing to take notice of. PERIOD.!!
You also reconciled of what the costs would be to get that equipment here, (A FULL RIG MIND YOU), when, all could be needed here is simply a platform capable of handling that sort of pressure (If true), and/or some blow out preventers. That would only cost a fraction of your original estimate. Would it not.?
As for your armchair comment, well my friend you are the one whom made use of that comment, not me, and for you to now say that better words could have used is a little too late when the damage has already been done towards me.
I never ever write such a thing even though there are times that someone here should be called to task for writing what they do. PERIOD.!!
""(I wish yourself and all of the CTP holders all the best, there are certainly junior O&G companies in much worse positions than CTP, but I imagine it’s extremely frustrating to be so close to something exciting, and having all of the right ingredients to make it happen (cash in the bank, experienced JV etc etc).))""
With this comment of yours, I do partly agree with it. The part that I don't agree with is just because there "MIGHT BE" some O&G companies worse than CTP it is not an excuse. To say that because there are some worse than us is very poor indeed because there are many others which are much much better than us. Besides, take note that these people running the company are paid quite handsomely and even higher than many other O&G companies that I am aware of. We as shareholders, should get something in return for that but, even after waiting for something to come out from them from many months, and now been told that we will have to wait for at least another two years....IF NOT LONGER, as there hasnt ' been any specific date in that announcement, I believe that we have the right to say what we think.
Just to clarify this issue and the point you have raised, I will let you know as well that I do not own any shares in an O&G company which, like you told us, is worse than us. And that is a fact.
I will also let you know that, once upon a time, I used to own a fair amount of shares in this dog but soon started selling down and reducing my holding to a more strategic level, ever since the company was heading in the wrong direction and when targets were never met and when capital raising for specific purposes the money was allocated and spent somewhere else.
In closing, if we are so reliant on STO (Which I believe should not be possible unless someone stuffed up real badly), what is wrong with drilling somewhere else in our tenements.??
Why not continue on with the drilling where we have (Or so I believe we have), an association with INCITEC where gas has been found, and increase our reserves.??
Cheers mate.
Buddy 134
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