CTP remains an amazingly frustrating stock to hold. Under their circumstances they have been getting quite a few things right, but they appear to have little regard for timeliness and plenty of false bravado with regards intent to shareholders.
Blind Freddy could see they messed up with the recent Dukas announcement, and they have tried to temper 2023 with a maybe late 2022. Why mention 2023 at all? That really derailed the SP rally the week before.
Also why not take the opportunity to remind punters the size of the potential prize at Dukas and Zevon?
Why are we only just now hearing about the Mereenie Recompletions drilling results, when this could have been done earlier via its own Ann and with more enthusiasm? Also why not give a how and when for those potential new reserve upgrades?
I have nothing to add on Range. CTP's recent performance at its most low risk opportunity is a bit depressing really, and sadly the market agrees with me.
Allegedly the drilling program will start in the coming 2 weeks, but as always with CTP that could very well slip.
Management pretends to scratch their heads and wonder why the SP is going nowhere. Here's a hint: act as though time is of the essence, provide encouragement & enthusiasm to investors and most of all, continually sell the potential. Alternatively just continue to bumble along in your own time, as the SP trudges along at 10-12c, and shareholders shake their heads in disbelief.
CTP Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
