Agree, that you can never know what way will go - it is true...

Agree, that you can never know what way will go - it is true that some shareholders would try to get out before drill and reduce risk of their initial investment to be lost in case of dry hole. But I am quite positive we will get not only directors but also new prospects later on.

TPT:
I have looked at the last posts for period from September to end of November last year (pre takeover). Most of high rated posts where showing great dissatisfaction on the way that Board is doing the business/negotiations, specially with a cash-strapped farminee for Australian prospects. Most of you already knew that these prospects are going down the water and high rated posts were screaming to change the board.

Now, today, we finally got rid off board with bad business skills (true, good geologist) and most of posters seeking for a change should be happy, no?

The big mess I see and feel sorry for those ones that had left TPT in December and bought JKA shares to gain additional shares in merged company as if they would if only stayed with TPT (remember, JKA was quoted with discount even after proposal). That is the only mess I see.

Personally, I prefer TPT spend a bit more time and find good competitive directors with experience to run small oil exploration company.

Please see below one very nice post where most of issues are summarized (big thanks Homeboy):

Homeboy 30/11/2013
This is a Harvard Business School case study. How to turn an utter piece of dung firm (DVM) into a potentially immense trophy asset (TPT) through a very lucky, distressed and remote frontier acquisitions at the height of the Financial Crisis and then have varying iterations of 5th rate Managers destroying this inherent value.
I bet all you guys, if we had the PVD mod running this, we'd be well north of $1.50/ps on this firm.
Also I find it mildly bemusing that since our brilliant, and reasonably coherent, venting forum has gained more biting traction towards management over the past 4-6 months, the number of company posts/updates has only increased.
So, clearly management are reading this forum.
On that note.. To Management:
1) Do you flippin better job than the current shambolic mess or have the decency to step down
2) Start protecting shareholder wealth than destroying it
3) Produce a viable and actionable business plan for the next 12-18months and publish it shareholders (time-lines, acquisition regions, Oz asset plans, exit strategy)
4) Balance the Board and bring in external reputable Mid-East/North African experienced oil&gas Non-Exec Directors. It might be an OZ based outfit but the only asset we have is in North Africa. I suggest you play to your strengths.

The other bugbear I have is with the management options and what I have seen to date. The strike of 28c is a joke, it's like gifting it. I;ve started many start-up firms and got paid nothing until I performed. We've given these options for free at a low strike price, which dilutes the original shareholders. |This company is as good as a start-up. The Management are all getting paid well and given free options, which they have priced. Sure we agreed to it but there is agreeing to it and agreeing to it with a gun to your head. I have long stated, it's good we all get rich and I don't mind Management making out like bandits - provide we, the original owners - get taken care of.
I have only seen my wealth in this firm drop from 70-80c when MC was here to 23c piece of dung. Whilst we have paid for expensive hired help salaries, hotels, bizo class flights and who have been give a huge number of shares, whilst diluting our shareholding on a blow-out and costing us money. Utter garbage.

Furthermore, I;ve been in this from the start and as I have stated I wont sell until the drill. However, if I was PVD and wanted a quick diversification of a great asset or say a Genel or Cairns..i'd bid for TPT myself. If someone came today and said i'd pay you 80cent/share - would you get out?
What is the price you will get out now, given all we know?
To me that is the saddest indictment of management's failing, that I would actually entertain getting out. I wont of course but I would consider it. There is always a price.

So to conclude, on my rambling post, we have 2 options - we need to shake up management or get an exit strategy lined up. Cos this is pure death by a thousand cuts..Chinese water torture