clive ups the ante!!, page-2

Sydney - Tuesday - May 29: (RWE Aust Business News)

Mining executive Clive Palmer has called on shareholders of ASX-listed junior exploration and production company Central Petroleum Limited (ASX-CTP) to dump its current board and reinstate founder John Heugh as managing director.
Mr Palmer, who is Central's largest shareholder through his company Petroleum Nominees Pty Ltd, has urged shareholders to reject the appointment of former Queensland Gas Company head Richard Cottee as Managing Director and reinstate Mr Heugh.

Response .

The battle lines are drawn

Mr Palmer said. "Petroleum Nominees has also been very disappointed with the performance of the Central Petroleum board and the direction they have proposed to take the company. "We believe they should be dismissed..."

Response .

Well we are in agreement there.


Mr Palmer said Petroleum Nominees at a June 22 extraordinary meeting of Central Petroleum would be calling on shareholders to support the appointment of Petroleum Nominees directors Raymond Tam, Bill Schoch and Baljeet Singh to its board. "Mr Tam, Mr Schoch and Ms Singh are consummate professionals with a wealth of financial and corporate experience that Central needs to go forward," he said.

Response.

"consummate professionals with a wealth of financial and corporate experience that Central needs to go forward"

But what experience in Oil and Gas do they have ??

Mr Palmer said his Group's interest in Central Petroleum would be terminated if the current board continued.

Response.

Enough of the threats please.

Good bye Mr Askin and co. no chance of you surviving any election .

"Mr Heugh said Central had been in a parlous state since his
termination and was mired in escalating litigation.
"By now we should have been in significant oil production with attendant cash flow having executed significant farm-out deals," he said."

Response

Totally agree !

They are determined to maximise shareholder value for our
shareholders and to retain the lion's share of the company's assets in shareholders hands.

Response

If they dont they can expect to hear from the shareholders very quickly !!

"Mr Palmer clearly has the interests of Australia at heart...

Response

Commensurate with the interests of shareholders I hope !

CB