CPSA Information released

I have just received the following information from Mr Judd

I note that no mention is made in the information whether the CPSA will or will not agree to transmit the material served on CTP and CPSA.

I leave the readers to make up their own mid as to that issue and the secretive alternative BOD (OptionCo)

CB

Dear CPSA Member

Over the last few weeks quite a few things have happened.
ASX announcements

1. The QLD Supreme Court gave the green light for CTP to convene a Scheme meeting
2. Explanatory Booklet and IER released which supports the board’s view that the takeover is fair.

Note: The CPSA is currently still reviewing these documents and does not express an opinion on them.

1. Scheme shareholders meeting was set for 5 June in Brisbane
2. Santos increased its interest in two CTP tenements
3. Transportation agreement signed with APA for the recently signed NT domestic GSA
4. Shareholder information sessions were announced for Brisbane, Perth, Sydney and Melbourne 12 -22 May.

Note: The information sessions have NOT been arranged through the CPSA.

Information sessions/Independence

Further to some shareholder concern, and to avoid any doubt or issues in the future, the CPSA has agreed to take additional steps to gain complete autonomy and independence from CTP.

You will notice that even our logo has changed.

Survey results

The results of SoA Survey#1 were clear that an overwhelming majority of members who participated in the survey were NOT satisfied with the offer under the Scheme.

Proposals for board changes assuming Scheme fails

Two (2) proposals have been presented to the CPSA for an alternate board on the assumption the Scheme will fail.
Proposal from Mr Robert Dean

Robert Dean requested CTP to transition banker Alan Beasley, Petroleum executive Maki Petrovski and John Heugh (former director) to the board SOLEY based on the assumption the current board will resign if the Scheme fails on 5 June. We understand that CTP has advised
Mr. Dean that the current board has not committed to any specific outcome, but would be considering their options if the Scheme is voted down.

For those long standing shareholders, they will recall John Heugh was removed as CEO in 2012. Mr. Heugh then challenged Richard Cottee at a General Meeting, and shareholders voted overwhelmingly in favor of Mr. Cottee.

If members want further details of the Dean proposal they can email [email protected]

Proposal from OptionCo

As mentioned previously, a small group of shareholders have proposed an alternative plan for shareholders to consider if the Scheme fails.

After a review of their propohareholders hands, and we look forward to assisting members however possible.

Regards

Robin Judd
Central Petroleum Shareholders Association