CTP salaries, page-86

The following may asist as read in last years Operations Report and ASX Appendix 5B For the Quarter ended 30 June 2013
announcement. The link located below the page for your convinience if required.


"Central will operate the farm-out areas for the first four years and after completion of stage 3 Total will assume operatorship for 90% of the area. Central will retain operatorship of the upstream activities on the remaining 10% of the area"

I believe you may be correct in statement regarding staff, working for any so called international to 5 oil and gas gorilla requires a fair degree of check and balances to be applied to any aspects of the project, staff would have been required to support the technical and administrative side of work commitments. On the bright side, for every staff employed for the dedication of the project, those man hours are bookable. I am lead to believe that financial support and a delta (profit marine) is being secured by CTP from the Gorilla.

If the above is the case, then it does not matter how many staff are employed as long as CTP stay with-in their manning philosophy which may have been reviewed and approved by company. Cost Time Resource (CTR) reviews is a typical example of how O&G organisations managed the cost control of projects, I see Total being no different.

Let’s hope that the human resource aspects (CTR) and the marriage to be applied to the rocks (sucessful exploration campaign), provides a honeymoon in heaven. Operations Report 30 June 2013