If the guy running the show, regardless of the skill in assembling acreage or technical expertise in seeing the opportunity, UNLESS they have been tutored by or were mentored under someone who has built a company, then they (in this case JH) will be a disaster.
The reson for this is they don't know what they don't know, yet think they know.
Ever met anyone in your profession or trade who seemed the goods but you ask a few questions and realise that they are skin deep? Seems to me we have that here when JH approaches the hard men with his powerpoint slides. The personal opinions post presentation after JH leaves would be "rubbish, we need to fix that, but acreage could be interesting".
What would hard men be thinking now...? Lets hang around a bit and string CTP along a bit and see what happens - the longer we wait the cheaper we can get this thing.
The point is there are plenty of places on the planet to sink a 8 inch hole.
My guess is you will see acreage disappear along with Opertorship and CTP left with a JV where CTP can participate if they have cash. If it was my money as a hard man, I wouldn't accept any other deal.
CTP Price at posting:
24.0¢ Sentiment: None Disclosure: Held
