I also sympathise with your sentiments in relation to more information and particularly re the drilling program. However it was only a few days ago that the qtrly announcement gave us info on the status of negotiations, the players involved including BG, the consideration of looking for another major player and the consideration of a potential acquistion.
I do not subscribe to going it alone on the drilling program and although it would be feasible and good for the SP in the immediate short term, very risky in the medium term re cash flow and diluting the share capital via the convertible bonds. Nor do i think the capital raising was for the drilling program but more to do with the potential acquisition now that it has been announced.
If the above is close to what the CTP objectives are, then there can be no drilling program announcement until such time as negotiations have concluded and the the JV partners are formally on board and have had there input into the drilling program. I do however as per yourself and many other holders hope the announcement re partners and/or drilling comes sooner rather than later.
In relation to ACBO and active trading of shares, this is no different to other shareholders who have to make decisions on to hold or sell. IMO the important aspect re the CBonds is that there is a line of funding available that is supporting what I believe to be a strategy that will better benefit all shareholders in the short-medium-long term
regards JJ.
CTP Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
