The main issues come to mind, the reduction strategy of announcements made by previous management. Another issue that no one has yet to identify was the verbal comment made in relation to the 2020 pipeline link to be made between the Northern territory and Queensland. This is assuming that the Georgina basin does indeed become identified as being a new Hydrocarbon province.
I am in no particular camp, both prior and current management in my opinion have under delivered, but we can see that Richard may be trying to reduce the free knives with every share sold and the publishing of an announcement made by company every couple of hours.
As long as the organisation communicates progress and as long as it is not to be deemed as being price sensitive classification by ASX, I have no issues. The ABC news link was placed on the CTP web site hence, transparency to an extent can be argued. I do however have concern with critical announcement such as, the Surprise down hole pump, the commissioning (full activation) of the down hole pump and a range of conflicting media information relating to said subject on other
Richard made mention to the pipeline project being scheduled for around 2018/2020, based on CTP’s progress made on numerous fronts to date, I would be sceptical of the 20120 completion date, CTP’s milestone have been less than achieved. However, if we examine the time line and the drilling/discovery of an economically viable hydrocarbon announcement which could be made some time during quarter 1, 2015, the verbally communicated 2020 pipeline completion date seems to be a long and dawn out schedule.
Many have been patent with CTP over the last two years, to indicate that a pipeline link between NT and Queensland creates a degree of frustration yet again. On the bright side, Total will be monitoring the progress made by CTP and have place a small project team in CTP’s office. This degree of supervision will ensure that the Georgina Basin is provide with equal priority if not on a more monitored process.
On an other note, let's hope that no toppling of rig is announced and for once, CTP has a smooth drilling campaign free from undesirable events.
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