Is There Something Shareholders Can Do ?

This is not Investment advice and do your own research.

The Trigger for this post came from my post yesterday which basically said that Macquarie had lent us $10 Million with a reasonable expectation of selling the 5.2PJ of gas to be delivered to Moomba over 3 years at a profit in round figures > $10M per year.  IMO that’s not usury its usury on steroids.

Good luck to the usurer it’s a free country but let’s face it, we the usurees have let the share price drift down to the point that a capital raising would have diluted the shareholding too much and CTP needed money and were cornered and we will probably end up paying the price.

Along with many others I have just about given up on trying to get CTP to put a much higher priority on communication with shareholders so we the shareholders just have to bypass them & do some real communicating of our own.

So I am not being a CTP lackey I am just telling it the way my gut sees it. Please forgive my candour.

I again stress that I symphonise with the small number of shareholders who may have needed to sell for various reasons but look at the graph... the turnover is pretty thin.

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Spare the normal sceptical posts the drift down has been on pretty thin turnover so the vast majority of the CTP shareholders have been very loyal to CTP through thick & thin.

This post may well be too late but if the MAC offer is at a price that is probably going to make them the same margin as the gas sale deal we may really need dig in to protect our respective investments and long term losses where we have shown loyalty to CTP.

In simple terms surely we as shareholders can help CTP if RC gets out of the present situation by supporting a modest capital raising to survive & do the necessary reserves enhancement ready for the NGP to be commissioned.

We are like a square rigger with a load of valuable tea on board that just has to clear Cape Horn to do the home run to England and make a tidy profit!

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This is a hell of a lot different to a capital raising for wildcat drilling!

Once we have made a quid we can think about that later.

I have done a lot of work on this and IMO my findings are that the rock bottom value of CTP based on Reserves certified by Netherland Sewell and Associates with reasonable expectations on depletion and capital injection curves is well north of 50C.

This is serious money we are talking about so please let’s all combine to identify and support opportunities starting with the capitalisation of the Mereenie reserves as outlined in the recent half yearly report.

If anyone disagrees with the gist of this post please say so, on a separate post and castigate me accordingly.

If on the other hand shareholders reading this agree with its basic concept please uptick it to show solidarity and I will personally send it to RC.

Best regards to all fellow shareholders.

OGP

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