"I think everyone is missing the point. And I dont want to sound like a broken record, but there is OIL out there....somewhere!
But the incompetence (nearly typed "incontinence".lol) of the Board; JH and snr management, as PSI most ably has pointed out also, has led the market in general and a lot of shareholders to lose confidence in this mobs ability to run a company with such huge potential.
Nobody thinks they can raise the funds to do it; Nobody thinks they have the skill sets to do it, and this latest debacle has reinforced this sentiment!!"
A couple of months ago JH/CTP had heaps of coal that will not be a source of revenue in the near future, a not too successful hole at O2, enough money for another couple of drills after JW1, were targetting oil, gas & helium and if none of those drills were a raging success CTP was probably a dead duck. Now they have the above, plus they have identified a definite oil field which they are concentrating on, have enough money for 3D Seismic & 4- 5 more drills. More chance of success with that than where they were before. If CTP find commercial oil JH will have more people up his backside than Julian Clary but if he doesn't, even Martha Stewart couldn't sell CTP to anyone. Always was that way & still is. People wanting a one drill wonderhole & an MD whose priority is "not hurting feelings" shouldn't be in this stock. I've said before that this is not about one drill & as long as JH takes whatever (legally correct)action is necessary to get more holes drilled then I'll let him have my money. I don't want him to be Martha Stewart - I want him to find the black stuff we know is out there before CTP falls over.
CTP Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
