Tomorrow is a very important day for us long term holders (5...

Tomorrow is a very important day for us long term holders (5 years in my case)
Time to take a stand! Time to make an unemotional decision on this stock and preserve ones dollars!
I have come to a conclusion on how my vote will go based on -

1. I have read every company announcement from CTP for 5 years.

2. I have personally spoken to JH perhaps 4 times over that period but more importantantly the last time was this week as I tried to gather info from all parties. I spoke to JH for 26 minutes and as usually found home open and frank!

3. I have spoken to CB from the rebels many times and understand where he is coming from.

4. It is no secret I spoke to Dalton at CTP and posted on CTP Forum.

5. I have also spoken to others at CTP who in fairness I cannot name.

6. I have carefully read the Boards position on JH and reasons for not proceeding with further drilling at Suprise.

7. I have carefully read JH position as reported by the board .

8. I have contacted CP office to get CP opinion on their intentions but could not get very far as CP himself is handling this situation and is overseas.

In relation to the latters intentions I rely on the way he treated Queensland Nickel staff in Townsville where I hail from after his buy out there. he saved thousands of jobs around Townsville and paid staff handsomely for their efforts after only one year of ownership!

9. I have researched Cottee,s past and on record achievements on the Net and Read CTP Boards statements

SO -

In total regard for my dollar investment and with no regard to emotional attachment to CTP or the individuals involved my decisions are -

1. John Huegh - This man is a decent person who founded the company had the foresight to get it where it is and finally found oil let alone billions of tons of Coal which I consider are potential CTL prospects.
His knowledge of every square kilometer of our Tennaments cannot be lost to the company. His on site reactions will the drilling companies especially at Surprise cannot be lost to the Company!

It is my firm view he must be retained by the Company in some capacity!!!


2. Richard Cottee - Without a doubt this man has a good track record as a "Salesman!" I DO NOT BELIEVE HE IS CEO MATERIAL,
And what is more I doubt he would want to be saddled to a desk doing CEO tasks!
This is not to say he should not be engaged by the company in some way but not at the expense of JH.
There has to be a formula for them to work together!

3. Clive Palmer - I as a Queenslander have followed this mans progress closely! He is no fool but likes to play the media for one and sometimes suffers for this in the media? BUT Clive IMO is just what CTP needs! He punts his own money into companies in which he gets involved ! My information is that he offered tondonso to CTP when the Board got scared and ran to Pattersons to get the last CR at our expense via diluted shares. Surely it was smarter to engage CP with a CR even if at a discounted rate to Pattersons if he was bringing additional capital to the company to value add and allow more drilling to produce cash flow as JH envisaged??

MY view is we must embrace CP and get him on board.

4. Camden Bob (the Rebelious one!)
Through the past 3 years I have developed a relationship with CB that has not always been friendly! ( Those who have been around long enough will remember the Bond years,)
But in recent times I have not only debated him on HC but have had dialogue with him "of air"
My opinion of him is that he is a very very dedicated shareholder of HC and a very smart man who is like most of us simply trying to protect his investment in CTP
Bob really is on the side of all who have a shareholding but like myself has experienced as a long term holder disappointment in the Board. For those who feel he is unfair to them I suggest they go to the trouble of checking all CB posts and they will see he like I did for some tome defend the Board but we have now ran out of patience.

5. THE BOARD - My disappointment with the Board began about two years ago and has continued mainly due to failed goals and rapid burn of raised capital whilst putting out announcements that don't come to fruition.
The most recent was claiming the access road to Surprise was completed when a staff member told me it was not and then JH confirmed it and then the Board finally came out and said completion had happened manny weeks later. This and past actions including their treatment of the company founder has left me cold!

I summary I would hope that John Heugh, Richard Cottee and Clive Palmer can reach some agreement to further CTP . The current Board has had their chance and failed IMO

TOMMOROW AND LET'S NOT FORGET THE JULY MEETING WHEN PALMER HAS HIS DAY WILL DECIDE THE COMPANY'S FATE, FORTUNATELY I think it will end up a win win for all (except maybe the current board members)

I see this company as a strong buy as the last few days amazing turnover on a rising price suggest!

Don


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