"Commitment] to what was said several months ago has changed direction eg'; keep operatorship of land "
Santos may have insisted on being an operator. CTP is a weaker partner and may have to concede. Keeping in mind, losing the battle to win the war.
Santos is far more experience than CTP in terms of operation. And it makes sense to have the better company do the job. It is call synergy.
Santos has the expertise, people, and equipment to do the job. It can call on those resources during slack periods, thus bringing down the overall cost of exploration and stretching the $150m further.
I am sure others can give another dozen reasons.
Strategy is a plan of action. Management is committed to that strategy unless deviation from that plan is justified. It forces executives to put up reasons and numbers. Critical analysis is therefore forced upon them. IMO, that makes RC a great manager, rather than a dogmatic, stubborn, mule-like approach.
CTP Price at posting:
80.0¢ Sentiment: LT Buy Disclosure: Held
