To my way of thinking, not selling at 20 cents was a big personal mistake. If I had done so I could have bought back in today at 12,5 cents. But on your other issue, one needs to know something about how formal joint venture agreements are set up. When there are only 2 parties, as now with CTP and MB, any decisions regarding activity that costs money has to be unanimous. If one party votes NO, then it does not happen. There does not have to be a reason given for this decision. Operatorship is not relevant in that case. Alternatively, usually there is provision for either party to sole risk, but in the case of a successful outcome the non sole risk party either loses equity or has to pay a penalty to stay. For example if MB elected to sole risk, CTP would be in an unenviable position unless funds were available to participate. I have not seen the Joint Venture Agreement, and I am not saying that this is what it allows. I am saying that it would be very unusual if it was any different.
I do not understand your accusation of using fear in this discussion. The SoA is past history, the die is cast. All I am mentioning are some general avenues along which a possible future might develop. I am not saying any of these are a certainty, but to disparage is rather disingenuous. And as to likely MB actions, only they know. They may walk away, they may behave like good joint venture partners should, they may come out with a sweetened offer or go for an on market takeover if they want CTP badly enough, or of course they may turn feral. But given that their SoA offer at 20 cents was turned down, a second attempt at a low ball offer is highly unlikely.
It would be appreciated if one could raise and discuss serious issues without being made the subject of personal attacks and denigration.
All in my considered opinion.
CTP Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
