thoughts on current events, page-8

Welcome back Sav-J - good to see you here again.

Comment 1 & 2:
The 'evidence' suggests that a third party is very, very keen to do a deal, but that JH has been blocking it (or at the least negotiating strongly, to the extent that no deal gets done!). I've mentioned before that it seems likely he would not want to give away the 'family silver' (I'm sure that's how he regards it after putting life & soul into the company for so many years) for less than he thinks it's worth.
JVs have been on the table/imminent for a long time, but nothing has actually come of it. BG walked away remember? I wonder why?
But the real question is, what do the shareholders think the family silver is worth? If the shareholders (who are getting very bored of yearly cash calls, let me tell you...), think it's time to sell off some of the silver, and realize some value, even if it's not full value (how many trillion bbls keeps getting regurgitated in the presentations?), then the board needs (is compelled) to act in the interest of those shareholders.
If JH had a 15% or 20% personal stake in the company, I'd have more sympathy with him, but as it is, he's pulling down a huge salary every year, operationally over the past 3 or 4 years it's been a bit of a mess (I'm being polite), and currently there is no light at the end of the tunnel for shareholders (If I was earning $475K a year as an employee of the company I would be in a much happier position).
The shareholders need a JV. Sooner rather than later. JH has been round the world several times trying to 'sell' the company. Strangely, with no success. He hired some no name spruikers to try to sell the coal...how long ago? The company needs some cash, or someone who will pay for the drilling (or buy the coal, which IMHO is a questionable asset).
It sounds like someone wants to play ball. Let's blow the whistle for kick off.
FWIW, I also think losing JH would be a huge loss to the company. There is too much knowledge and passion there to lose. But if it at the expense of moving forwards at a pace that the shareholders will accept, then so be it.

Comment 3 - alternate directors. They are all heavy hitters. I think this would bring a lot to CTP, if any of it based on fact and not just the normal BB fairy mist.

Comment 4. Of course they were told to publish this. And let's be straight... the comment is: "but with the removal of the impediment to farm-out and operatorship"

Comment 5: Agreed wrt seismic/drilling. But I'm sure any interested parties have already done the numbers, not convinced an agent (who just takes a cut of our shareholder's $$) is needed to negotiate the deal. But then again, if JH won't, then maybe that's the best option. FWIW I was also dismayed at the idea of buying a rig - Unreal.

I suspect the vast majority of (longer term) shareholders will be much happier within the next couple of weeks.