I am not associated with CTP yet I had cause to phone the company today. Conversation drifted to the loss of the two directors particularly Sarah Ryan.
Apparently she was our hardest working director and gave her full self to help the company with her knowledge and experience. Her technical understanding of mineralisation and business insights into the oil and gas industry proved to be of great value. She had the respect of other directors, management and employees.
So why did some shareholders vote against her? She wasn't even around when the Macquarie SOA was approved.
Will other high calibre independent directors want to join our board after seeing what happened to her?
Will the Queensland Government's perception of CTP as a low risk recipient of valuable new gas acreage awards be improved or diminished?
I am sure our Chairman and CEO can turn these perceptions around over time because they are professionals. But why are shareholders working against them when they are trying to serve our interests?
I don't like seeing the words "collateral damage" used to describe Sarah's removal because to me it is a disgrace we should all be ashamed of.
I understand some other people out there e.g. John H and Richard C have been removed in ways that they would have found to be personally hurtful. The SOA also upset a lot of people. But it is time for us all to be bigger than these historical events and to stop the self harm.
CTP Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
