Same here, 3/4 of my holding sold, luckily at some profit but not near to what I was hoping for. There is more value to be had elsewhere, with the risk of cross posting, may I suggest y'all follow RC!
I have been in this stock for over 5 years, I recall a number of HC contributors being insistently negative about CTP in the past. I ignored them, deemed them to have a different agenda to mine, grievances being carried by them. All to their own, but have to admit that this ain't going anywhere soon, or longer term.
I have to admit, their CSG project looks ok, the exploration program looks ok (though I doubt they will find a farmin partner, postponing the closure date is not a good sign), and the infill drilling/completion is ok as well. But note that all of these plans have existed within the company for over 5 years. Nothing new, the drilling and completion plans where ready on the shelf. CTP has not moved forward in any measurable fashion in the mean time. Sure, Range is ok, but for heavens sake, look at the maps, it's like shooting fish in a barrel.
The improving, positive, gas market, the focus on stepping away from coal, the political climate supporting gas companies and their exploration and development plans, what is wrong with this company, why can't they make this work.
My only conclusion can be a lack of leadership. The technical guys are great, some of them I know, but apparently severely constrained in doing what they are good at, finding stuff. But hampered by a directionless and unimaginative leadership and bod.
It is time to move on, there are green pastures elsewhere. ( But still enough shares to justify future contributions to this forum
CTP Price at posting:
11.5¢ Sentiment: Sell Disclosure: Held
