CTP 1.96% 5.0¢ central petroleum limited

Why are people voting against CTP?, page-59

  1. 741 Posts.
    Ravi, I rather think you kind of overstate the situation here. As Karll says, the main initiative originally was to plant trees and hire a few locals to look after them. I think you will find this was done as much for corporate PR as anything else, and it must be said that not much has been heard of this project for some time. Unless of course I have missed it. On the other hand, the 2016 Annual report, ASX 21 Sep 2016, in the Directors Report, it is noted that local employment is now 54% of the total with employment of Traditional Owners at 26 %. Elsewhere in this report it notes that as of 30 June 2016,. the total employee count was 83. Considering that Central is now operating Mereenie, Palm Valley and Dingo, this number is not surprising. Given this performance I do not believe for one minute it is reasonable to say that these employment figures have developed as an inheritance from the distant pre 2012 past. When in fact there were no producing assets at all and the staff involved were I guess office workers in Perth. We may not be overjoyed with the current performance of the board and the MD, but still credit where credit is due.
 
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