T.P. IMO those two words will determine how the market will interpret the ongoing future plans of this company. NEW TEAM!!!
This company has been continuously dogged by cynicism and scepticism for months, certainly aided and abetted by several issues that supported those views. The most popular belief that has resulted from all of that, and obviously supported by a very large number of HC posters, evidenced by the number of TUs that those posts have attracted, is that CTR is just a vehicle for certain people to make a fortune (at the expenses of shareholders) and that being an oil producer was just a means to that end.
And there have been a stack of "developments" throughout these past 9 months to fully support and give credibility to those allegations. In fact, the way that the last 4 months have evolved has provided a near perfect scenario for a classic "sting" to occur that we have constantly be warned about.
But, it didn't happen when that great "opportunity" was available and I still say that IF any such plans were even contemplated (I don't subscribe to that) the smashing of the SP to .001 Buyer made that impossible. (Who was at the helm of RRS when that happened and where is that person today??!!)
So, we were all waiting for THAT ann, that we eventually received after the close on Tuesday, which, in itself, didn't relieve all of the scepticism. RRS are still very much into CTR and how much longer that is intended is anyone's guess and will remain a target for further speculation and conspiracy theories.
BUT, back to those two words, new team. IMO, the identity and qualifications of that "new team" is absolutely critical and will certainly influence my continuation or otherwise with my first bet.
IF the new team comprises more corporate lawyers and/or financial whizz kids, I'm out!! Period!!
That will confirm to me that the views of all the sceptics and cynics will prove to be correct, CTR will be just a financial vehicle for "the current team"!!!!
BUT, IF the new team includes O&G professionals, with extensive experience in O&G with reputable O&G companies, then, that would suggest to me that they are getting serious for CTR to more than likely be run as an O&G company.
That being the case, they now have funding to complete A#5, which, I am extremely confident will be a commercial producer, and soon, moving on to the two Tortugas wells, and who knows what will come from Texas (although I am not putting too much emphasis on that and at best, I will be pleasantly surprised). CTR can, quite easily and quickly, just from Guatemala assets, become a solid producer and definitely a suitable vehicle for long term future oil development and production.
The sooner that we learn the identity of that "new team" is now the next crucial revelation from management that shareholders should watch for with extreme anticipation.
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