2020 Mamlambo Drilling Not Likely
Rumor has it that a royalty owner will not approve farmout of L6 Mamlambo up to 29 million barrel recoverable and will put paid to that ever happening under current corrupt and deceptive Board. It appears that if the rumor is true but who knows for sure, that goes for any farmout in over 1/2 of the Amadeus.
That looks like a blow to CTP coming up.
From rumor Farmout cannot happen without approval of certain people.
The arrogance of the continuing corrupt deceptive Mr No Comment Board has significantly overstepped its bounds it appears.
It appears that 90%+ of any wells that CTP have Operatorship fail miserably
Why would the shareholders want this board to Operate the 2020 drilling program anyhow. Just look back at last cost of Mereenie well failure of what they described as essentially a sure thing from converting 2C to 2P ! They don’t have a clue....
I was aware of this company years ago, but our CTP never mentioned royalties to be paid.
So, there is a lot they don't tell us.
I cannot see why such a company would with hold farm outs
at 8 minutes, talks about Dukas;
Maybe they are upset that royalties won't be coming in for years.
1% Overriding Royalty Interest
Area: 9,758 km2
Operated by principal holder Frontier Oil and Gas Pty Ltd (70%)
with minority interests held by Oil & Gas Exploration Pty Ltd (20%)
and Trident Energy Pty Ltd (10%)
Mr No Comment pays big time for the protection of his cohorts and the weasels no doubt have been following him for years. He left a bunch at CTP to ensure he doesn’t get sued by the company and that the shareholders don’t find out what he did during his shareholder reign of terror and to wait for the next best time to put a deal together to try to steal CTP again from the shareholders to personally profit. That is what his weasels are doing at CTP. Nothing else of course to benefit the shareholders. It appears a large number who voted at last AGM were either conned, not aware what was going on or just plain thick. So now, from the rumors ...certain Royalty holders will do it their way as they have the right to do it....amazing really. It appears they had enough with these deceptive con artists. This will be interesting with what I would say are likely far more experienced boys playing here ....and the best of luck to them...
from other site;
"Man of few words Leon Devaney said he was confident we will be looking at a vastly different (improved) company at next year's AGM. If CTP's stated plans come to fruition we would have to agree! There's some positiveness for you prato......... "
Wasn't the mr no comment the man who under promised and over delivered ?
Actually it’s our useless deceptive board Rawali which controls our company and not Santos. Santos are the Operator of the Dukas well and our useless board likely doesn’t have the technical skills to fight in a joint venture meeting or know how to sole risk drilling under the JOA. Besides why would our Board want to use their life style revenues to complete drilling or drill a new well? Remember...it’s all about our Board and what they are going to get out of it. I reckon they will sell us out to another cheap takeover attempt before Santos finishes with the Dukas drilling, in order to personally gain! This is the way it works at CTP and we have seen it all before!