Justin I have put a lot of time and effort into building an...

Justin


I have put a lot of time and effort into building an extensive operational and financial model of CTP's gas operations.


The prime reference was the SOA but I must agree with you that even with an extensive knowledge of the Mereenie field and a background in Oil and Gas planning it has been really hard going so I sympathise with others attempting the same task.


I provided the CTP chairman with an extensive list of questions through the formal CTP channel prior to the AGM with the stated objective of giving CTP the opportunity of using AGM to clarify many of the issues in shareholder's minds for once and for all.

Ideally this would have been done as part of the main AGM presentation.

As things turned out the AGM was closed abruptly after the formal business was transacted and I as far as I was concerned I was not able to put the carefully prepared list of questions to the Chair.


Although I am increasingly confident of my model I do not wish to convey the wrong impression to our valued HC posters one way or another and for that reason I am hesitant to publish its findings.

I understand that it has been suggested to CTP that they engage an appropriate expert to publish a suitable report on the transition from the SOA documentation to the current business plan and in my opinion this would be an excellent outcome.

A number of shareholders have expressed the view that issue has not been adequately addressed given the very specific nature of the SOA documentation.

I hold a strong opinion that oncerned shareholders (I am speaking about people such as myself) should not be drawn into becoming a proxy for filling in the gaps in CTP presentations.

My biggest issue is the apparent mismatch on a number of key issues between the SOA and the round number figures presently being used in post CTP presentations.

My own formal communication to CTP before the AGM left me in no doubt that they understand the gist of my concerns however I realise that I have no option but to respect their policy pertaining to release of information.


This leaves me pretty disappointed.


I have to say that repeated attempts to communicate with the Chairman prior to the AGM appear to have failed.


Hope this explains things


Best regards


OGP