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Zebra.................."Chesh you can't even defend your own investment and detract to posting about another company. Discussion is on cerp."
"Bradley I wouldn't waste my time on his nonsense. He wants a low entry point so that he can sell his cerp shares and move over to here.
Backed the wrong horse."
Wow......... interesting, when a placing for c$5m is imminent ..........:)
All the best (you can take heat 30% :)
oh.............. your here still Zeb.........! :()
I've replied in your house...........!
All the best (looking good mate :)
I agree Tiburn BPC have got very good tech guys onboard. I I’ve been invested in BPC for a couple of years but when merger was announced bought into CERP. This was purely on the basis of L.Koot and the fact that CERP has more to offer as a company than BPC. If the merger goes ahead great if not I’m equally as happy. I do believe that this merger is the tonic BPC needs. We shall see eh!
Chesh you can't even defend your own investment and detract to posting about another company. Discussion is on cerp.
Market is not expecting a placing over at prd. 2 have already taken place raising the share count to 240mil. Yet you do, shows how clueless you are. 1 to fund drilling and 1 to pay off cln.
The continual issuance of shares to lind may as well have been a cln. They obviously dump the shares to get paid for thier work. Meanwhile the share count climbs ever closer to 1 billion and existing share holders get diluted. Making the recovery that much harder. Another crap deal lk spun to shareholders. How many millions of shares have been issues to lind by now?
@tilburn, there's surely an upside but with so much dilution the upside shrinks. Getting a new offshore well to production will take many many years.
Its gone from cerp investors waiting many years for something to happen here, to now waiting for something to happen at Bpc.
Irene taught me the non-number zero LLL................. :()
welcome back........... :)
All the best ($4.2m is documented, your take isn't :)
"even Bully voted no, but with zero shares"
That makes zero sense but you have problems with the number zero as Irene discovered.
"get ya $4.2m together and brass us up...........!"
The fictional (IMHO) $4.2m was, and always has been in my opinion, a carrot to rope a dope and there's been plenty of those investing in LGO/CERP over the years.
More so...............!
get ya $4.2m together and brass us up...........!
All the best (placing title on PRD again...........? :()
A couple of booboo's there Zebra, the main one was addressing me, whilst also mentioning me in your address............. :)
but that aside........... who mentioned shorting........... ?
All the best (other than yourself :()
Its true its one drill for BPC, but also true it has ten reservoirs targeted in intervals towards TD.
ten rolls of the dice, each of which has an average 35% chance of success.
The downside has been fully explored here for sure, but what about the upside? this is a middle eastern scale target - regardless of the ten years to get there (no argument there, but many nuances not in BPC control) its unheard of for a minnow like BPC to be able to go for this scale of drill alone, a superb positioning move to get this funded by various means and eoth a top tier drill team sourced and onboard. Like the merger or not, if this does come in CERPs money issues are a thing of the past, expedite Trinidad production in the interim period before the drill and that's the case aswell.
@chesh none of that matters since the board wants to merge.
S1 they have results, s2 funded. 1.75mil from prd could have been used to advance cerp other projects. Unless they are all duds. Or simply the board find it to complex and challenging.
Instead the board rather put all thier bets on Bpc single drill. Bpc have spent the last 10 years trying to drill their well. Post merger they'll spend all the time doing the same as cerps assets are forgotten about.
What's worst is all that promotion over the past two years. Lk sold you all snake oil, he was very effective at it. Posters like willec and chesh are hooked on it, despite the writing being on the wall. They will tell you to ignore anyone who posts something sensible as they want others to share in thier losses.
Nobody is shorting this stock, (ridiculous of rampers to claim this) it's such a low mcap/volume that shorters wouldn't waste thier time.
Also Tiburn............."complex technical challenge CERP faced in Trinidad"
.............. breaks on, read your reply as I replied...... :()
Saffron being the best case technical achievement fosho.............!
S2 gonna nail that LC........... and boats (bouys) out to sea............. :)
All the best (the cash cow that we are will pay up :)
Chesh
BPC have some good technical guys but not sure if they are so vastly better than CERP team they can materially enhance or progress field development, i think that's mainly gloss and spin personally.
What they say they can bring is potential access to more capital, and that will be spent on CERP assets, not in Bahamas as the Perseverance drill is funded.
If merger goes ahead, then the new plans could be substantial with more cash spent - Saffron needs $3m to fully develop, My own view is that this would happen early.
gla
Tiburn............."complex technical challenge CERP faced in Trinidad"
specifically Goudron, on the webinar the BPC's CCO Eytan Uliel told us that previous experience of on shore management of fields is their secret to unlocking the oil (sands) at Goudron............ !
Perhaps a little unfair, given he did say it was technically out of his scope, but.............! can they manage Goudron into profit, on the back of a renegotiated IPSC from our "Tony"........
All the best (experience is one thing.............. Goudron is another :)
To be fair to LK he does show the good bad and ugly aspects of ongoing works - what I get from this is some understanding of the complex technical challenge CERP faced in Trinidad, plans change constantly and have to adapt to circumstances - this isn't a linear progression - problems and work rounds cause delays and funding issues to pay for it are a constraint.
If the strategy is sound and staff are technically proficient then its more the direction of travel that's important for me, rather than hitting milestones set before understanding all aspects, these are surely emergent - a geo model or seismic can only go so far, drilling counts for all.
So plans change and have to adapt, shareholders have to adapt as well or sell.
so is the merger good bad or ugly? there are some PI in all 3 camps, but for me its to the good.
Hey Irene.........................!
You actually join the BB 5 days after our "Koot" took over............ :()
All the best (and I'm no stalker :)
I agree in general with Ramman and Razorman.
Do I believe in the CERP BOD, not really any more. I DID, I was in it for the full 5 years and more and even though, like many other on here, I never believed that I would get back all my losses from the old LGO days, I trusted LK and co to at least perform on their own promises, since when he has defaulted time and time again missing promise after promise.
Why am I still 'invested'? Because I am so far down that it makes very little difference in % terms, but I see no reason why the BOD should come out of this as the only winners and we are left exchanging one forlorn hope for a different one. LK supporting this thinly disguised takeover is the best reason I can think of for not going along with it.
Hey Razor..................
No doubt this merger came as a shock, specially after the Saffron gusher....... :) and S2 freebie............!
but, certain global pandemics happen, and did happen. Which for us, changed the course of the co. (roadmap)............ best way out.........? I don't know.......! but I've backed the BOD, Bully did back the BOD previous to this, and sold. Bamps, neon, some others fosho also. Voting against this IMO, is going against your own investment............:( IMO
All the best (and the very best of luck to you :)
So you believe that the BoD CAN turn it around - but you don't agree with the way they want to do it?
Seriously, this makes very little sense.
Razorman ,my sentiments exactly.
Pau10z - im the same as RAMMAN, voted against. Selling up and moving on would realise the loss, so i choose to ride it out or ride it to the very end. Shareholders are angry because of the poor performance to date followed by the throwing in of the towel. I don't want to allow this flaky BoD to walk away. In the event of a no vote I expect the BoD to return to work. I expect them to work dam harder to turn this company around - or show some accountability and explain to shareholders why it is not possible. If it isn't possible i want to understand why considering our assets and the values CERP and VSA attributed to them! They have an obligation to stand by their commitment to deliver on their 3-5 year plan.
Then what on earth are you invested for @RAMMAN!?
Is betting your (presumably) hard earned cash on a company effectively a resounding YES to the BoD? Yes thats a simplistic view - but damn right it's the logical one.
Don't like what they're doing - ship out and find something you actually believe in to invest in?
I can't believe this is even a discussion point.
RAMMAN......your vote counts, but it does go against your investment IMO............!
even Bully voted no, but with zero shares, hence his constant presence on this BB trying to justify his sell to himself............!
All the best (I kinda agree with Paul1Oz.......... naive as I am :)
The most naive quote of the year. Many a CEO and board of directors have screwed over their shareholders - the list is to long too print. Just for the record I voted no with 3.5 million shares.
Anyone who see's it fit to post negativity about CERP, BPC, or vote no to this merger, should not be here. Why would you invest in a company but not support the BoD's directio? Lunacy.