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Willi - XXXXXXXX
Apologies for the last line. Should of proof read my post.
I agree Bryn I also see valid arguments on both sides and I think it's important to take a holistic view of the merger situation until we have further updates.
Jim is right to question the dilution and business case as this could potentially change his attitude to his investment strategy.
Personally I think things will be unfolding behind the scenes that will hopefully justify the merger and explain clearly how and why it will be not only cost effective but provide positive cash generation for the drilling of P1 that will be preferable (cheaper) to the funding we currently have on offer.
As it stands at the min the merger leaves lots of what if's that need answering. it looks like BPC carried out due dilligence and said, yeah we can increase production of CERTS current assets here and there sufficiently to satisfy requirements set by potential institutional investors who are sat waiting.
They haven't took this decision on a whim and must of liked the business case that was set before them during merger negotations.
Hopefully we will be told what that business case is in the near future to satisfy and explain exactly why the merger should be voted in. That includes anwering the valid and relevant questions asked by Jim and others.
IK you never put kisses on my last post like you have with others and I have never tried Amarone!
Am I in for a treat?
Hopefully more news before end of next week. Good luck everyone, stay safe and look after each other.
As it stands at the min it looks to me like BPC have
..the arguments of good or bad deal will keep bubbling away on opinions which are poles apart.
Let us not be getting personal, particulalry the young guns in here who do not know the posting history of some of the long termers here.
I see valid arguements on both side - however - until that update comes along which informs us all what the heck is going on then we are blind. I am not keen on being led blind and whilst I may have made my mind up on the little I know, I would rather make that decision having been educated by means of an update.
Stay safe all - I do look forward to hearing this week about the proposed deal(s) in order we can all move along nicely to a slap up meal of beef and horseradish sarnies washed down with copius bottles of Amarone courtesy of IK. ;@)