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you and me, B
Absolutely Thebhoys fully agree, however they are not funded yet for the schedule they have in place. They still have to generate the funding mechanisms or reduce their schedule. We all wait in anticipation, however IMO due to past history I would bank on other companies being very cautious in dealing with BPC and therefore terms would favour the lender and not the current ailing shareholders. If they were cash rich or in a position of strength terms would certainly be in our favour. This makes matters worse because if they dilute there would have to be a large discount to tempt. Recent dealings just show how management incompetence and poor planning have destroyed trust and faith and with it the share price. If the company have got any gems in the tank then they really are not doing a sterling job in delivering them, I certainly will not waste anymore time on reading presentations or watching interviews as they are just a waste of time. A simple RNS delivering progress and not potential is the only way out of this spiral of past mistrust and failure to loyal shareholders. I for one just hope they can deliver a saffron result so I can exit. I have learnt my lesson.
Also shows that most of these mergers destroy value rather than delivery value growth. Cerp was valued at £25mn (most ex-CERP holders will still cringe about this number), and we are now valued at £29mn. So BPC added £4...just shows how LK sold us out. Terrible if you think about it and still some on here rave about this purple loser. People get what they deserve, I guess.
Kick the BOD out, get some hungry wolves on board and develop the assets properly. I don't want to hear about buying any new assets before these current clowns have proven they can do something useful with the current assets. Focus on the SWP, that will be more enough to deal with. And build the company from there.
Market sentiment towards our company is non existent.
As much as we read that we are seriously under valued and will be 0.8p, doesn’t seem to cut the cloth here.
Its the same old hype, hype and more hype.
I am sick of hearing we are funded for the upcoming work schedule.
The problem is, no one believes the BOD, they have the biggest begging bowl on AIM and keep coming back for top ups.
Let’s hope I am proven wrong.
After reading the threads today its clear why EU was looking for more "sophisticated investors"
Bloody kids on here
Actually the all share merger was based on £25.1million valuation for the ex-cerp assets.
https://vsacapital.com/?s=Columbus+energy
I think it's important to factor in that this was at the height of Covid first wave and depressed oil price....
As far as Cerp MC goes only the MC at the merger with bpc is relevant to me and that was around 18m which with the shares in issue today gives a value in the sp of about £0.0035p.
Until confirmation of funding availability to drill that won't have increased because someone thinks or says it has.
But thats only a value of ex cerp assets not anything that may be valued for old bpc assets.
But also until confirmation of bills paid, licences re applied for, what cash left if any or what cash needed to fund s2 etc ,can't add any value yet.
Just my opinion.
Starchild
“CERP manage £50m+ Market cap in 2017”
Is peak Kootlemania really a valid starting point for the comparison that you are attempting? Would it not make more sense to work with CERP’s 2020 merger valuation?
Lost in all this tripe is a key point: CERP manage £50m+ Market cap in 2017. BPC's today is substantially less despite
(a) BPC being more advanced than CERP with 2 fully budgeted (c$4m) spuds imminent,
(b) the punitive special petroleum tax is now @$75 PoO vs $50 then,
(c ) BPC is sitting on $85m in tax credits which is more than in 2018 and
(d) BPC has potential Bahamas monetization, whereas CERP did not.
I rest my case, but it's up to you to decide whether to buy, hold or sell. I've wasted 2 hours of bandwidth dealing with libelous comments based on nip picking rather than essence of meaning.
GLA
Starchild
I found the source in the accounts at companies house.
Round figures: SP peak 8p Oct 2017; 31/12/17 shares on issue 650m. 650 x 8p = 52m market cap.
All this fuss to attempt to discredit my overall research and my opinions!!!!!!
Starchild
Starchild
Sorry, that was a lot of text. Here is the second part, which hopefully draws an end to the matter.
RNS Number : 2049O
Columbus Energy Resources PLC
30 September 2019
For immediate release
30 September 2019
COLUMBUS ENERGY RESOURCES PLC
("Columbus", "CERP" or the "Company")
Total Voting Rights
For the purposes of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Board of Columbus hereby notifies the market of the following:
As at the date of this announcement the Company's issued share capital consists of 833,010,742 ordinary shares with a nominal value of 0.05p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with voting rights is 833,010,742. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Rossannan thank you. And Sept 2019?
Starchild / Bully1985
This is from my CERP RNS Vault. Hopefully you can both now move on.
Columbus Energy Resources PLC Issue of Equity, TVR
14/08/2018 8:34am
UK Regulatory (RNS & others)
Columbus Energy Resources (LSE:CERP)
Historical Stock Chart
TIDMCERP
RNS Number : 7274X
Columbus Energy Resources PLC
14 August 2018
14 August 2018
COLUMBUS ENERGY RESOURCES PLC
("Columbus", "CERP" or the "Company")
Issue of Equity
Total Voting Rights
Background
In the past year, the Company has entered into a number of agreements with contractors who provide services to the Company so that part of the relevant contractor's fee is paid in Company shares (the "Contractor Shares"). This has been done in accordance with the Company's ongoing cash management strategy and, more specifically, to align the interests of the Company with the contractors who are helping it achieve its objectives.
The relevant services up to 30 June 2018 have now been provided and therefore the Company has issued 1,079,986 new ordinary shares to those contractors (the "New Contractor Shares"), representing 0.166% of the 649,206,426 ordinary shares in issue prior to the issuance of the New Contractor Shares. The planned issuance of the New Contractor Shares was previously announced to the market in the Q1 Business, Operational and Financial Update RNS dated 9 April 2018.
The New Contractor Shares will rank pari passu in all respects with the Company's existing ordinary shares. Application has been made for the New Contractor Shares to be admitted to trading on AIM, ("Admission"), and it is expected that Admission will become effective and that dealings will commence on or around 20 August 2018.
Total Voting Rights
For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Columbus hereby notifies the market of the following:
As at the date of this announcement, and after the issuance of the New Contractor Shares, the Company's issued share capital consists of 650,286,412 ordinary shares with a nominal value of 0.05p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with voting rights is 650,286,412. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
1. prove the 650m at the time
2. how many shares were on issue in Sept 2019, when SP hit 5.10p?
https://www.lse.co.uk/profiles/bully1985/ accused me of a serious allegation …… ‘either [being] an idiot or manipulative Starfish. There has been masses upon masses of dilution in CERP since March 2018. You very well know this. The market cap of CERP was never £60-70million when the share price was 5.8p as there were a lot less shares in issue. I will be contacting the authorities regarding your blatantly false and misleading post unless you post a redaction……’
1. Refer to https://wallmine.com/lse/cerp, table on the right. 6 months previously on week beginning 9 Oct 2017, CERP reached a 7.98p high and closed 7.18. I accept there has been some dilution since October 2016 and March 2017, the exact amount unknown unless historical RNSs were available, however I totally stand by my key points: CERP reached substantial hights probably +/-£60m in 2016/2017 and the BPC SP is seriously undervalued as today, IMO BPC is further advanced than CERP.
2. Also note, a post that followed Bully1985 asked him if he has any shares was deleted. I assume he reported it. He does not have shares and gives no reason why he posts here. When he was asked the same question on 8/4, at 23:49 he replied ‘Nope’.
3. Note his post 10/4 13:17 on GGP ………..Any placement isn’t going to be hugely discounted and who knows where the SP will be if/when an equity raise is done. Keep some powder dry but I always find for good companies with a clear use for new funds, the share price rockets upon a week of the placing shares being allocated…….. ‘
Such a personal attacks against others crosses the boundary of a heated dispute and decency, added to witch ‘Starfish’ has obscene connotations which breaks the Ts and Cs of this normally decent forum.
I did not ask for his post to be deleted, but it now has. As several people read his original, I have the right to a rebuttal. Hence the above.
Starchild
What’s happening here ? Is that p... still here (Irene)
Fully budgeted, remember Fully funded until it wasn't time after time. Stop with your propaganda postings ad you do more harm than the good you think you do
SC
So now your saying fully budgeted, no contract signed I take it.
Bit of a difference.
Not a buy for me yet as too many unknowns.
This is a very rare 2nd detailed post on the same day from me. Firstly, the background……
Refer to the Sunday 11/4 12:26 post by https://www.lse.co.uk/profiles/rossannan/ . He referred to h/er attempted ‘stunt’ from 23/3/2018 which I will quote….. ‘Gentlemen and Ladies: Your positive reaction to my absence from the BB has given me an idea. Would you like the chance to make it a bit more long term? If you would, just follow this link: https://mydonate.bt.com/fundraisers/rossannan [....my interpretation: ‘give money to a charity of my choice and I won’t post negativity for a while’ ]
Rhetorical questions:
1. If someone appeared in court for robbing a bank, would a valid excuse be….. ‘but your honour, here is the undeniable proof all the money would have been given to Save the Children in Africa.’
2. If someone appeared in court for shoplifting £100 worth of toys, would a valid excuse be…. ‘dear magistrates, here is the proof the toys I took from Tesco would have been given to a local charity specialising in Christmas presents for children in need.’
3. If someone offered to stop posting negativity on a share discussion forum in return for payment to charity, is that not the equivalent of a SHAKE-DOWN albeit by a self-professed Robin Hood? Is it not the equivalent of saying,…. ‘give me money for charity, and I’ll stop attempting to influence negative sentiment which could result in your shares losing value?’
4. Hypothetically, if I invited 10 posters to PM me so we could concoct a plan to simultaneously bombard negativity on 10 LSE BBs for a week and then propose a shake-down for a noble charitable cause…. What would likely happen?
I allege persons who attempt such stunts, have lost their moral compasses and risk prosecution. I am surprised CERP did not formally complain to the authorities.
Why the SP should be at 1.25p+:
Note the time stamp of the 2018 post
rossannan
Posted in: CERP 23 Mar 2018 10:20
Posts: 6,706
Price: 5.80
Note the CERP share price at the time, 5.80p (c£60m market cap) and note today BPC’s Mcap is half that, despite (a) BPC being more advanced than CERP with 2 fully budgeted (c$4m) spuds imminent, (b) the punitive special petroleum tax is now @$75 PoO vs $50 then, (c ) BPC is sitting on $85m in tax credits which is more than in 2018 and (d) BPC has potential Bahamas monetization, whereas CERP did not.
Conclusions: IMO, based on previous patterns, the BPC SP is seriously undervalued today and should be in the 1.25p-1.40p range (£60m -£70m Mcap) until the S2 spud result in June. Which is why IMO it is a STRONG BUY. I didn’t make this up.
IMHO. DYOR. GLA.
Starchild
https://www.lse.co.uk/profiles/starchild/