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I think cerp was always going to be potters plan B, but that's just my opinion, because it was for him a good way to continue if things go .... ..
ATB
Morning Egg apologies I should of been clearer. Plan B was in relation to P1 or the Bahamas acreage in general. But as you say until we have a detailed analysis of what happened at P1 ie did they stop short because they achieved their objectives (working petroleum system found) or because it didn't look to good we won't know if they need to implement a plan B. It's always good to have a contingency plan though. I class the ex cert assets as part of plan A since the merger. By that I mean they were always going to try to increase production to 2500 by year end irrelevant of what happened at P1. Hope that makes sense.
Willibobs - ref your plan B - until plan A is known why would the BOD’s need to reconsider strategy?
Surely you can see in the acquisition of CERP gives the company plan A+ to run with and as per the companies RNS they are on with plan A+ as I type... some news on S2 would be helpful!
So let’s keep plan B out of it until we know the outcome of plan A+ Eh???
GG as much as I don't want to admit it, I find it hard to find inaccuracies in your post. I hope the BOD read these boards and see the depth of feeling regarding their strategies, especially lly over the last 2 years.
I'm hoping they have a plan B and it better be a good one.
I would imagine you've inherited the CERP portfolio jono............!
I, personally was adopted by BPC, so you'll see what I'm gettin at..........!
All the best (CERP it is then............... with P1 farm ........ :()
Shoukd have said data results "from p#1"
GG Think your post's hit the nail on the head and for a holder you are quite right to question
how and why things didn't go well for shareholders and should the bod be held
accountable.
If other holders feel that the bod have done the best they could after all these years thats up
to them but as there are no fund/institutions on the major shareholder list, (might be wrong
about that and if I am I'm sure I'll find out soon), who's going to change things. So looks like
Potter will stay on.
About the finance, it wasn't a great way to get it and maybe it was all that was on the table
but who knows.
deltalo I know everyone expects cerp to be producing 2500 by year end but just now it 400/500
and its niggling me as to why Koots let cerp go, but maybe he had his reasons, just don't
know. But no guarantee of revenue of £60m, so won't base my investment on
maybes,remember what p#1 was going to do.
NellyB only off top of my head but thought cerp, just before takeover, was valued about £16/17m
Happy if you can prove that wrong.
Drilling of the Saffron #2 appraisal well and the data results are some of the main bits of
news that I'm waiting on.
Good luck all have a good weekend.
CERP 84 - Gary, I share many of your frustrations and have vented off on this BB on a few occasions,, particularly around the poor funding arrangements and CERP merger, but I'm not sure what you are hoping to gain by continually berating the BOD?. In my opinion we need to give them opportunity to implement their contingency plan in the event of a non commercial p1 result, which I'm sure they have. The new couple of months will be key. Here's hoping for some positive news.
CERP 84 - Totally agree with you. Ive said my peace. Looking forward to good results as well.
Gary, I share many of your frustrations and have vented off on this BB on a few occasions,, particularly around the poor funding arrangements and CERP merger, but I'm not sure what you are hoping to gain by continually berating the BOD?. In my opinion we need to give them opportunity to implement their contingency plan in the event of a non commercial p1 result, which I'm sure they have. The new couple of months will be key. Here's hoping for some positive news.
Alb.
RE: GaryGraham
I agree with a few of the points in your breakdown of the Board members. In the 2months between October 2020 - December 2020 BPC did 6 placings. I was unaware of S Potters track record but it what you have stated is accurate then *shrugs* BPC is doomed *facepalm*
Jono44 - Potter has done nothing but feather his own bed. His one saving grace was hoodwinking Leo Koot into giving his company for nothing. I also believe Eytan Uliel and the CFO should resign. The reasons are simple. 1. Potter has brought no shareholder value under his tenure, lacks credibility in my opinion, and has drilled one well in 15 years which was not a commercial success. 2. Eytan Uliel should resign as the commercial director as his commercial deals negotiated I assume by him, have been nothing short of disastrous. The timing of the deals has been rank awful and the only beneficiaries have been the finance companies. 3. The Chief Financial officer should resign as it is obvious his financial reporting has not been of high caliber. I have a very strong feeling the company doesn't have a strong grip on its financial position and I really am being kind here, otherwise, it would not continually state those words "fully funded" so often in its RNS and apply for continual dilution at the expense of the share price. In football terms, we don't have Pep Guardiola in charge more like Graham Souness. Can talk the talk all day at presentations but when it comes to achieving results is relegation fodder. Anyone think any differently look at the share price staring at you right now. All in my own opinion. I respect all opinions. I am still invested at an 80% loss. GG.