Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The CERP acquisition proposal is admission by BPC’s directors that Perseverance will not be drilled anytime soon. The risked upside is so much greater In Bahamas than Columbus In Trinidad that Its crazy to buy such a rag tag company without such an assumption.
And his father smelt of elderberries right?
Cumon seriously quit the diatribe. I have never seen so much bumf posted on a BB. I’m in at +3p, I’m not worried. What will be will be. If it goes to the 1p range I’ll top up, simples.
I don’t know what the aim is of all this back and fourth but it’s just an annoyance to be frank, I don’t think it has any impact on SP what so ever. So good luck with whatever it is whoever is trying to achieve.
Muel
Can we just have 1 day where you lot don’t bicker please. It’s getting old.
Bully touting his cra* again guys. With your team of people May I add. And yes share prices can and do go 8,000% on oil finds. Especially when it’s up to billions of barrels. Ahhhh is your short bet still not paying off? Diddems. Perhaps you can find another share to deramp or tell your team to go elsewhere. You must be really struggling here.
Bully: CEASE AND DESIST twisting my words. Your posts were totally misleading (and were torn apart) implying:
1. there will be 5.5b shares (over 100% dilution)
2. Wrongly stating 500m shares were needed to repay the CERP Loan, when the figure is approx 80m
You and a small team I allege, are colluding to wrongfully attempt to manipulate the SP down.
Karma
Pump: I have addressed it, or I should state, BPC has. Refer to my post last week 9/7/20 3am UK time. I copy it below.
Are you also accusing me of lying on this forum?....................
Key extracts from the BPC email Nimp01 ('Mr Robbie') presented at 10:44 8/7/20 is below, with my commentary in [ ] and my use of caps.
''In addition to these [already announced] specific financing arrangements, [ $11.4m, £10.25m, £16m] the Company retains the ABILITY TO UNDERTAKE AN INSTITUTIONAL INVESTOR PLACING with its corporate brokers and continues to hold discussions with potential industry partners in relation to a potential farmout. A more detailed review of the Company’s funding strategy can be found in our market announcement of 26 May 2020 [refer to STENA 10% option]……. Importantly, ACCESS to these finance options provides for the funding necessary to execute the well at the end of 2020 / start of 2021, and provides a “benchmark” against which future funding opportunities will be assessed in terms of cost and dilution. To the extent that funding options considered more advantageous become available to the Company, these can be pursued as an alternative to or in parallel with the above, so as to ensure the well is funded on the best terms (least cost/dilution) possible……Implicit in the above, and as stated in all of the Company public announcements to-date regarding funding options and farmout discussions, is the fact that the financing of the well will result in some level of dilution, at either the asset level (industry partnership/farmout) or corporate level (facility/equity finance)…….[and CERP assets] ''
[My view of the email……]
There is nothing in the email that is not already in the public domain. However BPC has practically guaranteed the spud for Persv-1 will happen and spelt out various probable and possible funding options:
1. Farm-out to 3rd party
2. Stena JV
3. Industry partnership (eg, ‘pay for the spuds and you can have xx% of oil found’]
4. Corporate facility (eg ‘lend us $30m for 3 years secured on BPC/CERP assets’)
5. Institutional investor placing (eg, BONDS). Refer to https://financial-dictionary.thefreedictionary.com/institutional+investor )
6. Equity finance
7. CLN(s) (the ‘benchmark’ WORST CASE scenario if (a) Merger doesn’t happen and (b) 1-6 doesn’t happen.
Key takeaways an opinions: there are various funding options on the cards post merger. All cause some dilution whether to future profits, dividends or shares. However the bigger our market cap, the less this will be. The BoD will leverage the best deal for shareholder value. The spud will happen.
That's my view. Your views will be welcome.
Starchild
Star,
I see you have been called out again.
Why don't you stop the allegation spout and address the dilution argument?
It looks terrible when you keep posting ramping messages but won't discuss the other side?
IMO
According to recent news articles including this one http://www.tribune242.com/news/2020/may/26/bahamas-facing-eye-popping-100-debt/ Bahamas national debt is heading to 100% of GDP. This generally fiscally responsible country has had to deal with a devastating hurricane and Covid-19. The country does not have the EU to help bail it out (eg Greece c170%). Furthermore the Bahamian Dollar is pegged to the USD, so they can’t devalue without a paradigm shift in monetary policy.
If BPC spuds a middle eastern size well 1st quarter 2021, and the reserves are PROVEN a few weeks/months later, it will mean the following:
1. Dependent on PoO, the size of the proven reserves and quality, the BPC SP may eventually soar to well above the analysts predictions of c30p or $1 in market cap per barrel. That’s just the beginning otherwise institutional investors and PIs wouldn’t risk to buy at >30p/share to make a measly 10-20% profit. They will buy for the medium to long-term (a few months to 4 years) to make a serious ROI from future dividends or an M+A, or farm-out to a big oil company.
2. It will also mean the BGov can, to a degree leverage lower interest rates for its debt (from the c25% future royalties BPC has to pay), in the same way a 27 year old can probably go to a bank and leverage, to a degree, borrowing against a mega trust fund which kicks in on his/hers 30th birthday.
The BGov wants the spud to happen as much as we do.
Starchild
xxx