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Bigwod, the last RNS stated 30-45 days so no excuses, lame or otherwise, are required just yet. Nobody on here knows when the next RNS is gong to be and what it will say. More patience is required, IMO if we were going to get an update during drilling operations we would have had it by now. I am happy to wait for the one big announcement at the conclusion of the drilling and the gathering and analysis of all data. Next week maybe or the following Monday but nobody knows, just a mater of wait and see- how exciting!
LayLadyLay - just because I've recently compared you favourably with the wannabe trolls doesn't mean I'm not going to critique your performance!
Those who read the funding rns carefully would know the Lind threshold was $25,000,000 not £25,000,000 so that the cushion is a bit fatter than you may have wanted people to believe. The threshold appears significant for the further tranche borrowing whereas under the BNP loan the covenants applied from the outset and left them calling the shots over management when Ritson ploughed on regardless with non commercial drilling.
Having said that if Saffron is a duster I would expect further softening of the SP so that Suriname would likely be financed by a Placing . At the moment no one knows - you seemed to be hinting Schroders knew something but it seems their selling is more down to Corporate Strategy !
We all wait and see now - a decent result here should lead to a much easier ascent to new levels of MC!
Rugby - well done for persisting with Krapp - you've clearly exposed her position ( or failure to take one haha !) - she lost credibility as a rossannan acolyte and doesn't have the confidence of Ross or LayLadyLay to come up with anything stimulating to troll this.
The trolling is of such low calibre from the double act of Irene and fish I doubt that real trolls would even recognise it as trolling - it certainly is less than purposeful.
Rugby - don’t bother interjecting with the Dimwit Deramper Dimwit Dunces - they are not worth it... Just make them unreadable and FILTER their a r s e s ..... They ain’t worth it.... they speak absolute unInvested Twaddle !
GLA LTHs ..... NOT LONG NOW TO THE FIRST OF MANY STREAMS OF NEWS!!!
Sorry Irene, I can’t ask my question in more simple terms and have even offered you a 1 word answer but you are still struggling to answer. Question - in your opinion, at 3p is Cerp a buy or sell? Answer - either buy or sell! Communicating with you is pointless but I won’t filter you as your constant negativity and ridiculous questions to other posters, usually down the line of ‘ how many bopd or how much revenue would you deem to be a success?’ actually humour me whilst we wait for news. All on here can see you for what you are so no further comment required from me.
I am not amazed anyone can have a different opinion to mine, I did not say that, where did you make that assumption from? . In fact , I haven’t canvassed anybody else’s opinion on the matter, except yours but you seem too shy to do so, why is that? Come on Irene (I nearly broke into song then) - do you think at 3p Cerp is a buy or sell? A one word answer will do, heaven forbid if you ever attempt to explain your reasoning! .
Interesting to see that PRD has risen from 3.5 to 5 on the buys over the last 2 weeks and cerp share price has fallen since its recent highs. With the C02 project starting in 4 weeks time, maybe people are now jumping in to PRD while the price was low. Just surprised that CERP is not also going up, Dont forget , CERP have more to gain from the C02 project
The sp is looking very weak at the moment and any prolongation of the news blackout on Saffron could see this slip below the 3p mark. It seems to me that if there is any positive news at Saffron then this should be conveyed to shareholders without delay even if it's just in general terms. Either they have found some sections(s) of oil pay or they haven't and if they have what is the likelihood of this being commercial? Shareholders need to know what's occurring, if anything, at the drill site.
LK has talked about his willingness to say it like it is and give you the good, the bad and the ugly. Radio silence tends to suggest the latter as surely good news would be announced without delay in order to shore up the sp which is critical in maintaining the minimum MC defined in the Lind loan agrrement. The current MC is only just above the minimum threshold set by LInd and continued decline could see CERP unable to make any further drawdown on the loan facility unless Lind relaxes the conditions which it may not agree to do. Remember the BNP Paribas oil swap deal back in the LGO days?
It seems to me that the Saffron result is geared to negotiations on the possible extension of the Goudron IPSC as any extension would include a minimum work obligation and CERP needs to be sure it can fund the required capex before committing to renewal conditions. That would explain why a decision has been put off until the new year.
Good luck to those who have been here years waiting for the SWP to be the gateway to the future. One way or another I think it will be a crucial element in determining the ultimate fate of the company.
Irene, firstly my name is Rugby not Rigby, secondly, my question which you have reproduced was directed to you in response to one of your comments and was not a question for the board. All you have done is rewritten my question, how about supplying an answer. Or better still answer this question - as the SP is now 3p and the drill results are probably less than 2 weeks away, in your opinion is Cerp a buy or a sell? Anyone can be a smart arse after the event pointing out it was ‘obviously a buy or sell’ but how about offering your opinion without hindsight? IMO opinion Cerp is a strong buy at 3p and my average is much higher but I have confidence in the skill and experience of the board to deliver a very positive result. If I am wrong I lose money but if I am right I will make money. I think the board agreed (up until recently ) to take 50% of their salary in shares because they believe this is a winner but how about you Irene? Straight answer requested!