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Evening all..........!
Irene " we asked you to name one..........", Freudian slip up......? in front of boss Ross as well.........!
All the best (says something when Ross comes back to buy / I mean haunt ;)
5p thought is a good st target with oil prices increasing, deal of a merger great news, producing oil at SWP and prospects looking good post merger.
OK, here’s hoping the outlook will be improved with either outcome. I’m confident the SP will be up tomorrow. The problem is there is a lot of ground to claw back...
c10:30hrs - 12:00hrs. Depends on the length of Court Meeting (10hrs) and General Meeting (10:15hrs)
Pointless conversation.
When do we expect to hear the results of the vote tomorrow?
how about the one which said I would buy more shares when it goes below 2p when the sp sat at the recent high before merger talk of I think 2.4approx. I have bought a **** load under 2p in fact about 1.8p on average. Still no congratulations for my 100% made on Rock. I suppose your investment portfolio consists of various piggy banks. Is it one for copper, one for silver and the smallest for pound coins. Is your strategy to try and fill them by christmas.
Starchild
I take your point about the potential trading opportunity. That of course depends on the post-merger picture (re funding, timing etc.) being as painted by BPC, on what the likes of Schroders and Trafalgar do with their new BPC shares and on the point at which retail investors who are not up for the endgame start opting out.
But crucially it will all have stopped in any real sense being about the former CERP assets. This is a pity given the amount of time and capital that has been spent on them. Whether they would have begun to deliver some kind of return for CERP’s long-suffering shareholders was probably largely down to the oil price and the T&T fiscal regime, but many of those shareholders clearly feel that the CERP BoD has quite shamefully chucked the existing, albeit heavily revised, road map out of the window and taken the wrong exit.
If the merger goes ahead, as it seems it will, it will really all be about the BPC assets. The long-suffering BPC shareholders have spent many years getting a feel for that situation, but the CERP shareholders now have to start all over again as new BPC shareholders. Meanwhile the clock is ticking.
Rossannan: Your points are very valid and have been discussed at length on both forums since June 11. Many CERP shareholders eventually saw the potential and have stated they will go with the merger and sell as BPC goes to spud as the SP is likely to be far higher than CERP's ever would have been in the next +/- 6 months.
Others including me are happy with the 1 in 3 mega gamble that BPC will hit gold and the 2.5p current price will soar to 20-40p. In my opinion because of the CERP merger, if BPC spud is inconclusive, using an even worse scenario that no good news flow is generated from CERP assets this year, BPC gets another chance to succeed. I see it like gambling on the row of a casino roulette wheel. But instead of losing the bet in full or winning x3, we can win x10-15 with a free bet on the house (because of CERP) if the 1st bet is partially lost.
Only you can make the decision based on your investment risk criteria. About to go out with my better half.
Starchild
Starchild
CERP is small because it has an appalling track record, but as you suggest it is nothing like as risky as BPC - it has always managed to trundle on somehow by tapping its shareholders or the likes of LIND and it benefits from having a retail following that will seemingly put up with almost anything. There was at least a plan, even if it was not entirely credible.
How does the proposed (and probably now inevitable) switch into basically piggybacking on BPC’s big gamble make sense for CERP shareholders? Does it not seem to you that the CERP BoD are just giving up and taking a punt rather than doing the hard work of following through on what they had previously committed to?
Irene, to 'suspect' or opine is an opinion based on rationale observations and research. To state as a FACT something that is not, is FAKE news. Disagree with me, argue with me, but don't question my honesty and integrity.
You have no right to be on the CERP or BPC forums as you have practically admitted to having no shares. As such your only purpose appears to talk down the SP for personal gain. This I suggest does not show integrity on your part.
Have a nice day.
Starchild
To IreneKrapp, LSE’s majestic de-ramping mermaid princess:
In celebration of the BPC/CERP merger, my wife and I would like to invite you for a seaside picnic. If you could swim to us I would greet you with open arms and then grill your delicious fish tail on a huge BBq with a virgin olive oil, garlic and lemon dip, accompanied by an exquisite Chablis Grand Cru. Yummy. Painless surgery by a mermaid doctor will enable prosthetics (a pair of plastic flippers) to replace your tail, so you can join us. This gourmet feast would also apply if you were a Merman. Ps: Is it possible I can ride you for 30 minutes in the sea prior to the tail removal procedure? Thanks. RSVP
[I wish to thank our generous sponsor Majestic Wines plc for funding this post. They are currently offering amazing deals on cases of Chablis and (for Irene K) cheap ‘breakfast’ gin. Hurry this OFFICIAL offer while stocks last expires in 7 days, as has my patience dealing with certain extremely annoying de-rampers on the BPC and CERP share discussion forums. Please forward to all your Facebook friends so they too can benefit from this fantastic Majestic Wines offer by presenting this message at the till quoting coupon code ‘LSE-BPC-CERP-BURP-Starchild’.]
Key takeaways: BUY CERP, BUY BPC, drink wine (in moderation), eat more fish, speak to an independent financial advisor, always DYOR and totally ignore Irene K.
Starchild (AKA ‘Starfish’)
Xxxx
Please refer to CERP's friday RNS at 1310 which I missed: https://polaris.brighterir.com/public/columbus_energy_resources/news/rns/story/rmo57vx
The CERP BoD have very likely known the result of the CERP vote since eod thursday. The votes were mainly electronic via a corporate action, unlike the BPC one which was more manual. If they knew the result was NOT to merge, why bother to issue an RNS friday about both meetings? Under the circumstance, If it was me and I knew the merger had failed, I would have kept quiet and used the weekend to discuss with both BoDs what to do next!
The above is just my opinion and I may have totally misjudged the matter. However I have now marked CERP as a strong buy.
Starchild
how do you figure you have been hitting me out the park re cerp. Seriously you have not even the capacity to get to first base. I have witnessed some sad individuals on here over my time on many boards but you are in a class on your own
Just wait for the next few months. This will be a different beast with Perservance 1 ready for spudding.
Joat: I fully understand why you have filtered out share bashers/de-rampers. The reason I have not filtered anyone is to defend the company from flagrant untruths/fake news. The BoDs cannot defend themselves on a daily basis without issuing RNSs, especially so under the strict disclosure rules during a merger/takeover. However, there is a wider lurking audience behind the scenes needing alternative positive, truthful opinions written in good faith. Ultimately its up to them who to believe, subject to undertaking their own research.
Starchild
I now have 16 share bashers - de-rampers (paid or not) on 'Filters' - cutting out the daft statements by the false prophets.
Rossannan: ......'So you see this as win / win for CERP whether the Court Meeting vote on the Scheme passes by the necessary majority or (unlikely but not impossible) does not. But which outcome do you prefer?'....
I very much believe the merger is good for both sets of shareholders. In Eurovision speak, 'douze points.' Please refer to my relevant posts since June 12 for opinions stated in all good faith, the key one being alone, CERP is too small and BPC too risky to access corporate funding/long term institutional investment. As a LTH in BPC since 2014, the only reason I bought CERP shares in July was to indirectly acquire BPC ones at a discount. I am not a day trader.
The result of the vote will likely leak prior to an RNS and be evidenced in both BPC/CERP SP spikes. (It happened to BPC on Friday as I predicted). What will be will be, so I hope after Monday, the negative contributors on this forum some who admit to having no shares, accept the decision of the majority or move on.
Monday morning will be quite fun, like watching the results of the Eurovision voting while Graham Norton is taking the Mick.
GLA
Starchild
Starchild
So you see this as win / win for CERP whether the Court Meeting vote on the Scheme passes by the necessary majority or (unlikely but not impossible) does not. But which outcome do you prefer?
totally concur with your 10am and 10.32am posts and I read it exactly like you do. The record datea as I understand is well on the 6 or 7th of August, when cerp shares will cease trading ad restart the next day. The conversion was 0.803. However I note that someone on a post yesterday quoted it from the BPC meeting at 0.809 obviously better if that is the case. I said it the sp should get to between 2.2 and 2.4p on the merger date so here is hoping, fingers crossed and 5p before end of year I think was the plan. Probably on announcement of spud of Perseverance 1 but maybe sooner if we get the RNS that I am expecting to see. Try and assimilate this correctly IK as it gets tedious having to correct you on your time line faux pas.
star, i was thinking that aswell, the PRD offer may be revisited post merger.
or partnership?
A ps to my last post...
As I see it, if the vote fails, the CERP SP will increase especially on the possibly of a re-visited PRD offer (and one other point I will share after monday). If the vote goes through, the CERP SP should increase and mirror 80% of the BPC one which should also increase.
IMHO.DYOR
Starchild
yep. And their CEO is much sharper than our “big grin”. Quite impressed by how shrewd a businessman he is. We have a toddler compared to him
'if you had 5 grand would you buy Cerp before the vote on Monday?'......
yes and i did buy more than that last week, CERP, so i could get BPC shares when converted and i also topped up BPC.
I believe both stocks are currently undervalued and should be more in line with the pre-merger announcement valuation on June 11: 2.67p CERP, 3.33p BPC
But that's just my opinion..
Starchild
If you had 5 grand would you buy Cerp before the vote on Monday?
you get a tad ahead of yourself. You must learn. How many do you really hold. If none then you really should stop posting as it is the first sign of madness that you are exhibiting imo.