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Well, my almost 10 year affair with LGO / CERP has come to an end. I am both happy and sad but not in equal measures. I agree with our chairman that being part of a larger group in this era is a good thing. We have unbelievable potential in the SWP, but never had the money to explore it properly and in a timely fashion. Our future lies with the Bahamas, not a bad place to be or live for that matter ( spent a few years there back in the 80's, holidaying in the 2010's ) We will know the outcome of the drill in early 2021... if we hit what they are predicting, we will all have very good returns on our investment. The world will, hopefully, be a slightly less insane place to be by then... I did say hopefully. the King is dead, long live the King.
Wow... That vote count wasn't even remotely close. Pretty much a landslide.
Clearly I have a minority perspective on this merger. Very happy to be proven wrong.
Hi Willec Now that the merger is done & dusted I think from now on we should just refer to the upcoming drill as P so as to remove any variations over the spelling......... JUST SAYIN.
looks like it got full II backing. Lets hope Schroders now have some renewed patience.
here's hoping for a accretive future....
Looking forward to December and Perservance - Irene Krapp must be so upset realising now the sp will be rising from here.
Let the fun begin this with fly in the next few month as BPC - fantastic news and here to a lovely future in the merged company
All passed, and pretty overwhelmingly.
So it is time to bid farewell to CERP. Whether you loved it or hated it (or a bit of both), it was continually educational.
Approved
She will soon regret not owning any shares in CERP - The board is lovely now I blocked her I would recommend this 100%
Bashers doesn’t have any shares in the company....why??
Starchild
The timing of the PRD offer was really interesting though as it gave CERP shareholders, at a point prior to the deadline for submitting their crucial Court Meeting votes, a potential go-it-alone scenario. The original $4.2M never really rang true but the prospect of $1.75M in the hand had the ability to increase the “determined minority” (since funding the pre-June 11 road map had long been an issue). Doesn’t look as if it worked, but we will know for certain very soon.
good post joatman
i was aware of naked short sellers but im a novice in the investing world,
think we would all do well to read over that again and remind ourselves of how the minority act
gla and welcome aboard cerp!! (pre-emptivly)
What do you do?
It is important to find answers on your own terms. Pick up the phone and call the company, talk to the investor relations person or the CEO until you get a satisfactory answer. The problem here is that the advanced basher has you doing his bidding; you have essentially joined his ranks. So, develop your own little “Due Diligence Package” and answer questions by placing the information into the package. Then you can refer new investors to read your well-researched answers to questions raised in the Investor Information package.
!!!What you need to avoid is getting into a conversation with the basher himself or herself about the topic. Once you get into direct conversation with a basher, you give the basher credibility. !!! Answer the question if you need to, but do it indirectly. !!!Never use the basher’s name. Never get into a personality contest with a basher.!!!
Lesson 10
Always report the basher to the board or forum eventually they will have to take action. Collective reporting on a daily basis will ensure the bashers’ demise.
Lesson 6
Bashers play on your lack of knowledge. They count on the fact that they can lie about information and you won’t know the difference. And you won’t, unless you have done your assessment of the company and know truth from lie.
Lesson 7
Bashers play on your lack of patience. You have held a stock for a while, knowing it will be a big stock someday. The basher can get to you because you are tired of waiting for your gain. When you are getting your plan, you are ripe for a bashing. You are tired and you’ve forgotten that the goal for the stock was to hold it for one year, then see where it stands. The basher is bothersome and tiring, so you dump it on a bad day and so do others. Then you get angry about your loss and you return to the board to let everyone know how mad you are. Congratulations, you too have become a basher. The basher has won and gained a new, unwitting, partner. At this point the basher will buy low and become a pumper, maybe using a new alias, and will try to reverse the trend. Your loss becomes the basher’s gain as your stock rises after you sell it.
Lesson 8
The basher is all about bringing the price down. That is the nature of a basher. The truth is not important; lies are the norm. They are trying to hit the newbies visiting the board for the first time, so they post continuously throughout the day. They are trying to wear out the longs on the board and they will do whatever it takes to do so.
Lesson 9
Bashers will try to create doubt and get you to research items that they know will lead to the creation of doubt in you and in other stockholders. A typical trick of an advanced basher is to propose that there is a potential “problem” because “we” don’t have the facts on a particular subject. The basher dares someone in the group to find out the answer to the question. The basher already knows the answer and knows what you will find. The power of this tactic is that the basher is now in control of the actions of the stockholders; the basher has you in his web of lies. Most stockholders will do due diligence when confronted with a questionable news story. When the stockholder cannot confirm or deny the story because of too much conflicting information, the basher gains credibility.
What do you do?
It is important to find answers on your own terms. Pick up the phone and call the company, talk to the investor relations person or the CEO until you get a satisfactory answer. The problem here is that the advanced basher has you doing his bidding; you have essentially joined his ranks. So, develop your own little “Due Diligence Package” and answer questions by placing the information into the package. Then you can refer new investors to read your well-researched answers to questions raised in the Investor Information package. What you need to avoid is getting into a conversation with the basher himself or herself about the topic. Once you get into direct conversation with a basher, you give the basher cred
The professional de-rampers are employed to bash shares:
Countless investors find their way to the message boards only to see false posts about company news, “problems” and “Share Price Correction.” Such boards are filled with bashers using a variety of aliases, posting false or misleading information, all in all making it very difficult for a newcomer to tell fact from fiction.
For nervous investors, it is often easier to sell the stock and put the money in the bank. These are the people on whom the bashers prey. Bashers bet on a stock to go down and they do their best to help it happen. They are not concerned with the risk of losing money like the average investor, because they are usually paid to bash the stock. In other words, they are not using their personal funds and are not actually investing themselves, or at least not in that stock. Additionally, bashers do not wait for the markets to go up or down; they make them move themselves. Bashers use fear, lies, and falsehoods to prey on the nervous investor, thus influencing the markets in their favour.
Lesson 1
Bashers never bash bad stocks. You can watch the board for stocks with no potential. You’ll see pretty quickly that those stocks don’t have bashers. Bashers only go after stocks that are going upwards or have excellent potential to go up. Bashers get left behind, so they want to bring the price down.
Lesson 2
Bashers bring up old news that you have heard many times. All companies always have a few bits of bad news. The basher will post these bits over and over again. The stupid basher will try to make the old news a bit fresher to try to fool you. Don’t be fooled!
Lesson 3
Bashers post many times a day. They try to wear you out. They comment on everything, every other post, and can answer every question. To hear them say it, they know it all.
There is no positive comment they won’t bash. They try to control the board with their negativity. If they seem to be working on this one stock full time, that’s because they are! Even more than full-time.
Lesson 4
Bashers will lie to your face (or your keyboard). Never trust a basher. The truth on most companies is that mistakes are made and losses happen. The basher will try to make you believe all companies make a profit, release financials every quarter, and have all aspects of the business running smoothly from the start. This is not true. Anyone who says it is true is either lying or ignorant. Don’t listen to either kind. Small AIM companies can go years without profits; this is the nature of the beast.
Lesson 5
Bashers know that you can’t verify their statements. That’s why they make the statements they do. You can’t check them out and you may just believe them and then they win. Either way, they don’t lose.
"Expect Bpc to accept PRD's offer once they take control. They will more than likely asset strip to fund perseverance 1."
WRONG
perseverance 1 is already funded DYOR
Leo, Gordon and Tony - if the merger is not passed, its time to put aside your differences, really roll up your sleeves and knuckle down to some hard work and delivery on your promises!
A share price collapse from almost 8p to 1.9p over three years doesn't feel very "accretive" - it is NOT good enough!!
Zebra04, respectfully why do you keep bombarding the CERP/BPC forums about the CERP BoD’s refusal to accept PRD’s derisory offer to acquire an asset for $1.75m?
We are not the decision makers on this matter. If you are directly or indirectly acting on behalf of PRD senior management to lobby for this transaction, it may be more productive you write to the companies direct. Their contact details can be found on the CERP and BPC websites. If I had my way, based on the timing of the PRD RNS allegedly meant to create controversy, I would decline the PRD offer on principle, risk it would never produce another drop of oil revenue, and turn the area into a cactus garden rather than sell it to PRD. However I am not on the BoD of either CERP or BPC so cannot make that decision.
I also remind you of your post on the PRD BB on 3/3/20 20:43 entitled ‘ignore the trolls’. I am not quite suggestion you are trolling us, however you are cluttering up our BB with what is currently in my opinion a trivial matter (for CERP/BPC) in the overall picture, although it appears to be important to you and PRD.
Starchild
Your 3/3/20 post…..
‘Guys can we stop replying to him please. I've never had to filter anybody before but he is something special. The board is still cluttered with green boxes. Why do I care? Its likely his deramping has caused at least one person to sell at a loss. Meanwhile he may have used the oportunity to average down or buy back in. I despise people like that and we should not give him the attention. Over on advn he posts as radar and has also ruined that board.We are getting close to spud. Any new investors wanting to discuss the company, are probably put off by all the crap he has posted on both boards.’
Cheers Zeb................... helpful at max............... :(
Question is, OMJ "thinks" this, what are OMJ's reasons for this thinking...........?
it's all ok stating peeps have been banned, of are bitter, but when you blog.................. reason it........:()
All the best (he has not more than a thought .............! :()
@chesh
Omj thinks the board will accept the offer post merger.
Was that not obvious from his post? Wow.
Of course lk is joining the new board. He continues to get a salary at share holders expense. When he has little to justify the past 3 years salary.
The upto date one ........ :()
cos that was from last week, pre news............... !
" and I think the BPC board, who will end up in control, may be quite happy to do a deal for FRAM on PRD’s terms."
so, what does OMJ think the new BPC BOD will do.............? inclusive of our"Koot" BTW.......?
All the best (he's not a clue, but I reckon $4.2m is the asking price :()
Oilman Jims perspective,
The CERP merger with BPC does appears to be happening though. Bahamas’ shareholders gave their approval on Friday; the Columbus shareholder meeting to obtain approval is tomorrow. Key for investors here now is how everything is going to be financed and I think the BPC board, who will end up in control, may be quite happy to do a deal for FRAM on PRD’s terms.
Expect Bpc to accept PRD's offer once they take control. They will more than likely asset strip to fund perseverance 1.
With the ongoing global economic crash, assets are being purchased at below market value.
Lk then went and put his hands up and said he couldn't continue the 5 year plan due to covid changing the landscape.
An astute board would've been able to navigate the new landscape and make the most of the opportunities that present themselves.
The market has taken that as an admission of defeat and the the sp has tanked. Prd will approach it as purchasing a distressed asset.
The board here can't afford to pay themselves or contractors and have to keep issuing shares and diluting share holders. It would be ridiculous of them to turn down 1. 75m cash for an asset that without eor is of little value.
He was a formidable part of your "we" (fraudian slip) Irene fosho............. :)
I's worried you haven't been able to locate the scally wag......... :()
All the best (probs under another moniker now :)
I tried to find him Irene hun............!
but was accused of stalking, so stopped immediately........ :)
All the best (It would appear you've taken up stalking rhodi now mind :()