Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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5-10p
1. New Contract for Goudron with far better terms, allowing for more profitable BOPDs
2. Test results from S1 (MC), and turning this into a producer
3. Start drilling S2 ASAP
4. Successful CO2-project
5. Concrete Plans for WNZ
Patoir/LTID: many thanks. If the proposed merger was never announced, as CERP shareholders ..............
1. What good news do you hope for between now and year end?
2. Assuming PoO remains stable at c$45/b, based on the above good news, what would you predict the current £20m market capital (2p SP) to be by year end?
The above, when analyzed fully, will help predict BPC pre-spud price following merger. Furthermore, some on the BPC forum see the CERP merger as a share diluting albatross around their necks. What they don't know (me included) is CERP's potential to the overall pot.
I only became a CERP shareholder recently because of the merger. I normally study a company thoroughly before buying, but did not do so on this occasion. Any feedback will be gratefully appreciated, to help our step-siblings on the BPC forum make informed decisions.
Starchild
xxx
Thank you LTID.
BPC has been a company fighting various battles. Funding, farm in, Macondo, GOCB compliance, Environmentalists, hurricane Dorian, CV19 etc etc. I’d say IMO, the main battle has been cash.
As far as we were aware the drill (P1) was their ultimate and unwavering goal. Now we have P1, Columbus and Uruguay. Personally and I’m sure many others are very curious to know, what BPC will become, post merger. P1 was a red or black punt, now there’s a fall back of sorts in CERP. Can CERP support the burden of BPC if we are dry? Is there something hiding in CERPS acreage that will Make this merger the best thing that could happen?
Hi patoir I think most of CERPs ongoing projects are detailed on the company's website but we are awaiting test results from the SWP ( saffron 1) hopefully around 500 bopd total production at present approx 560 and we have a free carry on saffron 2 + awaiting an increase from trinity innis due to CO2 injection in cooperation with PRD and we are about to enter Suriname awaiting STOIIP estimates. Just what have BPC been doing over the years ie have they just been working towards P1.
Hi all CERP LTH
I am from the BPC page. I don’t really post, but read all posts.
This thread is selfishly just what is needed for BPC holders to be able to gauge what CERP are about and what has been going on at Columbus. Please anyone who feels they can add to this thread, do so.
Best
Patoir
there was good operational progress at the time. Sadly the sp tanked when Schroders stared to reduce its holding, and contractors paid in shares did the same. SP went from 5 to 2p. Then CV-19 kicked in and killed the POO.
Taods/LGO..Thanks for that. Why did SP surge to 5p in September last year?
It was a totally different company and management team. Their drilling strategy was very risky, irresponsible:
- too high costs
- too long lead times
- too high decline rates per well
- company going from equity raise to equity raise
- POO collapsed to $28
- stuck drill
- Company almost went bust.
- 20: 1 share consolidation
Enter LK et all and company became CERP
Cant recall exact date but back in the LGO days, all was going pretty well pricewise until a hired deep drill snapped and was declared either too costly to retrieve or simply not possible. Big costs to LGO. Since then we long term holders have seen our investments fritter away due to constant handing out of shares to changes in directors, financial loans and other such costs. To be fair, the drop in OP has been a killer but for anyone who hasnt gambled in buying more shares to reduce their average they will be in possible 95% loss zone.
It would be really useful to BPC holders and new CERP holders, if a CERP LTH could write one or two posts summarizing what happened between June 2014 and May 2015. CERP's SP surged to 120p and then collapsed. Part of this was clearly $100 PoO halving in value 2nd half 2014, however what other reasons caused this?
Doing this exercise will help to gauge, to a degree, BPC pre-spud price and post spud success.
Thanks. Have a great day.
Starchild
xxx