Member Info for bonum

I think people do understand the implications of the Merger and within their own perspectives regarding the investment.

Yes, we have a revenue stream coming on board but at a significant increased share issuance.

Everyone here was well aware of the binary play here, the huge potential upside mitigating the early entry for a pragmatic derisking closer to drill results.

That's been significantly reduced now and at a modest revenue stream coming on line, imho.

Good for the BoD to secure their corporate futures but not so good for ordinary shareholders imo - not devastating of course but not good, imo

Would have preferred no deal tbh!

About a 25% dilution I think.....?

0.803 new BPC shares for every CERP share held.

That's why I'm increasing my MATD with redistribution of certain BPC funds.

They're issuing new shares for CERP stock at 2.67p!

Due to the late release of the RNS, many wont be aware of the news, hence we're likely to have a more decisive impact from it tomorrow.

Obviously, the markets initial response isn't a positive one, hence I would reasonably suspect further fall out from that toorrow.

The new equity release is priced at 2.67p with the various decisions being stamped in late July.

I'll stay on the sidelines atm and retaining my core holding in BPC and redistributing the rest.

BPC & MATD is my preferred holding!

Wont be buying anything of CERP, even with any slight discount, as the fortunes of both BPC & Cerp are now intertwined.

I prefer greater Risk diversification.

'Countervailing viewpoints' are in abundance! Interesting first post though, lol ;)

Will get back to the other points but looking over certain breaking news on other investments.

Atb

"Are you reducing your exposure Bonum?"

Somewhat Phoebus and by a modest amount - which I'll redistribute into MATD.

The investment has changed somewhat, albeit fundamentally still sound. However part of the lure of getting in early was to get essentially discounted stock to a prevailing price we could expect pre- drill results.

That's been somewhat mitigated now, longer term risk being reduced but potential upside also.

MATD is a better prospect now, imho

Will re-distribute my holding here into MATD now!

Do your own independent research.

Again, Long term GOOD - short term BAD!

Imho

Agree with you phoebus regarding Lenigas - I also held LGO at some point and it was bedeviled buy continuous funding rounds and certainly didn't like the way Lenigas operated.

Things have changed somewhat by the looks of it but although I think it's an excellent move by the BoD, I would also have preferred the focus on Perseverance 1, albeit the Urruguay move was very pleased with.

From a longer term perspective, this is an excellent play in acquiring a producing asset base & further exploration prospects.....along with the Uruguay asset.

On the flipside many current BPC holders were focused primarily on Perseverance 1, looking to derisk at strategic milestones and still with the prospect of major capital growth off a successful oil strike.

Long term the prospects are improved with greater risk diversification, which is important when viewing oil stocks.

Short term, we have effectively a larger share issuance and priced for conversion at 2.67p

Whether this is GOOD or BAD, depends on investor timeframes and individual relationships to risk.

I already have a degree of diversification along with massive upside potential, through my MATD holding, hence was comfortable enough without the merger.

However, I can accept the logic behind it from the Management perspective.

Back to MATD

Atb

Exactly as speculated on this morning!

Excellent development and with current producing assets & revenue streams!

Well done BOD!

No place like London ;)

Thanks Phoebus, but will stick to BPC & MATD as my main oil stocks and having thoroughly researched them.

Thanks for the nod & atb

Thanks for the nod on the MATD board sharehunter3, but will likely stick to that investment - major breakout expected there as discussed.

Atb

When the CEO, whose known to be understated in his comments, says "I'm very, very confident", what does that say about the various processes going forward.....also noting he and his team are the ones actually in communications with the various relevant departments??

Not a random poster on this BB, looking with interest at his/her own entry.

If anyone wants to wait and let the various processes play out, fair enough, but let's see the vast premiums being paid for stock at that time.

We only have circa 650M shares in issue, with a vast majority being held by key major shareholders, aligned to the needs of a Mongian domestic oil supply.

Atb

Still prefer the risk diversification and massive upside in MATD Napthman, but each to their own - I'm comfortable riding my 'free carry' here.

Atb & good luck with your investments.