Jjtrader the most interesting thing I took from that and ready previous was that Stroll had put the facility expansion for racing point on hold.
We could be over thinking it and it could have just been because of the current climate however it could also be because bigger moves are happening in the Merc F1, Racing Point saga.
Another thing to put in the conspiracy theory list but it does have merit.
The biggest reason for not providing more information on the conditions of funding would be if it was reliant on the merger.
If that was the case they could not provide any more information until after it was concluded one way or the other. My fear as stated is that if the merger doesn’t happen the funding will be withdrawn which will mean that share dilution will be the only option and probably to a larger extent that the CERP merger dilution.
One of the posters below commented that the dilution of 25% from the merger would essentially mean P1 emwould not make the company successful.
Obviously with a successful drill prior to the deal you would be looking at around 20p in my opinion so now that would be around 15p how would a 500% rise not be a good thing? It could be considerably more in my opinion.
?Sugar this all happened when the oil price was at 20p and below. Both companies were trying to save them from going under.
Would the valuation be different at $50 oil price? Yes but so would the potential of BPC.
I like the huge upside and have only invested in CERP for the BPC potential. CERP on their own will struggle over the next couple of years if oil doesn’t go above $50.
I prefer the gamble of the 10-20x share price on the Bahamas drill than the one to wait and see if the oil price recovers. Even with the recovery the CERP upside is quite limited.
Rox my view would be that the market will react badly to Q2 however around the same time the DBX reviews and deliveries will be happening.
Along with this the new boss is coming in, these two things may well outweigh the expected Q2 results. Obviously just speculation but you could end up missing a quick rise as those two are eagerly anticipated.
One more thing Gaydon is due to open around then also. Maybe a lot of things that will cushion the results and should outweigh them.
I am not invested in BPC and have stated that although I am excited and for many reasons want to see the P1 success I did not have faith in BPC to deliver on their own.
I have chosen to invest in CERP so I have something if the merger doesn’t happen and will be happy if the merger does.
To be clear I have invested in CERP for the BPC asset and the fact that Leo will be coming over.
They stated that conditions had to be met even at that point to complete the funding. I believe that they had not met those provisions so the drill would not have happened.
They did not lie but they did mislead in the hope they would still find another way. CERP gives them the other way.
Harry you said a lot of people so I assume I was in that group.
I don’t think they were lying to you as all the interviews and info I have seen have said the funding gap facility had requirements attached. These may or may not have been met.
Good day for me today. Drove my Aston GT8 to Newbury and roasted the first batch of beans at my new venture.
Not much news here. DBX will hit the roads this month and reviews should start circulating, this could bring some new buyers.
We will probably have to wait for profits before the next big move.
Yes Starchild, I was one of the first responders to Abaco after the hurricane last year. I was the only boat that left Nassau that morning and took 2,000 bottles of water, food, 10 generators and 200 tarps.
I nearly sank on the way and could only do 8 knots due to the weight. It was all worth it when we arrived to sad and run down faces. I cooked large vats of spaghetti and provided a warm meal. Every building was damaged or demolished. Spent the next 3 days helping patch roofs and drying out one of the churches.
We had a sat phone and many made the first call to loved ones since the hurricane hit. Emotional times but very glad I took the risk to go.
Anyway as you may have gathered I hope P1 is successful for many reasons and this merger could be essential so not worth taking the risk to vote against it.
I said I do not know 100% it will not happen.
The CERP valuation and this deal was done at a time when CERP didn’t look viable due to the oil price and the fact that an oil price recovery didn’t look like it would happen as quick as it has.
At the current price and above CERP will be able to continue and have some good value in the ground.
Anyway as I stated earlier I am interested in the big ticket not CERP. I just see CERP as the vehicle to make it happen.
I don’t mind giving out some personal info as I really have nothing to hide and I have actually met with other members on other chats.
Anyway I have been upfront and believe in the oil in the Bahamas so why risk it not happening for a relatively small dilution when it comes to the 28 Billion barrels as a possible upside.
Let’s get the deal done and find the oil and we will all be happy.
I will lay my cards on the table.
I have watched BPC for 10 years. I live between the Bahamas and the UK. I am very aware and have a lot of knowledge (I can talk to the PM) in the Bahamas and all the delicate politics involved in these deals.
Patients is getting thin with BPC and the lack of action.
I do not know 100% that the drill will not happen however the constant reference from both sides in regards to the merger is that it will strengthen the financials and give access to more avenues to funding.
This kind of talk translates to we need this to happen to get the funding needed.
I am all in on the hope that the P1 drill goes ahead and is successful. The reason I have decided to come in after the 10 years is because I have faith in Leo more than the BPC board and I see the assets as a way to get the funding needed.
I have hedged my bet by investing in 15,000,000 CERP shares because if the merger doesn’t happen I don’t want to be holding nothing when the Bahamas government pull the rights from BPC.
If you guys want to take the risk that after 10 years your team will deliver then go ahead. I really am investing for BPC not CERP but I will not take that risk if they are on their own.
THE DRILL WILL NOT HAPPEN WITHOUT THE MERGER. That is all you need to know. So you take the P1 risk and the risk that P1 will not happen with a No vote. That is why you should vote yes.
Also your BOD have unanimously said this is the best thing for the company. You should probably ignore them also as you don’t seem to listen anyway.
Holly all of Ferrari operate around that level as well as some select others as Paul has stated. This ewill be the number as long as demand is there.
The Valkyrie indeed was a development car shared with RedBull to trickle down to the mid engine line.
The money has been spent and is part of the current debt. It has set the stage for the new line and as you will see will be groundbreaking.
Holly just a couple of things. The IPO wasn’t £19 billion as you stated and the DBX profit margin will be a minimum of 30% plus higher on options. Also they will produce at least 4,000 next year.
Apply those numbers then add all the specials and the core models and you will start to understand.
Also ask your kids about the Valkyrie and Valhalla in a years time and you will understand the direction the company is going.