Member Info for CarsCoffee

The problem is with you Harry is that you keep asking for more information. They are not allowed to add anything else that is not currently in the public domain until after the vote.
Their is plenty of information around you just have to look for it. The companies together have a better chance of success and better funding opportunities, that is what it comes down to.

Loads of information out there. What it comes down to is do you want the risk of a large drill that the merger will help fund.
At the current oil price CERP will struggle on its own and Leo will probably leave if this merger doesn’t happen. The BPC drill gives CERP access to one of the biggest possible oil reserves undiscovered at this time. I feel it is time to take the risk.

All this wave talk is driving me crazy. You are not taking into account the wind and the tides.
I went to Aston Hatfield today. Not the best customer service but they said that they would not get the demonstrators for the DBX until the middle of August and customer cars would not arrive until September.
That is not great as that would signify an additional delay in production. On the flip side they said the wait would be 12 months and they have many people waiting.
This does not mean that the press drives and general release will still not happen this month and I hope it does.

Novice if the BPC board came out and said that the drill was funded UNCONDITIONALLY then I would agree with you and others that the CERP deal is unnecessary.
The truth is that in many of the recent releases they have stated over and over that the deal gives them more borrowing options and will attract investors.
Translation is, we need the merger to complete the funding. If you vote NO then you are risking a no drill.
Just my opinion from following all of the recent information and I could be wrong but why take the risk? 25% dilution for Purchasing assets Seems better than the possible alternatives.

Morning, DBX driving reviews should be coming any day now. This will cause a stir in the market. Then first deliveries towards the end of the month.
I don’t see any other news likely before Q2 results. Will that be enough to keep the current price or move up? I don’t know but all the future news after results will be positive so be ready.

I was thinking the same thing Bully. I don’t understand why you would buy BPC over CERP at this point.

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.

35p would be 42 Rox

I am a yes, 15,000,000

?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.

London, I do find the lack of movement strange also. You would think that BPC and CERP price would start to merge based on the 80%

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.

Tiger it is very important. He already tweaked the production line so I am sure nothing will go out without the official sign off from the new boss.

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.

Findme my sentiment of the Bahamas was not that they are not interested. Completely the opposite, they need and want this to happen however the endless extensions have run out. BPC have to deliver this drill.

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.