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Neon, I agree with your sentiment however I would say is that with oil hopefully staying around $40 and above I think that Leo underestimates the oil price recovery.
The general consensus was that oil would stay below $40 for an extended period, possibly up to 2 years. At that price CERP has no business and no way to develop assets which is why this opportunity came about.
I still like the deal but the future path of both companies really do rely on the Bahamas drill. If come March 2021 Bahamas is a duster then moving forward will be difficult unless oil is above $50.
Personally I like the risk reward element of BPC but do understand that some CERP holders did not want that risk.

Nice info Smiler, definitely a lot of potential. The high end Range Rover is over £100k and I am sure some will stretch for the much more exclusive and better looking AML.
I do think demand will our strip supply for a couple of years so profit margins will be great.

Do you guys think that BPC survives without an oil find at P1? Genuine question and how do they move forward? Surely it could only be through massive dilution and I think at 2p they will struggle to find buyers.

The problem will be that at the moment it is much more beneficial to buy CERP as it translates to £2.20-£2.40 at the recent prices.
You will see the CERP volume has been a little higher than BPC recently.

Swartz, the £2.38 was after the recent dilution.

PaulOz, we will be roasting from next Monday. Stop by anytime, shoot me a Whatsapp. I will have some bags ready for you.

Evening everyone, had my new Coffee roaster Install today so just catching up.
I think the drop was overdone a little as was the RI drop. The price should never reach the placing price in theory as the cash has added value.
In my view the 8p per share of added value should be represented on top of the 50p price. Although we will see some quick profit takers I see the share balancing back out in the high 50’s in the next few days. (Assuming the general market stays neutral)
Hope everyone is well, good luck tomorrow.

Glide I was agreeing with your sentiment about not having sufficient funds and the drill not happening which seems to be obviously but not to all it seems.
The timing of the drill announcement and the fact that CERP (Leo) had already been in talks with BPC in my view is no coincidence.
I have been reading the board and I still believe that the current drill and finance to complete is reliant on the merger and BPC would be taking a risk by voting no.

Yes Bully, the margin will be at least 30% plus additional options which will push it higher. I think they will look to maintain a minimum of 25% across the board once all the Current old stock has been Sold off.

Don’t worry Dunnie, the Valhalla will be the focus along with an old and new vantage and the DB5. Plenty of Aston magic and I think the first time 4 cars will be featured.

That branding expansion has lacked direction over the last few years so at the moment they have decided to scrap those projects and get the fundamentals right.
Once that is sorted I think Stroll will be the guy to license out and expand the merchandise side as well as other projects.

I don’t really get involved in the politics on here and I will try to keep it that way. Let’s stay constructive.
Picking up on a point earlier, the DB5 bond car has been a success. They had already done a DB4 continuation series a couple of years ago.
It is difficult to know what the profit margin is but I can tell you that to do a ground up rebuild using new manufactured parts would be close to £500k so that would probably be a good estimate.
So assuming a run of 25 at £3 mil that would be £62.5 mil profit. This is likely something that will continue in the coming years.
These projects are done at the old factory at Newport Pagnel. The same place they used to beat the panels into shape up until the early 90’s.
Just another example of the strength of the brand and the value that can be leveraged from many different avenues moving forward.
Have a great Sunday everyone and short of a FTSE meltdown on Monday I think we will see a nice bump.

Selecta I do agree also with the fact this was necessary to secure the sufficient time buffer to reap the benefits from Q4 and Q1 2021.
This will be the time that DBX income will be shown along with the Valkyrie deliveries which unfortunately have been pushed to Q1.
I have seen comments regarding no sales of profit since they took over which just shows the lack of knowledge.
The new BOD’s have had to navigate and keep the company liquid through the worst possible scenario ever in the car industry history (Exemption being the world wars).
The important part is they do have funding and in my view a great opportunity for expansion over the coming years with the new team in place.
If you don’t believe then don’t buy. If you can’t risk the money then don’t buy in a recovery stock with a turnaround plan.

Deos its a good thing you know better that the guys who jumped in buying at 49-50p yesterday and all the people who spent £150 million on the placing.
Not sure what we would do without your expert knowledge.

Just because the name of the company has pension fund in it doesn’t mean it is so. I don’t know but it could be they are not actually one so don’t have the normal investing restrictions.
I agree that it would be very strange for them to invest in such a speculative share but I also find is strange that anybody is buying BPC as you can buy CERP at a discount.

Hey 3300, sorry I have had to get some work done this week.
Obviously positives and negatives with the placing. The need for more cash is worrying however I expect is was a contingency for the Covid countermeasures.
The fact that the 50p units have been snapped up is great and shows the market confidence rather than RI which basically forces existing share holders to keep reaching for their wallets.
Regardless the cash is interest free and can be used efficiently by the new team to keep the recovery on track.
Once I have taken a deep breath I am surprisingly happy that this has happened and have even more confidence in the path forward.
We all know the cash will be rolling in next year so let’s accept the increased security as well as not relying on the high interest loan facilities put in place by the previous leadership.
Time to Increase holdings as the future is now more secure and we have added contingency for any further issues. Strangely, what is not to like?

You go invest in your pedal bikes plonker. What happens next year when everyone who bought one in lockdown realize they never use them and sell them used?
Just a Covid spike that will settle to normal levels again.

It is unfortunate that this dilution has happened and I will be open in the fact that I did not think this would happen.
I was of the thinking that the debt could be restructured with more favorable conditions. This cash injection should obviously add to the safety net and probably a Covid emergency stash for a resurgence.
My view on a placing is that as long as people are willing to buy the shares it can be a positive and allow for a stronger recovery.
All the good news is still to come and the RNS tried to hint at the horrid H2 results as to soften the blow a little which also probably contributed to the drop to the placing price.
I am still holding and have faith in the brand and the team. I see the issues and try not to be biased and understand the possible downsides.
This share is currently incredibly cheap again and short of a whole market crash or more lockdown we will see a nice uplift again.
I will be back in the buying game at this level.

Yes Monkey, maybe 235p. Unfortunately that will probably be our new target at the end of next year.

Bespoke, the thing I find strange is that they bought BPC rather than CERP at a discount with the assumption that the merger will go ahead.
Maybe the merger is not a shore thing as I was assuming?