Member Info for CERP-84

Thanks ShateScare.

Does anyone know what time Potters Proactive presentation is on Thursday?

Hi Offerman,

I was a big fan of LK too and I'd prefer to think that he was pushed rather than him deciding to walk away at this stage, it will be interesting to see if he holds his stock.... Geoffrey Laid is still there I believe which should be good news from a T&T development perspective.

Looking forward to the presentation on Thursday.

Atb,

J

I'd just be cautious Egg, another way to look at it is that the extra funds are being drawn upon to ensure the bod have cash to cover their exit costs if this goes tits up.

That LK has supposedly resigned due to personal reasons doesn't ring true, especially when he has kept his role at Tulip. On his bio on their website their is no mention whatsoever ever of BPC. I wonder why?

*Test and production I meant to say....

Hi Rob, my understanding is that this p1 exploration drill is just to verify if hydrocarbons are present and to access the structure of what the need to drill through to get to it. If they do hit oil pockets they will take samples to access the quality and carry out a basic wireline test and/or mini DST but a full blown DST test will still be required to determine the full potential of the reservoir once the results of the exploration phase has confirmed that is commercially viable to do so.

My question is why the test and or exploration drills cannot follow the same path as the exploration drill, in my mind this would save time and cost. But there is obviously a good reason why they don't do this. I was just hoping someone on here might know the rationale...

Can someone explain why the exploration well will be capped and abandoned at the end of this phase? I'm sure there will be a good reason why it cant be utilised for testing and production phases but just interested to know what the reasons are for this?

Can someone explain why the exploration well will be capped and abandoned at the end of this phase? I'm sure there will be a good reason why it cant be utilised for testing and production phases but just interested to know what the reasons are for this?

What planet are you on? We've had our fair share of looneys on this bb over the years, but I can honestly say that you post the biggest load of codswallop I've ever Read on here.

Do yourself, and everyone else a favour and crawl back under your rock.

Neither does posting b*ll*cks that doesn't make any sense.....

Some of us have got a life that involves more than trolling a bb that we aren't even invested in.

Pr*ick.

Can anyone advise when the deadline is/was for voting on the merger please? I checked my Halifax sharedealing account last night and was expecting to see some instructions on how to vote but nothing...

I'Ve not been monitoring the bb for a while so suspect I've missed it. If I have, what happens? Does it just not register either way or my share allocation go with the BOD recommendation?

Thanks'

Bully 'Don’t understand why anybody is buying shares in BPC when you can get them at an almost 20% discount here! Something (or someone) is purposefully holding this SP down. Probably an sell order agreement with Schroders to sell as soon as it hits 2p.'

This is exactly what's happening! Investors should see the suppressed Cerp SP as a chance to pick up cheap shares from Schroders, if the oiil wti continues to rise and any one of the Cerp prospects comes in then someone at Schroders is going to seriously regret the decision to reduce their Holding. Hargreaves lansdown Who are now the largest cerp shareholder seem to be picking up most of the shares Schroders are off loading. Interestingly HL also Have a major holding in BPC. I've picked up a few more In the last few days and will continue to do so while ever the sp stays below the 2.5p mark...

Just checked the rns. Yes they are....

Hi Chesh,

Are the BPC shares in lieu of 12 months salary then?

Atb. It's a yes from me... having said that I won't be losing any sleep if it doesn't go through as I think CERP are worth much more than the 25m we have been valued at....

Good to see that Stuart Ahmed and Geoffrey Laid are staying on to Assist Lk overseeing operations in SWP and Suriname.

No wonder Tony and Gordon are in favour of the merger, each are due compensation of 12 months Salary plus share options (250k and 190k respectively plus options). They have worked for the company for circa 3 years and during that period the company has been loss making. Not bad work if you can get it eh..:-)

I can see why many investors get frustrated when the SP remains stagnant due to Dilution but yet we can afford to pay out ridiculous sums in exit and transition costs, not great shareholder value from where I'm sitting.

I'm hoping in 12-18 months time we do finally see the this come to fruition. Here's hoping....

Thanks jcgswims, much appreciated.

Hi Bully, baraboy confirmed the other day that the regular bulk sells were down to Schroders. I'm not sure where he got the info from but here it is....

AIM:CERP Recent Insider Transactions by Companies or Individuals
Date Value Name Entity Role Shares Max Price
17 Jun 20 SellUK£8,500 Schroder Investment Management Limited Company 500,000 UK£0.017
16 Jun 20 SellUK£25,950 Schroder Investment Management Limited Company 1,500,000 UK£0.017

It would be good to get an update from Tony or Gordon as to what they are doing to attract new institutional investors....

Until Schroder's have sold their shares and stop triggering sells every time the SP rises, this is going nowhere.

Chrisw545, The BPC board of directors have an infinitely greater knowledge and understanding of the Companies current situation and prospects than you, and the fact that they have actively approached CERP to broker a deal should be evidence enough to anyone with any sense that the merger is in BPC's interest. CERP Are a safe bet as they have tangible assets The saffron LC alone has an NPV of $90m based on a WTI of $45 The proposed merger offers clear benefits to both sets of shareholders. As a CERP shareholder I naturally believe we got the thin end of the wedge in the same way you think you have. The truth is the sum of the 2 parts is greater than the single entity. Personally I couldn't care less if the merger went ahead or not as we have assets and prospects to fall back on and a fantastic chairman who is personally invested in the company. It's your call.