Member Info for CERP-84

I make it 0.13%

Thanks for pointing this out Starchild,

Still not convinced we are getting a fair exchange ratio but you have alleviated my conspiracy theory somewhat.... ;-)

What strikes me when watching Tony's interview is that when the Merger due diligence period started back in mid April the average cost per share of CERP around that time was 1.7p, the average price of a BPC share was 1.4p.

This was prior the the Saffron test results being announced so that also needs be taken into consideration as this should have had a further positive impact in CERP's favour when the exchange ratio was calculated. Surprisingly since the start of the confidential DD period the BPC SP shot up from 1.4p to over 3p a share on no significant news.

My conclusion to this is that the CERP BOD did a much better job of keeping the negotiations under wraps than the BPC BOD did.

The other thing that needs to be taking into consideration is the fact that during the DD period Schoders have been reducing their exposure to the O&G sector which further suppressed the CERP SP.

AIMHO.

Thanks Obadhia, I meant they had reduced their holding by 10.49% over the last Few months, rather then from when they initially invested. If the WTI continues to rise then maybe they will reconsider their decision to reduce their holdings in the o&g sector....

Thanks baraboy.

Hi TC, yes I agree There is a pattern of selling off batches of 500k or 1m blocks of shares every time the the SP starts to rise, if this hadn't Happened then we could have expected an SP of around 5-7p for CERP following the Saffron test results announcement. I suspected this was Schroders but just wondered How baraboy knew this was Schroders for sure or Was just Assuming this. Schroders investment has only dropped to 9.19% of the company, which is only a 10.46% drop in their initial holding so I'm not so sure it can all be down to them....

Jim, Would you care to elaborate on why you think 'CERP are looking like they are dying anyway' ???

Do you have any evidence to support such a comment?

Hi Baraboy, Thanks for this, how did you know it was Schroders?

Jim, I offer my sincere apologies, I was mixing you up with Bonum!!!

Hi Jim, This was Schroders stance as of 20/4

https://www.schroders.com/en/mt/professional-investor/insights/markets/problems-in-store-whats-going-on-with-oil-prices/

I guess there is always the hope that since the WTI has risen quicker than anyone anticipated that they may change their stance in the future. Here's hoping....

Hi Jim, Schroeder's originally came on board shortly after LK took the reigns. The have reduced their stake in CERP to 9.19% over the last few months, this is a 10.46% reduction on their original holding over that period.

The easiest place to find this Info along with other ownership information is here......https://simplywall.st/stocks/gb/energy/aim-cerp/columbus-energy-resources-shares#ownership

You just need to register for a free account to gain access.

Atb.

Also, just to come back to you on your point about nobody buying, i beg to differ, if Shroders hadn't been selling off batches of shares every time the the SP starts to rise then we could have expected an SP of around 5-7p for CERP following the Saffron test results announcement.

Reading your previous posts it appears you like a risky investment! I suspect this is at odds with the vast majority of private investors. IMO what this merger offers BPC shareholders is mitigated risk. If P1 fails BPC will have eggs in other baskets and hopefully will live to fight another day.

I have a feeling I'm wasting my time trying to explain all as i strongly suspect it will go in one ear out straight out of the other.... But hey ho it's worth a try...

ATB.

Jim, Our current suppressed SP is caused by a number of factor's.... Shroders selling out, Reduced Oil demand caused by C19 and oversupply of the O&G sector caused by the OPEC/Russia price war. In 12 months time once the world is back in full production non of these factors will apply. (We all hope..)

IMO the current situation we find ourselves in offers private investors an opportunity to pick up shares at a bargain price.

ATB.

Some of the investors who read both boards will already be aware of this but Shroders who are one of the major CERP investors made a corporate decision a few months ago that their future strategy would involve pulling out of the O&G Sector altogether. It's important to note that this applied to all O&G companies which they were invested in not just CERP. This has meant that the SP has been suppressed for some time as they appear to have a trigger set to sell off batches of 500k-1M shares every time the SP starts to rise. This is one of the reasons why some CERP share holders believed that at the 0.83 exchange rate agreed in the merger negotiations wasn't a true reflection of CERP's true valuation based on it's assets. (11.5mbbl in proven 40 API high quality oil reserves @NPV $90m , with a risk free drill, along with all CERP's other assets, Goudron, Saffron MC, Innis, Wag Nar Zee etc....)

The sooner Shroders are out of the picture the better, once they are then the brakes will be off and we should see a significant rise in the SP. AIMHO.

ATB.;-)

Some good points starchild.

I'm also convinced that the merger is in the best interests of both parties.

IMO The major oil producers, especially the ones that have a big dependency on Oil revenues such as Saudi, Russia, Kuwait etc... can't afford to let the price drop from current levels as they have massive budget deficits due to Covid 19 and need to fill their coffers again. Add Trump into the mix trying to do all he can to make it financially viable for the US Shale Companies and China in overdrive to get their economy back on track and it wouldn't surprise me at all if the WTI hit $70 by the end of 2020....

This might be why...

https://www.bbc.co.uk/news/business-52751661

Morning Willec,

I suspect that there are a large number of CERP investors out there who have gone away and done their own research and based on the information we have available have eventually come to the conclusion that the merger is the best course of action for CERP . I don't think your constant ramping is necessary and it dilutes the helpful information you do post now and again...

Have a day off, it will do you the world of good.;-)

ATB.

I've had a quick look through the BPC RNS's and BPC website. This info I've found suggests that due to the covid 19 situation the Perseverance 1 drill was being pushed back to late April early June, this hasn't happened but i can't find any information on the new drill date. Can anyone advise or share a link to the latest information on this please?

Read Toldo's previous posts, he is clearly not trying to de-ramp this stock, in fact he is more upbeat and informed on the current situation than most...