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Sorry Star, i should have read your reply to JB. o these RNS's are just declarations of what some large holders of shares have in their portfolio.

Thanks for your replies but maybe I did not make myself clear. I know what an RNS is but I do not know what the significance of these that we are getting. It looks like large numbers of shares are either bought or sold but the share price is stuck in the mud. Thanks anyway.

On the basis of RNS's for Dummies what exactly does the RNS mean?

So t610 CERP is basically a charity case that will ride on the back of BPC especially if P1 is a success.

An example of gobbledy gook instead of specifics is this statement from BPC under the heading Production Income from CERP.

• Base level of production income leveraged to uptick in oil price and/or increase in production
• Identified route to growing in-country production,

Give us figures, now and projected.

JTH, I agree. This CERP merger aside makes me wonder how confident the BPC Board in the P1 drill. If we are going to be gushing in oil after PI why do we need to merger with a company that produces as many barrels of oil that one man can fill in a few days using a garden hose.
If we were doing a "Question Time" with the BOD there are many many questions along these lines I would be asking but our BOD seem to be hiding under the table.

Unless BPC are forthcoming with further simple understandable information as to why we should vote yes to the merger then I think it will go through on remaining yes votes after the don't knows and the simply complacent take no action.

significance of these RNS's as no one is commenting and the SP still stuck in the mud??

Well not really Laalee because every time 'Arold tried to bring a new member into the family the old man thwarted his every move.

I mean their.

It's hard to say at this point.
A new member of the family has shown up who, until a couple of weeks ago no one knew existed. They will demand nearly a quarter of the estate and so far we do not really know what they are bringing to the table. Will they add to the wealth of the family or will there offering prove to be a dud. Unless the head of the family who invited them in and the incomer make clear there intentions then we will need to wait and see what develops between now and December.
Bit like Downton Abbey

From the late, great Spike Milligan God rest his soul who would have had as good an idea of BPC's future as a lot on here.

On the Ning Nang Nong
Where the Cows go Bong!
and the monkeys all say BOO!
There's a Nong Nang Ning
Where the trees go Ping!
And the tea pots jibber jabber joo.

Jim, I do not say a takeover would happen straight away, even if P1 was successful it would depend how successful then a lot more "depends" after that. I waited a long time for DANA then missed the bus. I do not think Koot or SP would find a problem being at the top table of a major or a National producer.
I also think a consolidation of 10:1 is possible when the dust settles.

IMHO, I do not see a farm in at all. If P1 fails no farm in, if P1 a success BPC will get the money from some quarter to carry on drilling. Then if BPC continue to be successful the SP will rise and a takeover will take place and BPC BoD's will either cash out or aquire a nice number with the buyer... bit like DANA. Just a thought.

Anton, the Tongs might be looking for you including some of my family!!!

PoC, on what evidence do you base your sweeping statement or is it just another wet finger(middle one) into the wind.

I agree with JtK at the moment. As an Oily for more than 40 years, seeing a bunch of guys on the CERP web site stood at the side of a nodding donkey and an SP of 2p does not inspire much confidence in me. A no vote at the moment.
Has the venue for the extraordinary meeting been announced yet?

You only need to look a the SP of both companies to see what people think.

At a glance I see CERP as being a producer of minimal amounts of oil all be it some of which is good quality but they are still making a loss. They have about a third of the amount of shares in issue but the share price is 2p, What does that say for us when we start producing if all goes well(no pun intended).
Simon Potter talks about a workover asset so does CERP have rigs because you only make money if it is your rig doing work for others not if others are doing work for you, that means you are losing money.
Generally I cannot get my head round the advances and advantages here so we need some clear pro's and con's to help with our decision at vote time.
If it goes through I can see an SP consolidation happening 3bill shares a 2.5p does not look good all in my HO.

The reason I am not on is because they could not Findme.....now which one of those 40 is UNCAS???