Member Info for LGO-fan

even recommended your post....my kindness has no boundaries!

not sure what they “are” is doing here but you get the point:-)

Ha! You are wish :-)
(and even if you, it will never be more than twice in the same tournament! That must be record, btw.)

did I ever tell you that you are my favourite poster ;-)

cheers!

don't suppose you could post the link to register here? Swimming in work....

you may disagree, but the market remains unconvinced judging by reactions and the SP

My read is the following:
1. Yes there is oil in the SWP, however with the low POO there is not enough cash coming in right now.

2. This will lead to paying contractors in share - suppressing any potential SP growth.

3. The time it will take to drill S2, and have a set up for commercial production in the SWP, will be too long for most. It will take us to H2 21 at the very least, further suppressing share growth and momentum.

4. The "big" including LK, have no more patience. Too little progress has been made in far too long a time. The SP reflects that.

5. In comes BPC: by end Q1/21 we will have drilling results in one of the top 5 global exploration areas.

It's as simple as that. CERP does not have the arguments right now to command a better deal. We would have been had SWP gone quicker, but it didn't. The deal we got is a reflection of that, scooped under the carpet by the promising of a SP that will sky rocket closer to the start of P-drill.

All IMHO

5-10p

1. New Contract for Goudron with far better terms, allowing for more profitable BOPDs
2. Test results from S1 (MC), and turning this into a producer
3. Start drilling S2 ASAP
4. Successful CO2-project
5. Concrete Plans for WNZ

there was good operational progress at the time. Sadly the sp tanked when Schroders stared to reduce its holding, and contractors paid in shares did the same. SP went from 5 to 2p. Then CV-19 kicked in and killed the POO.

It was a totally different company and management team. Their drilling strategy was very risky, irresponsible:
- too high costs
- too long lead times
- too high decline rates per well
- company going from equity raise to equity raise
- POO collapsed to $28
- stuck drill
- Company almost went bust.
- 20: 1 share consolidation
Enter LK et all and company became CERP

True, but luckily this company has nothing to do with Lenigas anymore. Not in the last 3-4 years, the company has totally changed, and will - upon completion of the merger - change even more.

they said that was dependent on how the hurricane season would unfold. Fair to say that this is something they do not control. (I know, ...shocking!)

thanks - logic would suggest that if funding was subject to the merger, that the company would have a legal obligation to disclose this. I am not aware that they have, but happy to be proven wrong.

I may have misunderstood but on the BPC presentation/webex they stated they have the funding in place for P1

sorry, found them! ( I hate admin)

loads of documents on the cerp web-site and losing my patience to find the proxy docs. Has anyone been able to locate them, please?

" THE PINK FORM OF PROXY for use at the Court Meeting so as to be received by not later
than 10.00 a.m. on 23 July 2020; and
2. THE WHITE FORM OF PROXY for use at the Columbus General Meeting so as to be received
by not later than 10.15 a.m. on 23 July 2020.

bust

Well, I just wanted to point out the general market context. Even big companies are going busy, and so many smaller ones are going bust and many more will follow. This provides opportunities to buy cheap assets.