Member Info for Prospect-

Star,

Appreciate your enthusiasm for the merger.

As you stated : "Leo Koot, a seasoned oil man was very impressed with the data-room. " - BPC data.

Therefore, vote against the merger.

Can Leo Koot produce equally impressive data from CERP?

Interesting reading the CERP forums that some CERP holders are acting like they have pulled a fast one over the BPC BoD. I think the BPC BoD have coverted into hippies and are tripping daily under the COVID19 Bahamas sun. Sharing is caring and all that. Let's all start making daisy chains. BPC might as well be a charitable foundation and involve the whole of AIM shareholders into the pot.

Time to take a chill pill and rethink.

Star,

My view is that to find this Bahamas oil you've got to do a Cortés and burn your ships. You've really got to go for is with no opportunity of an exit or distraction. I think any opportunity of an exit would result in drilling failure. If you're looking to jump on a ship and head back to comfort you just won't have the same dedication. Potter should stop looking at side issues and get on with the job at hand. It might be tough, but the gold is down there. Find it.

toldo610.

Think the BPC BoD got intertwined and affected by COVID19 psychology. BPC were on the very verge of drilling. We all know that COVID19 got in the way. The drill will go ahead regardless. Any merger/takeover of CERP is just a COVID19 suppressed mind play that made the BPC Bod lose focus. Time to scrap this distraction. Koot's can always resign the CERP BoD and join the BPC BoD - sure there is room for him - should the merger/takeover fail.

I will be voting against the merger for the reasons previously stated. I like Koot's and CERP as a separate entity should I wish to diversify into CERP's. I just do not think CERP offers enough to be let in on the opportunity and potential that the Bahamas exploration gives. After all, we are talking Mid East size structures in the Bahamas. CERP's does not match that. It would become a needless side issue overtime and something that does not. I hold the view that the BPC BoD should remain focused on the Bahamas. I invested in BPC when BPC moved out of the opportunities offered in The Falklands for the larger potential in the Bahamas. It was one of the triggers that got me interested in the company simply because everyone was raging about the Falklands potential. So, I see this move, with CERP, as retrograde motion and a needless distraction.

Harry,

Got to confess, I've been up since 5:30 trading FX. Was down overnight and just managed to trade back and finish small up on the day. Even when I was trading futures on the LIFFE floor and then on EUREX I was never as shattered as I feel now. Must be getting old. I just came on here to check how my BPC was doing and making comments on the merger as a distraction and also to feed off other investors and get their views. Never buy the all out positive or all out negative posts, but since we can't go for drinks round the City these days and talk, gossip, etc., like to good old days all we have are these forums. It's good to see that everyone is still up for it when it matters. All good fun..

Take care and I believe your still holding a position here. To wild to do so and to wild not to be in this roller-coaster. Wouldn't have it any other way.

IBLONDON,

That's an even worse argument to make for a propose merger. Surely, the sensible money will be looking over the fine details in the print. My guess is that the no vote is gong to be significant. This is shaping up to be a merger on a shoe string. The dynamic duo Koot & Potter are going to have to offer more... just an observation...

willec,

For the exact same reasons that Koot's stated in his recent video interview that made him favour the merger with BPC is the reasons I'm inclined to vote against. Having looked at CERP's & Koot I do like them. I would rather hold them in a diversified portfolio mix as separate entities. I don't see the sum of the parts being less than then the sum of the combined group. Rather I see the sum of the parts being worth more than the sum of the merger. If the two parts had already been one entity I could see the rational in breaking up the group into it's parts. CERP's would be successful on it's own and growing organically benefiting shareholder and BPC would be successful with it high octane exploration in the Bahamas benefiting existing shareholders more.

The BoD needs to be more convincing to carry this merger through. What else doe it have to offer?

Yonny,

Koot's recent interview didn't convince me as a BPC holder that the merger is something to vote in favour. Could see the point from CERP (even if the view with most CERP shareholders is a bird in the hand is better than two in the bush). Let's face it, what they are getting from the BPC merger is higher risk and most CERP shareholders avoided BPC on that basis.

The view I hold is if Leo Koot's was bitten by BPC data and potential (someone like him wouldn't jump irrationally into risk) then why is the BPC BoD (Potter et al) sharing the spoils.

I can only conclude that:

(1) Either Potter is not convinced by Perseverance 1 being successful and like a snake oil salesman dangled a carrot on Koot.

Or,

(2) Potter & the BPC BoD have been converted by Mother Teresa ghost and have decided that caring is sharing, etc. Perhaps, they coverted to picking Daisy Chains and are now tripping like Hippies.

Or,

(3) Koot's had a secret plan to uncover some major oil structures with CERP's licensed area which made the marriage with BPC blissful over the longer to median term.

Thoughts , Gentlemen.... we can only speculate....

Good point Harry. It's not credible that these discussions had been going on for months to the intensity required to make a merger. More like Covid19 was the spark that enabled this proposed merger to the intensity required for the present. If the BPC BoD had convincing enough data for someone of Koot's caliber to jump on board then surely it begs the question why share the spoils. Makes no sense presently. Can see the logic with CERP. Can't presently see the logic for BPC.

If you had a pot of gold tucked under the bed would you knock on someone's door and invite them to share? Of course not. You'd guard it securely.

So Koot and BPC what you hiding? What gems has CERP got that makes you share?

There's no doubt that Koot has been bitten by the BPC seismic data as we all have and many LTH for years. I'm not sure as to why BPC decided to let CERP into El Dorado. It seems to me that Koot was honest enough to confess that CERP were severely impacted by Covid19 whilst BPC had already mitigated the impact. I'm not sure, therefore, why BPC decided to share the pie. Is there something else which CERP offers that we have not been made aware of? Koot admitted that CERP's discoveries where of a much lower scale than any potential discoveries in the Bahamas. It's all very puzzling. Was this a deal struck between Koot and Potter over a few G&Ts and who got the better deal? Looks like Koot to me....

Disagree that a Farmin agreement can't be reached. With the right agreement it could occur, especially with the proposed new merger going forwards and the acquisitions of new licenses. There is everything to play for. To rule out a Farmin, point blank, with all the tea in China lined up, would be un-business like. With the right Farmin agreement everything could turn on a penny. Keep an open mind. BPC keeps a tight ship.

Gents,

I'm not nagging HERE. Been doing 24 hours trading on FX markets for past 6 weeks (long story) as equities seemed to be doing one. Think it was only yesterday I popped round here to see how BPC was doing and Bonum et al were screaming blue blooded murder over the merger/takeover CERP. At first thoughts dilution struck my mind, but after doing some minor research into CERP I ended up more positive than negative. We're going from being a one trick pony (albeit a very promising one) to an Atlantic/Caribbean multiplayer. During the course of these tribulations I went from being an investor to wishing I was in Monte Carlo having a flatter to being an investor again. Then I came on here and there is over 240 posts to read. Bleeding heck is all I can say.

Still think there is more to run on this story and we haven't heard the last of it. More RNSs to be released. BPC keep a tight lip and the suspicion is more is no the way - on balance positive. A farmin has to be on the cards. Discussions have been ongoing for years. I'm somehow convinced the ink is getting dried on an agreement right now and it's been pinned to the washing line to dry out in the Caribbean Sun. We can only speculate.

Have a good weekend and break a leg whilst you're eat it.

Right where has my G&T got to and not going to read all these posts that's for sure...

CERP shareholders are negative, by in large, because they see BPC as a one trick pony. LGO ****ed most off BIG time, but doing more research on CERP & Koot seems like a good BoD member for CERP. Why would he get in bed with BPC? It seems like the one trick pony has something up it's hoofs after-all. lol

https://www.youtube.com/watch?v=H1wlRmBJEig

Harry,

You have to decide what's best for you and if you're in profits and close then that's good. I've been in BPC for 9 years. I'm holding on the basis that I still don't fully understand what the BoD are doing until I do more research. Perhaps someone can explain it all in plain simple English apart from the obvious. We're not privy to inside information. BPC down 22% means it's sour grapes. The market doesn't rate Columbus Energy Resources plc as good for BPC. The BoD has a lot more explaining to to do... imho.

It might go up on basis of Farmin. Since, I'm beginning to think that all I have ever done through my entire life is gamble even though I foolishly thought I was trading and/or investing I'm putting my chips on a farm RNS imminent. lol

Celtic,

Tell me what CoS is over 50%. Anything below 50% is always a gamble never an investment. We go on endlessly about being invested. It's all BS. Over 50% is an investment below 50% always a gamble.

Assuming this goes ahead, which always happens in AIM rarely blocked, then we have chips with less face value. The house has cheated us right royally. Question is do we stick or withdraw? Or do we martingale and double up?

Potter will have to pull a rabbit out of his hat and let's face it magicians always have a rabbit tucked under his magic-coat.

Page,

Agree. Tip of the iceberg. An interesting play. I've always been twitchy with putting all my chips on one number in Roulette. Let's assume we are now all gambling and now we place our chips on a group of numbers. Makes more sense. Why sell when previously we had a chips on a single number.

Sometimes it's better to blow cash in a casino at least you'll have more fun.

@Phoebus,

Nothing wrong with putting on a hedge. I would be more skeptical if oil wasn't on the floor and opportunities didn't present themselves. I've yet to find one AIM that didn't shaft shareholders with dilution.