Member Info for rossannan

bynari

Or I could simply be a PI calling out Starchild for a take on CERP that arguably bears little relation to reality. As I have said before, Leo Koot’s endlessly revised ‘Roadmap’ took CERPers from roughly 2p to, even right now, the equivalent of something less than that. CERP (like LGO/Leni before it) was always about to happen but never did. Bigmj has made the good point that the merger offers former CERPers with significant liquidity to sell into when they deem that the time is right. BPC is a much cleaner and clearer (albeit riskier) proposition - CERP has rightly been relegated to the sidelines. Let’s keep it there!

Starchild

In other words the CERP assets are barely even a sideshow. P1 is all that matters here.

Starchild

“a potential £500m market cap company”

CERP was never really a potential £500m market cap company. Leo Koot’s roadmap was just empty rhetoric - it was not a victim of the oil price and Covid-19, it was never credible in the first place. CERPers realised long ago that Leo Koot is more of a salesman than an oilman.

Spiritefan

Every reality check, whatever form it takes, counts.

Lancygeo

“The Company vision was captured in the ‘Roadmap’.”

The endlessly revised ‘Roadmap’ took CERPers from roughly 2p to, right now, the equivalent of something less than that. Is it not time to put the cult of Leo Koot to bed?

Donald.Trump

Hope you’re feeling better soon.

Bespoke

“Safe to say a vast marjory were placing shares getting flipped for an easy 5-7%”

Alternatively, a vast majority could just have been PI traffic: folk buying in on the back of some long-awaited clarity on funding or getting stopped out on recent purchases in the 3s. It’s not really safe to say.

Interrupted my hols this morning to pay 0.21p more than I did last time, but hopefully worth it for some clarity on funding.

Rp11ace

No-one is saying that the funding will not be forthcoming or that Stena are mobilising on a wing and a prayer. The question is not whether the funding is going to appear but where it is coming from. I have even tweaked the wording of onlybpc’s original question to emphasise this distinction.

It is an important distinction. Stena could not care less where the funding appears from, as long as they are happy that it is going to appear. But shareholders should be interested in where the funding is coming from, for reasons that we all understand - some scenarios are more shareholder-friendly than others.

Time will tell. It will be interesting to see where we are when I get back on 5th October.

Good luck all.

Ross

willec

Agreed. Back to Galloway with them!

Oultonmike

I wish! I have had very little time for trolling in between packing for my holiday and associated chores.

Interestingly, 93% of Spreadex clients with a BPC position are long. There’s having unanswered questions and then there’s being one of the 7%!

Not for me.

keith1

You have a point there - when the macro outlook is less than rosy something that offers hope value and plenty of news flow can hold up very well compared to a known quantity like a bank or airline or the like. This is one of the reasons I piled back into ORPH the other day.

dubed

Again, it’s not about an entry price so much as clarity on funding. I was happy enough to take a small position when BPC was at 2p without having that clarity, but I knocked that on the head when the macro headwinds started blowing again. My fun portfolio is pretty fully invested in pharmas, gold miners, new tech and other O&G right now, so I will not be making room for even a small position in BPC without such clarity. But even if a substantial placing was announced on Monday, I’m not sure that would ultimately prevent your pre-spud bag (given the clarity that such news, however unexpected in some quarters, would bring).

dubed

What are the options that have been secured at this stage, apart from BPC’s diminishing bank balance? As far as the market is aware that bank balance is the only option under BPC’s control. The other options depend on third parties deciding to play ball - Stena, Bizzells, the Family Office. Of course, BPC can always use the AIM ATM, which I am sure Stena appreciate and which may have facilitated today’s RNS (an RNS which in turn facilitates any such trip to the AIM ATM)...

dubed

Asking "where's the $25m coming from?” is not about deramping, it’s about the information necessary to weigh up the balance of risk and reward. That’s what I’m holding out for, not a share price.

NellyB

Is that not more about the distinction between fees paid to Stena and expenses borne by BPC?

onlybpc

If you think the two CLN funding sources are some kind of backstop and that better funding is on its way, why is this not at 5p?

Oultonmike

No doubt they can see the funding, but the market is still waiting. As I have said before, the question is how, not whether.

dubed

I have missed a couple of great trading opportunities, certainly, but I have read all the RNSs and it is crystal clear that the next one needs to be about funding.