Member Info for sharegnomie

Is it just me or did anyone else on reading Bpc's RNS think that the announcement that they were to start the drilling Dec 15 and feb 1 would send the share price up? I must say I find it odd that it has had no effect.

Good new, should be good for the share price.

10 p tomorrow folks. Would be nice to see. I assume people have noticed the 100000 share buys. suggests a position, so RNS tomorrow ? We shall see.

The issue is how are Bpc going to fund Cerp's assets after the takeover. Dilution or borrowing. For my position I will be voting no until I get an answer to this question.

JP, The thing you need to understand is its not merger its a takeover (that said. that can be a good thing) in some cases. Now for me if the takeover happens I make money, however there are a lot of Cerp share holders that will not. Here in is the problem. LK made alot of promises to investors and they bought in at a much higher price, so if the takeover goes a head they lose money. LK has put hem in a position where they have no choice but to vote against unless the price goes up a lot. The question is do they have 25% of the vote.

Are Saga lightly to be paying out more or was the 44 million the finish of it ? And if so do we have any idea how much more?

561 bopd is all the accounts say for 2019 that I can find, but I've only just bought in Cerp, You may do better asking over there.

Can someone give a rough idea how long it would take from the start of drilling to producing oil from P1 and or proving its not a duster?

Come on alba start moving up

Do we have any Idea what the voting spit is at the moment for and against?

Just been reading the article, I thought this was of interest to:

CBD retailer, HandpickedCBD.com, says it's seen record online sales of CBD in May.

Sales in that month were 125 per cent higher than in February and website traffic has shot up by 67 per cent since lockdown began in March.

George Vincent, director of Handpicked CBD, says: 'While CBD sales have been soaring since the country went into lockdown, this nascent market was already seeing exciting growth before Covid-19 struck.

Do we have any idea how our online sales are doing?

As we get closer to the vote, do Bpc's share holders think Bpc's share price will go up or down?

Ok
1 The size of the deposits and all the licenses that Cerp holds to drill and extract oil, I think are worth more than the valuation Bpc have placed on them for the purposes of the merger. (please feel free to go look it all up because I'm not going to explain it all.)
2 accounts this was a post to willec earlier
that's easy to answer Willec. he wants to be the big I AM, and the merger is a way to do that, As far as I can tell and I only have last years accounts but assets 31.75 m Liabilities 8.92 ( shareholders 22.93 ) Cerp could borrow money Interest rates could not be better at the moment they are at historic lows. Remember these are land drills they aren't that expensive. plus I thought the drilling company was going to drill and get paid by production.

3 what I have previously said about assets. You really need to watch the video on their web site that will answer your questions on what they know and how inexpensive they think it will be to develop Cerp's assets

4 what bpc have been up is of no relevance to me as I will be out, if may refer you to this post you asked a question about

The well is getting drilled for free no cost there, its pay on production, assuming its successful then one would assume they will drill more, and the price of oil is going up. a bridging loan is all that's needed and then its a waiting game, Oh and surprize surprise Bpc thinks Cerps assets are viable or they wouldn't be going for a merger would they. So there is your viable

Cerp could borrow against its assets to tide itself over for a while and the isn't going to cost to drill, its pay on production and the oil price will go back up. Its already started to, but we do need to see the accounts.

An up to date set of accounts is what we really need to see so we can all draw our own conclusions.

Good point, they haven't yet. but LK did a good job of turning things around and if the wells get drilled and the oil price goes up a bit then not long. Cerp can keep going for quite a while till they come in. All Cerp needs to do is keep ticking along. Drill a well move onto the next one and so on. If you saw LK's interview It just wasn't ticking along fast enough for him.

Willec, It will be a good deal for me if they merge and we get .803 as long as bpc shares stay above 2.4 p. I bought in at 1.9 and will probably sell just before the merger unless I can get a cast iron guarantee that there won't be any dilution in Bpc shares for a while ( 6 months 1 year or till after p1 is drilled ) However, better to look at the whole picture. Can people not see the risk factor to Cerp share holders goes up massively if you merge and a lot of long term Cerp share holders lose money. Plus Cerp is a perfectly viable company in its own right. It doesn't have to merge, This is just what LK wants so he can play the big I AM in another company.

that's easy to answer Willec. he wants to be the big I AM, and the merger is a way to do that, As far as I can tell and I only have last years accounts but assets 31.75 m Liabilities 8.92 ( shareholders 22.93 ) Cerp could borrow money Interest rates could not be better at the moment they are at historic lows. Remember these are land drills they aren't that expensive. plus I thought the drilling company was going to drill and get paid by production.

willec your an idiot if I was a deramper then why would I have posted this:

As I'm sure a most of you are aware there is a lot of resistance to the takeover of Cerp by Bpc. However. If Cerp or Bpc were to offer a share buy back scheme to all the long term share holders of Cerp that paid back at their purchase price, or in other words, buy then out at the price they paid for their Cerp shares then that would sort the problem out.

The two companies would have to sit down and sort out if they could afford to do this. However, they could finance it and borrow against Cerp assets. The amount payable on completion of the takeover and borrowing arrangement.

In effect, the Cerp share holders would loan their share back to the companies for the merger to take place so the companies could vote it though and then get a deferred payment for the original value of the shares.