Member Info for Spiritefan

Jgbb it would be best if you read the RNS that sets out all the terms and timetable of key dates. EGM’s are set for 3rd week in July. With regards to sp pre-spud this is the subject of much conjecture. In March I was betting on 7/8p but now I’m in the 5-7p range.

POC , I agree that there is more expertise in the BPC team to prise more production from CERP assets, with little need for any large scale expenditures. SP might not be the most charismatic CEO but he’s an oilman through and through, hence his appointment by Alan Burns. He has worked on Trinidad during his time at Hardman and I’m sure this was a factor in the merger.

Hi Jim, the majority of Simon’s options were for the 16 month period when he was working for 10% cash and 90% options. When this deal ended in August 2018 he wrote off $2m of pension benefits. To me, this was commitment enough so for me, we are in it together, but just my opinion.

Starchild, I have to agree with Laallee. Your messages are starting to become intrusive. Let people make their own minds up. For those who haven’t seen the presentation on the BPC website I would commend it. It provides a detailed summary and analysis of why this deal is being recommended by both Boards.

I think latest RNS Illustrates why CERP need BPC (or a similar partner) as clearly there are cash flow issues. Presumably this gave BPC a strong hand in negotiations.

Truthful, it’s called BPC Shareholders (imaginatively) . There’s a couple of rituals and initiation ceremonies but most applicants normally recover after a few weeks! ??

Laallee- the secret is safe with me.

Starchild, there are 1000 members of the FB Group and I personally find it an excellent forum. It would be very unfair to express a Group opinion given that there are many members who do not post on a regular basis and those who do, do so in confidence.

I’ve been invested since 2012 and will be voting YES.

Regarding why SP had just arrived in Oz prior to interview, could this be because of Trafalgar Capital. We are dealing with the HK subsidiary that has main office in Sydney. They are providing funding to pay off Lind loan, at a cost of 80m shares.

*go ahead! Apologies!

I take it everybody has read this? The “merger” is going to gapp, one way or another. Have a good evening all.

Came across very well imo, impressive guy. I also thought interviewer was much better than many I’ve heard recently. He’s a very experienced oilman, will own 1% of enlarged company so fully aligned and will bring additional expertise to the Board.

Yes I do. I’ve met both of them and have no reason not to. I met Eytan on holiday in Botswana in January and was very reassured. If I didn’t trust them I would sell my shares and move on. Wouldn’t anyone ?

Bonum, Potter and Uliel have NOT been duplicity. Not only have they not used the phrase in every statement in recent times, the March statement made reference to the particular circumstances brought about by COVID which, sadly for some, has produced difficulties which others are able to benefit from.

Bamps, you have to make some effort to compare like with like. Sure, bpc has over the years invested $100 m or whatever to be in a position where it’s ready to drill. The drill costs have reduced and are now $25-30m . CERP would (I hope) also spent money on R&D before drilling. Both Boards see benefits to this deal or it would not have been recommended.

Technically a merger, but in reality a takeover. It’s cleverly constructed. Buying CERP in the light of today’s sp movements is an interesting opportunity.

Willed, this is true but when you look at composition of new Board you get the picture. He who pays the piper calls the tune....

The higher the BPC price the better it gets for CERPS!

It’s being paid for by issuance of shares. Last years AGM gave the Board significant powers to issue new shares.