Member Info for Starchild

Please refer to CERP's friday RNS at 1310 which I missed: https://polaris.brighterir.com/public/columbus_energy_resources/news/rns/story/rmo57vx

The CERP BoD have very likely known the result of the CERP vote since eod thursday. The votes were mainly electronic via a corporate action, unlike the BPC one which was more manual. If they knew the result was NOT to merge, why bother to issue an RNS friday about both meetings? Under the circumstance, If it was me and I knew the merger had failed, I would have kept quiet and used the weekend to discuss with both BoDs what to do next!

The above is just my opinion and I may have totally misjudged the matter. However I have now marked CERP as a strong buy.

Starchild

Joat: I fully understand why you have filtered out share bashers/de-rampers. The reason I have not filtered anyone is to defend the company from flagrant untruths/fake news. The BoDs cannot defend themselves on a daily basis without issuing RNSs, especially so under the strict disclosure rules during a merger/takeover. However, there is a wider lurking audience behind the scenes needing alternative positive, truthful opinions written in good faith. Ultimately its up to them who to believe, subject to undertaking their own research.

Starchild

Rossannan: ......'So you see this as win / win for CERP whether the Court Meeting vote on the Scheme passes by the necessary majority or (unlikely but not impossible) does not. But which outcome do you prefer?'....

I very much believe the merger is good for both sets of shareholders. In Eurovision speak, 'douze points.' Please refer to my relevant posts since June 12 for opinions stated in all good faith, the key one being alone, CERP is too small and BPC too risky to access corporate funding/long term institutional investment. As a LTH in BPC since 2014, the only reason I bought CERP shares in July was to indirectly acquire BPC ones at a discount. I am not a day trader.

The result of the vote will likely leak prior to an RNS and be evidenced in both BPC/CERP SP spikes. (It happened to BPC on Friday as I predicted). What will be will be, so I hope after Monday, the negative contributors on this forum some who admit to having no shares, accept the decision of the majority or move on.

Monday morning will be quite fun, like watching the results of the Eurovision voting while Graham Norton is taking the Mick.

GLA

Starchild

InterestK. I suggest you say something as today’s posts look like an obituary to a favourite aunt.

A ps to my last post...

As I see it, if the vote fails, the CERP SP will increase especially on the possibly of a re-visited PRD offer (and one other point I will share after monday). If the vote goes through, the CERP SP should increase and mirror 80% of the BPC one which should also increase.

IMHO.DYOR

Starchild

'if you had 5 grand would you buy Cerp before the vote on Monday?'......
yes and i did buy more than that last week, CERP, so i could get BPC shares when converted and i also topped up BPC.

I believe both stocks are currently undervalued and should be more in line with the pre-merger announcement valuation on June 11: 2.67p CERP, 3.33p BPC

But that's just my opinion..
Starchild

InterestK, please stay on here in parallel to the Facebook group. I think things will calm down on this BB soon. You have provided leadership and diplomacy. This BB is one of the only publicly available places new and future investors can use for good, bad, ugly and/or intelligent opinions, which they can decipher for themselves. (The ADVFN BB being a joke).

Hope to see you back soon

Starchild

Findme. Very good point. Perhaps if you email BPC, they can disclose all the voting result percentages to you, and with their written permission allow you to share on both BPC/CERP forums.

If they agree to disclose, and the merger was overwhelming, it implies they may target other companies in the region. If not overwhelming, they may be reticent to do so until after Persv-1 is a success. I don't mind any of those permutations as I fully support the BoD's decisions.

Starchild

Firstly, the merger is not a done deal. We have to wait until monday mid-morning for the confirmation. However, in terms of disappointment by some on this forum, I don't fully understand what your expectations were had the merger never been offered.

My rhetorical questions:
1. What was your medium term expectation for the CERP share price by year end? Based on what events/news flow?
2. Long-term CERP SP? Based on what events/news? (assuming PoO $50-60, and Covid-19 vaccine)

I fully accept some of those disappointed long term CERP holders, don't have the risk appetite to go for the 1 in 3 chance of the Bahamas potential mega ROI. (Arguably the Cos 32% applies to 770m Boe, with better odds for the commercially viable minimum 200m Boe). This leads to question 3:

3. If your medium term expectation was a 5p+ SP, more than double the current, could you not reach this goal as BPC heads to spud?

Starchild

BPC RNS just out...

Bahamas Petroleum, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, is pleased to announce that at the Company's Annual General Meeting held earlier today, all resolutions were passed with the exception of Resolution 3.



Resolution 3 had proposed the expansion of the Company's available pool of employee options for future allocation at the discretion of the Board. Those employee options had been proposed with performance hurdles linked to delivery of value-creating business objectives, an exercise price in excess of the current share price, and a resultant aggregate employee share pool of less than 8.5% of the Company's fully diluted share capital. In the Board's view, this thus constituted an entirely normal employee option proposal, designed to align the interests of employees with shareholders, and comparable to arrangements in place at many similar companies. It is for this reason that the Board had unanimously recommended Resolution 3 to shareholders. Acknowledging the lack of shareholder support for this resolution at this time, the Company will seek to develop alternative incentivisation strategies, so as assist in ongoing processes to recruit, incentivise and retain high-quality employees.

Starchild

It is very likely the BPC BoD (and CERP BoD) already have indicative voting results based on institutional investors feedback and retail nominee providers such as HL/II/Halifax etc having already provided the data yesterday. This is not the Oscars' ceremony whereby a seemingly excited celebrity opens a secret envelope and announces the result within 30 seconds.

The results of the 2019 BPC AGM was RNS'd at 13:34 on 17/9/19. We all await news, some of which potentially may leak within an hour of the 1000am meeting as indicated by SP movements.

Have a great day
Starchild
xxx

It is very likely the BPC BoD (and CERP BoD) already have indicative voting results based on institutional investors feedback and retail nominee providers such as HL/II/Halifax etc having already provided the data yesterday. This is not the Oscars' ceremony whereby a seemingly excited celebrity opens a secret envelope and announces the result within 30 seconds.

The results of the 2019 AGM was RNS'd at 13:34 on 17/9/19. We all await news, some of which potentially may leak within an hour of the 1000am meeting as indicated by SP movements.

Have a great day
Starchild
xxx

Irene dear, please leave Willec's willy alone. He's my buddy and I don't wont him distressed.
xxx

Findme: I totally agree with your comment. 'If I [The CLN holder] had 120 million shares in BPC I would be taking the advice of much more clued in individuals than you or I.'

Have a great day. I'm in meetings for most of the rest of the day

Bully, re your somewhat silly post...'Many political contacts lol. Does your missus run the PTA?' My responses are:
1. I do have many political contacts, otherwise I wouldn't have stated same.
2. My wife doesn't run the PTA. However amongst her skill set, she is a very clever dog breeder who recently managed to mate a bulldog (male) with a shih tzu (female). The resulting amazing new breed of puppies are called bull5h+ts....similar to most of your ridiculous fake news posts.

Have a great day. I'm in meetings for most of today.

Starchild

Findme: On 4th June a CLN for c120m shares was paid in full. I suspect most days since then they are disposing of these shares. Recently it appears the same seller is attempting to sell 2m shares at every auction. The financial institution who got these shares at 1.27p is likely liquidating in an orderly fashion as they are not speculators in oil explorers and have made it like bandits even at 2.2p. How many shares have they sold since 4/6/20, I don't know. However they will soon run out. If it wasn't for these disposals at 1m-2.5m per day, the SP would be higher. This has been compounded by short sellers in the last 2 weeks who appear to have got the SP down. That is just my theory and I may be wrong.

The second part of your post has been discussed in full by everyone over the last few weeks. I fully respect you voted against the merger even though I personally disagree. I agree if it wasn't for Covid we would have drilled by now, however in my opinion this ghastly pandemic created an opportunity for BPC re CERP (and potentially other mergers in future) to (a) merge at a good price and (b) open the door to better Persv-1 funding options post merger. Again that's just my opinion.

Starchild

Wakeup2: Welcome to the LSE forum. I think the folks on here criticizing BPC (and/or CERP) DO NOT hold any shares, and are trying to talk the price down.

As I've stated before and so have many others...
Warning: Always DYOR. Never trust apparent experts (including me), especially if they are shorting a stock by bombarding forums with page upon page of negative opinions. Who in their right mind would constantly talk a share price down in a company they invested in? Why would they spend many hours doing so? Is it out of public service as unpaid volunteers to help others or for their own manipulative objectives? Always click on the name of a poster and check the links and research s/he has provided. Better still get independent professional advice. I am starting a campaign by lobbying my many political contacts to get these forums regulated to avoid unsophisticated private investors who occasionally read BBs, getting fleeced.

Starchild

A lot of energy has been spent discussing a theoretical 1.8b BPC share dilution excluding the CERP merger’s additional 800m shares. (tomorrow’s AGM vote resolution 2). See https://www.bpcplc.com/wp-content/uploads/2020/06/BPC-Form-of-Proxy-Final.pdf

Just to be clear, BPC shareholders already voted in favour of the 1.8b shares in the 2019 AGM, and the latest resolution extends the possible use of these hypothetical additional shares by 1 year until end 2021. In fact 200m-300m shares have already been allocated via CLNs, Bahamas fund etc.

Although I remain confident both CERP/BPC AGM’s will pass the merger vote, as I see it IF CERP says yes and BPC says no, the BPC BoD already has a mandate to use up to c1.5b remaining shares to fund Persv-1. Indirectly, funding could include using 800m + 80m (CERP Debt) out of this 1.5b pot to merge with CERP, IF IF IF…….corporate financing (such as loans, bonds etc), or a JV/farm-in involving less than c500m CLN shares, can be agreed very quickly.

The above are just my thoughts and I haven’t checked the matter with our external commercial lawyers at £600 an hour. I have stated this not to create further arguments on the pros/cons/probabilities/possibilities of dilution or the CERP merger. I think we have beaten both those poor donkeys to death. It is to show a roadmap of possibilities in the unlikely event the BPC merger vote fails.

We’ll know tomorrow, perhaps by lunchtime. If we see both BPC and CERP SP spikes before an announcement, it is likely someone at the AGM has SMSd a trading buddy to buy, buy, buy.

IMHO. DYOR.

Starchild
xxx

A lot of energy has been spent discussing a theoretical 1.8b share dilution excluding the CERP merger’s additional 800m shares. (tomorrow’s AGM vote resolution 2). See https://www.bpcplc.com/wp-content/uploads/2020/06/BPC-Form-of-Proxy-Final.pdf

Just to be clear, shareholders already voted in favour of the 1.8b shares in the 2019 AGM, and the latest resolution extends the possible use of these hypothetical additional shares by 1 year until end 2021. In fact 200m-300m shares have already been allocated via CLNs, Bahamas fund etc.

Although I remain confident both CERP/BPC AGM’s will pass the merger vote, as I see it IF CERP says yes and BPC says no, the BPC BoD already has a mandate to use up to c1.5b remaining shares to fund Persv-1. Indirectly, funding could include using 800m + 80m (CERP Debt) out of this 1.5b pot to merge with CERP, IF IF IF…….corporate financing (such as loans, bonds etc), or a JV/farm-in involving less than c500m CLN shares, can be agreed very quickly.

The above are just my thoughts and I haven’t checked the matter with our external commercial lawyers at £600 an hour. I have stated this not to create further arguments on the pros/cons/probabilities/possibilities of dilution or the CERP merger. I think we have beaten both those poor donkeys to death. It is to show a roadmap of possibilities in the unlikely event the BPC merger vote fails.

We’ll know tomorrow, perhaps by lunchtime. If we see the SP spike before an announcement, it is likely someone at the AGM has SMSd a trading buddy to buy, buy, buy.

IMHO. DYOR.

Starchild
xxx

Bully: read my posts again. I am not your PA or kindergarten teacher to have to spell them everything out in baby language. Please do not continue this argument any further otherwise I will copy/paste previous fake news you have provided on the BPC BB. If you still do not have shares in BPC or CERP speak to a financial advisor as in my opinion it is a good time to buy if the merger happens.

Stand down and so will I.

Starchild