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I suggest Vote YES to the deal. A fund manager has just done an RNS under AIM rules disclosing 1%+ ownership. Others could follow including hedge funds as they tend to do so in herds.

those that want to vote NO and dumped most of their BPC shares yesterday and this morning, have perhaps regretted it and trying to talk the stock down so they can buy in again.

See RNS. Despite negativity on this forum by people who have probably sold and want to talk price down, Finn has just disclosed 1% ownership as of a few mins ago

If you were the wealthy Swedish family that owns the Stena sphere (see wiki) conglomerate:
1. Would you be tempted to do a JV/farm-in for the rights to use Stena drilling/and Stena oil tankers (on eventual success)
2. How much would 4 spuds cost across BPC and CERP prospectivity acreage in real money assuming no profit. $10m instead of $25M per spud?
3. Would you be tempted to have a flutter and risk $40-50m in real money to fund 4 drills in return for a potential huge ROI if just 1 well was a success? Or would you let your exploration drill ships lay idle hoping a major would rent them in 2021 at the going rate?

PT, that sort of arbitrage happens all the time in an M+A situation, however the speculator could be left holding the baby if the deal fails, or further news is negative for either or both stocks.

If you were the wealthy Swedish family that owns the Stena sphere (see wiki) conglomerate:
1. Would you be tempted to do a JV/farm-in for the rights to use Stena drilling/and Stena oil tankers (on eventual success)
2. How much would 4 spuds cost across BPC and CERP prospectivity acreage in real money assuming no profit. $10m instead of $25M per spud?
3. Would you be tempted to have a flutter and risk $40-50m in real money to fund 4 drills in return for a potential huge ROI if just 1 well was a success? Or would you let your exploration drill ships lay idle hoping a major would rent them in 2021 at the going rate?

PI: Excellent summary. I would add there's a possibly a JV is in play behind the scenes. I also believe the BPC BoD have shared this intel with the CERP BoD under NDAs that border in severity to the official secrets act.

2.3 to 2.7 is MMs initial spread at 0730, however there are another 6 MMs who will show Bid/offer before 0800. And direct market folks at 0750+

Harry Buddy: Just chill out man. If you have 4m shares you plan to dump today, the price may not bode well for you (especially on a day there is Covid-19 nervousness ), even though there are many potential new buyers who believe in the merger

Harry: Respectfully, if you think it 'sucks', then sell! Unless you already have and are talking down the price to buy in again. Why take your anger out on existing long term holders who are not day traders?

Harry your are bombarding the forum talking down the SP. This is not helpful. Sell up, but why bombard with so much negativity?

In my opinion there are 2 underlying key reasons some persons on this forum are upset with the proposed merger:

1. They want a binary outcome to the Perseverance drill and are not concerned that if it is a duster, the SP would collapse. They are willing to bet on odds of approx 1 in 3 with the chance of winning big. If the merger happens, the winnings will be diluted with the new Columbus shareholders.

and/or

2. Some BPC investors are not interested in long-term and are banking on making a nice profit up to and during spud. If the merger happens, they are concerned their ROI until spud, and their exit strategy will be affected.

I am baffled why there is any other plausible logical reason for most of the negativity. The BPC BoD did not make this decision and approach to Columbus to annoy us. There is a lot happening we do not know about. Incidentally some Columbus forum posters are also annoyed . They think 'we' at BPC are getting their assets too cheaply.

i have bought stock 14 times since 2014 between 1p - 4.2p. I have not sold as I am not a day trader. Please read my prior posts why I believe in the BPC BoD,. About to go to bed.

I'm a regular on the BPC forum. To assist your forum on BPC intel a summary is presented below. It is worth the 60 minutes deep dive that you can make informed investment decisions.. I have not included anything from the merger RNS announcement of today.

1. Listen to Simon Potter (BPC's CEO) speaking about the new Uruguayan exploration license announced in an RNS June 2020. 12 minutes. https://castbox.fm/x/1GPRA

2. 'Bahamas Petroleum Company PLC's (LON:BPC) Eytan Uliel speaks to Proactive London's Andrew Scott after inking a rig contract for its Perseverance-1 exploration well which is slated to start potentially as early as the fourth quarter.' May 2020, 12 minutes. Watch https://www.youtube.com/watch?v=FfU_9wVTndo

3. Excellent slide show (14 pages) giving elevator pitch. Read https://www.bpcplc.com/wp-content/uploads/2020/02/BPC-Proactive-Presentation-website-20-February-2020-FINAL.pdf

4. Very informative 'deep dive' by industry expert Dr Zac Phillips. February 2020. Read and watch https://www.proactiveinvestors.co.uk/companies/news/912143/bahamas-petroleum-company---countdown-has-begun-912143.html/long

Please refer to my previous posts and other long term BPC holders who have undertaken substantial research and held the stock for several years, such as I. I am of the opinion a lot is going on behind the scenes under strict confidentiality agreements, such as funding for exploration (I think a JV with Stena or a major), otherwise the Columbus BoD would not have unanimously agreed to this deal and instead would have broken down into hysterical laughter when approached.

I very much believe in BPC and its Board, however you have to make your own investment decisions. Have a great day.

For the new folks on this forum trying to get intel on BPC, It is worth the 60 minutes time to learn or to be reminded so that you can make informed investment decisions.. I have not included anything from the Merger RNS announcement of today.

1. Listen to Simon Potter (BPC's CEO) speaking about the new Uruguayan exploration license announced in an RNS June 2020. 12 minutes. https://castbox.fm/x/1GPRA

2. 'Bahamas Petroleum Company PLC's (LON:BPC) Eytan Uliel speaks to Proactive London's Andrew Scott after inking a rig contract for its Perseverance-1 exploration well which is slated to start potentially as early as the fourth quarter.' May 2020, 12 minutes. Watch https://www.youtube.com/watch?v=FfU_9wVTndo

3. Excellent slide show (14 pages) giving elevator pitch. Read https://www.bpcplc.com/wp-content/uploads/2020/02/BPC-Proactive-Presentation-website-20-February-2020-FINAL.pdf

4. Very informative 'deep dive' by industry expert Dr Zac Phillips. February 2020. Read and watch https://www.proactiveinvestors.co.uk/companies/news/912143/bahamas-petroleum-company---countdown-has-begun-912143.html/long

Please refer to my previous posts and other long term holders who have undertaken substantial research and held the stock for several years, such as I. I am of the opinion a lot is going on behind the scenes under strict confidentiality agreements, such as funding for exploration (I think a JV with Stena or a major), otherwise the Columbus BoD would not have unanimously agreed to this deal and instead would have broken down into hysterical laughter when approached.

I very much believe in this company and its Board, however you have to make your own investment decisions. Have a great day.

To me it's a simple binary decision. Those that don't like the deal: sell up. Those that do: hold.
The market is as totally confused today with huge buys/sells. There's the yes camp and the no camp.
Anyone not sure what to do, I suggest they await further news, as I believe this is part of a larger chess game. BPC BoD cannot play the next move unless both companies shareholders agree to merger. It's up to you. Karma.xxx

https://www.oedigital.com/news/479262-bahamas-petroleum-columbus-energy-propose-all-stock-merger

and we get producing oil wells!

I really cannot understand the negativity in many of your posts. Did the BoD wake up a few weeks ago thinking, 'let's create a lot of hassle and uncertainty', 'let's annoy our shareholders'. Or is there a mega chess game going on, and we've only seen a few moves, to create value for shareholders and risk diversity?

I have not done a deep dive on the RNS yet as it took everyone by surprise. I see this as the old game of monopoly. We have one hotel on Mayfair and now with Uruguay and this deal, more houses and hotels for others to land on. It means there is more leverage to do farm ins and JVs with Stena who can do the drilling. The sum of the parts is greater than the whole. I think other deals are in the pipeline with small explorers via BPC.

Time out guys: i think it's a great leverage to JV with Stena: drills galore, spread risk, sell a percentage of well prospects rather than share dilution

Everyone is stunned. RNS needs to be studied in full. Expansion by merger is usually good