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Its still there and you are still in it !
If you are invested in Cerp, then what did you invest for ? What has changed apart from adding a very dodgy drill into the plans ?
You are all still invested in Cerp assets and now invested in a 30% chance of success well as well, either that or go bust imo
Is not the problem here as he has done the best that he can with the oil prices, it aint his fault! Loads of companies have gone under and not just in the oil industry. Give the man a break , he has ensured that you / we all have something left to play with.
If POO was $100 pb then we would all be sitting pretty and giving LK big slaps on the back but unfortunately the world thinks different at the minute.
He has a reason to do this and I guess the alternative was that we go bust as LLL has said numerous times that we were burning cash. TBH that was quite easy to see.
The Saffron 1 outcome is difficult to estimate as it has a NPV of $90 million with the drill company willing to suck up the costs of Saffron 2. That tells me that the drilling company like what they encountered as they had first hand experience and were on the ground watching results come in.
So IMO , LK had no option but to take this deal as Cerp and its assets would have gone down the tubes. LK knows as like most here do that Cerp assets are worth more than what has been agreed but I think in this difficult environment , any offer is better than no offer !
My money is still here as no drilling company would open their self up to losses on a second drill after drilling the previous well without knowing all the data .
I am not happy with the merger/ take over., but a lot happier than I would have been if we just went bust which I think was coming next and only because of poo. Like so many other companies that have gone bust because of Poo.
Instead of having a dig at LK , I think you should applaud the man for making sure that you still have some money left in the game here.
Its only my opinion and that's how I see it. You might see it differently .
Was out all day, did I miss LKs media presentation or has it not happened yet ?
I am sure there will be one as Leo has to bum up his shares.
WTF do we all know about CERP the company? answer is ziltch, so will wait on Leo doing a pod cast which must surely come?
Is to blame for all off this, its obvious that Leo could not read between the brackets,.
risk to reward is high, none of us know what is really going on but Big MJ must have more info than us to have already signed off on the merger. I am a wee bit ****ed off at Leo , but in honesty , I could see him bailing as wasn't going to plan. If any of you still believe in Cerp assets then ask yourself , why Leo does not ?
I will take a couple of days to digest this , and then re asses . I know that LK et all have shares involved here, but they must think that Cerp was not viable in the long run so have sold out .
I would expect Leo to do a media presentation to explain this action to us.
A wee bit more for me earlier, not a lot just £1000 worth but its my belief that under .25 it has to be a buying opportunity that can only show profit at some point.
Great work from you and enjoy reading your posts, probably the best that's ever been on here, appreciated !
my average is coming way down .
https://www.theguardian.com/money/2020/mar/09/what-the-coronavirus-market-fall-means-for-your-pension, wow 42% down.
ok, Gunner you are , he was the only one that I said that too as he said he had a mansion and heated pool. How is that going for you now?
Back in the day , oil was on the up and was like $125 a barrel. T&T had no trained oil men so to speak of as they all left the Island to chase riches on off shore fields. Who could blame them ?
So T&T effectively became an Island that was kinda cut off from the oil world as production was not up there.
As its an Island , parts have to be shipped and as its a bit third world , no disrespect there. It has to get parts for rigs shipped in, these rigs are old and they are not metric threads or bolts so American Standard is required which is not that readily available.
So Chesh, is quite right, as a bolt could take 3 weeks to reach the island as its shipped.
Not a clue why he tries to ridicule me for that fact.
Typical reply Chesh, full of nothing . And the 3/4 bolt thing hmm , Not sure if you are Gunner or OAT as that was a long time ago. Thinking now !
Damn it was so long ago !
There was another that I don't remember his name that joined the GREEN ROOM that I lasted a full 2 hours in.
End of the day Chesh, you aint a spark and you have trolled here for years, yes I remember you but cant remember your name .
Of Chesh posting absolute dribble , he has said nothing informative once again and tried to rubbish my knowledge of storage and pipes and engineering as a whole , good on you Chesh , but it is relevant to our industry. Dismiss it if you will, but if you do then why are you invested here if you don't want to understand what is required to make this a successful company?
You kinda look at the SP and nothing else.
You have to look at everything like Bambs does . he understands what is required to make money, after all that's what we are here for?
In this game , knowledge of the company and its territory and infrastructure is paramount.
Chesh , IMO you are more dangerous than OAT , you might even be him .
You don't contribute in the slightest but bombard the BB every day. You say that you work Night Shift, yet you are on here all day every day, when do you sleep?
I call bull**** mate , you don't work night shift , you aint a spark, and you certainly aint knowledgable!
That's your posts up by two and yet still no information on the company pmsl, just like I said you do.
Chesh, I don't think I have ever read a post from you that I thought wow , I never knew that |