RE: Until we get an update from the company....29 Jun 2020 16:02
I agree Bryn I also see valid arguments on both sides and I think it's important to take a holistic view of the merger situation until we have further updates.
Jim is right to question the dilution and business case as this could potentially change his attitude to his investment strategy.
Personally I think things will be unfolding behind the scenes that will hopefully justify the merger and explain clearly how and why it will be not only cost effective but provide positive cash generation for the drilling of P1 that will be preferable (cheaper) to the funding we currently have on offer.
As it stands at the min the merger leaves lots of what if's that need answering. it looks like BPC carried out due dilligence and said, yeah we can increase production of CERTS current assets here and there sufficiently to satisfy requirements set by potential institutional investors who are sat waiting.
They haven't took this decision on a whim and must of liked the business case that was set before them during merger negotations.
Hopefully we will be told what that business case is in the near future to satisfy and explain exactly why the merger should be voted in. That includes anwering the valid and relevant questions asked by Jim and others.
IK you never put kisses on my last post like you have with others and I have never tried Amarone!
Am I in for a treat?
Hopefully more news before end of next week. Good luck everyone, stay safe and look after each other.
As it stands at the min it looks to me like BPC have