Member Info for Zebra04

Thebhoys, if Bpc don't accept the $1.75mil, what do you propose the Bpc board do with fram? It has already been water flooded and produces little bopd. Needs tertiary recovery.
Without co2 eor, it is just another spent field.
Prd has exclusivity to Trinidads surplus co2 and other fields it can apply the tech to.

Cash goes a long way when you've waited 10 years to fund a drill.

@chesh
Omj thinks the board will accept the offer post merger.

Was that not obvious from his post? Wow.

Of course lk is joining the new board. He continues to get a salary at share holders expense. When he has little to justify the past 3 years salary.

Oilman Jims perspective,

The CERP merger with BPC does appears to be happening though. Bahamas’ shareholders gave their approval on Friday; the Columbus shareholder meeting to obtain approval is tomorrow. Key for investors here now is how everything is going to be financed and I think the BPC board, who will end up in control, may be quite happy to do a deal for FRAM on PRD’s terms.

Expect Bpc to accept PRD's offer once they take control. They will more than likely asset strip to fund perseverance 1.
With the ongoing global economic crash, assets are being purchased at below market value.
Lk then went and put his hands up and said he couldn't continue the 5 year plan due to covid changing the landscape.
An astute board would've been able to navigate the new landscape and make the most of the opportunities that present themselves.
The market has taken that as an admission of defeat and the the sp has tanked. Prd will approach it as purchasing a distressed asset.

The board here can't afford to pay themselves or contractors and have to keep issuing shares and diluting share holders. It would be ridiculous of them to turn down 1. 75m cash for an asset that without eor is of little value.

Like mem said the board owns close to 30%. They've no intention to sell so early at low prices.
Also 10p would only be a £24m mcap, if Bpc had that sort of money they would have drilled perseverance 1 by now.

Agreed wacky. Our flow test begins by the first week of august. All LTH have been waiting a very very long time for the results. (They were due last summer). We know co2 EOR is proven tech but once we have the results it will be a huge milestone for the company, boosting its credentials. We will also finally be generating revenue.

next 6 months should be transformational for the company.

I have to agree with GRH.

The initial offer was refused because cerp can't dispose of any assets until after the merger. It does not mean they won't accept that price post merger.
One of the main reasons cerp gave for the merger and changes to thier 5 year plan is covid and how it has resulted in a difficult environment for them to operate. The same reason can be used for accepting a lower offer for fram.
Innis trinity field is currently producing low volumes of oil, without co2 eor it is of little value to Bpc. We have locked down all the co2.
For the Bpc board they either accept 1.75m cash from us or continue to hold a field that will give them little returns. The cash can go towards thier offshore drill.
In our offer we made it clear to cerp that we have other viable alternative fields to apply our co2 eor. So walking away from fram is a possibility. However I can't see Bpc rejecting the offer.

There's probably a large sell or two that are not showing yet as the price to buy has fractionally creeped down despite all the buys.

Most the trades showing marginally above 4 are buys.

For those lurking.

Many many posters have been chased off this bb. If you post an opinion not in line with the rampers, they will go deramp/spout nonsense on the bb you are invested in.

Its pathetic. I saw how many long timer admirers of bamps treated him once his opinion changed with the merger announcement.

Chesh you can't even defend your own investment and detract to posting about another company. Discussion is on cerp.

Market is not expecting a placing over at prd. 2 have already taken place raising the share count to 240mil. Yet you do, shows how clueless you are. 1 to fund drilling and 1 to pay off cln.

The continual issuance of shares to lind may as well have been a cln. They obviously dump the shares to get paid for thier work. Meanwhile the share count climbs ever closer to 1 billion and existing share holders get diluted. Making the recovery that much harder. Another crap deal lk spun to shareholders. How many millions of shares have been issues to lind by now?

@tilburn, there's surely an upside but with so much dilution the upside shrinks. Getting a new offshore well to production will take many many years.
Its gone from cerp investors waiting many years for something to happen here, to now waiting for something to happen at Bpc.

@chesh none of that matters since the board wants to merge.

S1 they have results, s2 funded. 1.75mil from prd could have been used to advance cerp other projects. Unless they are all duds. Or simply the board find it to complex and challenging.

Instead the board rather put all thier bets on Bpc single drill. Bpc have spent the last 10 years trying to drill their well. Post merger they'll spend all the time doing the same as cerps assets are forgotten about.

What's worst is all that promotion over the past two years. Lk sold you all snake oil, he was very effective at it. Posters like willec and chesh are hooked on it, despite the writing being on the wall. They will tell you to ignore anyone who posts something sensible as they want others to share in thier losses.

Nobody is shorting this stock, (ridiculous of rampers to claim this) it's such a low mcap/volume that shorters wouldn't waste thier time.

I don't think the it was a chancers offer.
It's a viable alternative for the cerp board. They have already drilled s1 and have s2 funded, so I'm sure they could have made use of the £1.75mil on thier other projects.

Not surprised thier board prefers the merger as its an easier way out for them.

A lot of bickering today was unable to detract from the good news. Up 10%.
We have a partner in Trinidad willing to fund the purchase of fram. Great for shareholders as we avoid dilution.
New targets identified for our co2 eor.
Major next door to us in Morroco.

The making of something special.

Sooner we detach from cerp the better.

The icing on the cake is our local partner conoccophillips in Morroco. A succesful first drill will surely attract them to farm in for further drills. They have a morrocon division set up and personal already committed. Also big pockets as a major.

Looks like the project is looking good enough to be able to get a local company to front the costs to purchase fram. No dilution to share holders.
Cerp merger delaying the final deal and we won't know until after the merger has completed.

@starchild
Prd BOD own 30% of the company, so there's little risk of a hostile takeover and bpc/cerp can't afford to make an offer to tempt the board to sell.

Potentially a large background sell from earlier yet to be reported. Some sells being shown as buys and so the buy/sell count is not accurate.
Still more buys than sells when account for the latter.
I can imagine some sold this morning to trade covid stocks, as some of those are on fire today.

Mr250k still at it as well.

That's a rollover or somebody moving thier investment to a new account.

Here

Mrmmm that's the second time your chart predictions have been wrong. Golden Cross breakout and ath predictions were premature. Around a year ago u predicted the same and was also wrong.
Your predictions for Ireland show u have no understanding of the complexity of doing deals there.
Now you throw your toys out of the pram when you are publicly wrong.

The ones you call sheep are simply long term holders and not traders. We don't panic with daily fluctuations.

Also resorting to name calling is just pathetic.
Any positive news u post is just a repost of old stuff and no benefit to lth.

The prospectus on the website is a good place to start.

Morroco is onshore and paid for
Ireland is offshore and requires a farm in partner to fund.

https://www.predatoroilandgas.com/investors/documents-circulars/

The prospectus was posted on thier website on 20th Feb.

Hope this helps