Century Petroleum Corp (CYPE)

[stervc]

CYPE $10.3 Billion 8-K Valuation Confirmation...

Question: Do you think that CYPE, considering the condition they are in, would file an 8-K with the SEC indicating a $10,306,127,265 valuation if it truly doesn't exist?

My Answer: No they would not. I believe them.

I think the new CEO of CYPE (Dr. Cletus M. Ibeto) has made the decision to fix CYPE because his reputation is publicly on the line to do right by shareholders as he could risk having a tarnished reputation for the rest of his life going forward publicly around the world since the merger was publicly released months ago. If he conquers this successfully, he would rise to Super Hero Status!

Most CEOs, with what he is up against, would have abandoned us shareholders for life and left us with a tax write-off. But not Dr. Cletus M. Ibeto, the CYPE CEO. After reading the 8-K below and seeing what he is trying to do to fix things, he has a shareholder for life in me:
http://archive.fast-edgar.com//20180928/AO25Q22CZ222U2Z2222D2MN8TGCKZX2242A2/

Let's get right to the meat of this filing. This 8-K filed by CYPE, now known as Ibeto Cement Company Limited (ICCL), has indicated under the Investments section under the Notes that the company has an over $10,306,127,265 valuation from its limestone deposit from its 100% Controlling Interest in Eastern Bulk Cement Company Limited of which Eastern Bulk Cement Company Limited owns a 60% Controlling Interest in Nigerian Cement Company (Nkalagu Ebonyi State Nigeria). The valuation also include the 100% Controlling Interest in Cross River/Abia Cement Project:

http://archive.fast-edgar.com//20180928/AO25Q22CZ222U2Z2222D2MN8TGCKZX2242A2/

The Independent Valuation was conducted in Nov 2015 by a geoscience investigation firm/company called De Alpha Seriez Ltd:

http://www.dealphaseriezltd.com/


Later, Sinoma International Engineering Company Limited reviewed the documents confirming the valuation by De Alpha Seriez Ltd and also physically verified the limestone deposits themselves and gave their stamp of approval to agree with the valuation. Sinoma International Engineering Company Limited trades on the Shanghai Stock Exchange under the share code of 600970) at CN¥6.29 as of yesterday. It's total market value has exceeded 17 Billion Yuan with a workforce of near 9000 people:
http://www.sinoma.com.cn/en/gongsigaikuang/gongsijianjie/qiyejieshao/2013/0512/638.html

For inquiring minds... 17 Billion Yuan = $2,474,887,200
https://www.google.com/search?q=17+billion+yuan&oq=17+billion+yuan&aqs=chrome..69i57&sourceid=chrome&ie=UTF-8

http://www.sinoma.com.cn/


http://www.sinoma.com.cn/en/


I think it's safe to say that the companies that confirmed the $10,306,127,265 valuation for CYPE/Ibeto Cement Company Limited (ICCL) are very qualified, legit, and very real. I think we are in good hands with CYPE and Dr. Cletus M. Ibeto.

v/r
Sterling