Replies to post #3309 on Century Petroleum Corp (CYPE)

[WiseTrader]

Could be! If not 8-K then New Management must file Certificate of Change of Control with OTCMARKETS. and also they should do an amendment on NVSOS to show the new BOD and remove Joseph Arcaro

https://www.nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=cIf8REygw%252bJnH91xY%252fQmpQ%253d%253d&nt7=0

Today's PR sounded very good and promising and all the above updates a MUST! It will make this reverse takeover legit and no doubts about it!

Good luck to all here! Have a great long weekend everyone.

[Tengri]

Latest DD package on CYPE…

Ibeto Cement Company Limited is one of the most dominant players in the fast-growing cement industry in Nigeria. It was conceived in 2001 following the Federal Government ban of the importation of cement in bags and the institution of a new policy of bulk importation and local bagging.

OPERATION

In 2005, it started producing cement in Rivers State. The production capacity of 1,500,000 tons per annum, which translates to a production capacity of 4,000+ metric tons per day
http://ibeto.com/IBETO-page.asp?P=24

2.2M metric tons x $113 per metric ton (2017) = $170M revenue potential from Rivers Plant

In 2015, it signed a contract with a Chinese firm, Sinoma International Engineering, to build a $386 million cement plant in Enugu State, with capacity of 2.2 million metric tons per year.
http://www.financialnigeria.com/ibeto-cement-in-390-million-deal-with-chinese-firm-news-142.html

2.2M metric tons x $113 per metric ton (2017) = $250M revenue potential from Enugu Plant

At present, Ibeto is developing two cement plants in Nigeria – one in Ebonyi State and one in Cross River State/Abia State. Each of the plant is a 6,000 metric tons per day plant and sitting on an abundant reserve of quality limestones.
https://globenewswire.com/news-release/2018/05/25/1512283/0/en/Century-Petroleum-Announces-The-Proposed-Reverse-Merger-With-A-Nigerian-Businessman.html

2 x 6000 = 12,000 metric tons per day = 4.4M metric tons per year
4.4M x $113 per metric ton (2017) = $490M revenue potential from Ebonyi and Cross River/Avia plants

FINANCING

Ibeto plans public listing with $850M investment deal with Milost. Ibeto has started the process of going public a reverse merger in the United States as efforts to become a publicly traded company. The Nigerian Billionaire Cletus Ibeto will personally consummate the acquisition of the publicly traded company to reverse the assets of his cement business
https://www.businesspost.ng/2018/05/24/ibeto-cement-plans-public-listing-with-850m-investment-deal-with-milost/

The public listing will allow Ibeto to raise enough capital to grow beyond west Africa through the acquisition of other profitable cement businesses outside Nigeria in next 12 months.
https://globenewswire.com/news-release/2018/05/24/1511317/0/en/Nigerian-Billionaire-Cletus-Ibeto-Closes-Financing-With-a-New-York-based-PE-Firm.html

VALUATION

271M Outstanding Shares
https://www.otcmarkets.com/stock/CYPE/security

Today’s Market Cap = $0.41 x 271M OS = $111M

~0.1x the financing deal or revenue potential