Amerisur Resources Share Discussion Threads

[charlieeee] 19/3/2017 22:47

My understanding of the situation is that 28 days notice is required and so an ambush is not permitted and any such attempt would show the proposer to be a rank amateur: putting it bluntly, that was my take on the originating post.

As others have said, popularity is irrelevant: how many CEO's on AIM have charm oozing out of every pore and use it to serially swindle PIs of their cash as they fail to deliver? In good and bad times, this lot have built a decent company, currently profitable and with huge potential upside.

I struggle to see any factual reason for the continuing criticism re communication. 3 RNSs in less than a week, updating on production and the OBA throughput, announcing that Plat 22 is under starter's orders and then, if that was not enough, more jam, the acquisition RNS. Post OBA commencement of operations, news flow has been excellent.

Management are greedy, but they obviously see themselves as top end ability and I am inclined to agree. They couple vision with a realistic execution plan and have adapted so well to the bad times, which have wiped out many of their peer group (as far as the PI investors are concerned). Give credit where it is due: they have not only survived, but also (in accordance with one of the oldest of business maxims)seen opportunity in adversity and seized it with both hands. AMER has now grown into a completely different beast in the last couple of years.

To some extent, grumblings by LTHs are to be expected: somewhat akin to the routine complaining of any long term relationship, but the continual recycling of petty grievances is pointless in either circumstance and harmful, when dwelling on the negatives, to the exclusion of all positives.

It is such a pity when Al has gone to the trouble of setting up this thread, with a balanced header, that we cannot follow that lead and at least weigh the pluses and minuses.Instead, we get a vitriolic and emotional campaign against GC asking for action, without even the courtesy of a debate or why it might be appropriate at this time.

Call me cynical, but following hard on the heels of so much good news, this just looks like an attempt to blight the "green shoots" of returning sentiment.

[big7ime] 19/3/2017 17:18

If poor sentiment has driven this lower due to the nonsense on this thread then you (the ones spouting such rubbish) deserve to lose your money. Why don't you just sell up and move on idiots.

[quidnunc] 19/3/2017 11:09

I have not been approached about any letter of requisition, it makes little sense as there is nothing a non-executive of the company can sensibly request other than an EGM. That doesn't make sense with an AGM in the offing and the notice periods required for both.To get an item on the agenda, the proposer would need to formulate it and put it in writing to the Co Sec and Chair, with sufficient shareholder support and seconded In due time as detailed in the Mems an Arts. An ambush motion from the floor at the AGM can be rejected by the chair if it's not in the order of business. If there were sufficient support for such a notion, those involved are usually offered the opportunity to fall on their sword beforehand in private to avoid repercussions on the business and share price and to ensure a smooth transition So if GC were to be ousted, there would be someone groomed to step into the role at the AGM after he nobly announced his decision to step down and spend more time with his family etc Q

[quidnunc] 18/3/2017 22:49

You don't have to like them and they don't have to like each otherIt's a business not a social clubThe key issues are whether they can work productive together and whether they can add value to the spGC has tunnel vision and poor social skills with the small pi but, if you've ever been involved with the smarmy Charlie's, it's a better optionJW is clearly capable of managing and inspiring the workforce on the ground and GC of getting the confidence of the cityThe rest of the board are pretty average imo It could be that a more Oil experienced chair is needed to take the company up to the next level but then there might be tensions with JW's ambitions Q

[charlieeee] 18/3/2017 22:40

Skybase

That looks an extremely odd communication.

Received from whom and why are "they" approaching you, if they have not even got as far as getting a proposer and seconder sorted out?

Why a letter of requisition, when there is an AGM opportunity coming up shortly?

Where is the resolution?

If this matters to the big shareholders/iis on the register, (you say iis will not invest until GC has gone), the big boys have the clout to do this without needing PI help.

Few here (including me)will be pleased with the excessive remuneration, but management have made some great acquisitions for not much money, good decisions in really difficult times and GC will have first class experience of flogging a business (if that plan carries through).

I take the same attitude to management as I do to the horses: they can be as bad mannered as they like, so long as they perform on the day.

[tonyrelaxes] 18/3/2017 21:54

Don't feed the (filtered) troll.

[foiledagain] 18/3/2017 21:51

Then you can't be talking to many brokers

[francis55] 18/3/2017 21:11

If you think the BoD look at this string and act accordingly then your delusional. I have yet to see any stockbrokers who rate this a buy or sell go out on one regards the BoD reports and misinformation as a reason to sell or buy. The only people i have seen do this is those on here who gamble instead of investing.Back in your box fu kers...

[valentine] 18/3/2017 18:57

JW praises maybe but the rest are listening to Kenny Rogers The Gambler.

[foiledagain] 18/3/2017 18:25

On the same basis if you can prove that poor sentiment, communication have no relationship to the sp?

You are making assumptions nothing more nothing less, and I make assumptions too, but I agree with your last paragraph.

[fadilz] 18/3/2017 15:16

FA share price follows NPV, which is based on production, profit and reserves. See my recent posts for a quantified argument, and discussion with al101uk. I think this is a really important point, which is why I am re-iterating. Poor communication, sentiment, etc are not necessary to explain the share price movement since share price is predicted by the NPV alone.

If you can demonstrate that production, profit and reserves has been messed up by the directors then I will agree with you, but this to my mind is the only arguable point. And I am not convinced that the pipeline could have been completed sooner - genuinely a difficult project, and of long term value.

Communication may have been poor, but it has played no role in the drop from 60 to 22 - since it is all explained by lower production, profit per barrel and reserves.

All of this aside, I am convinced that we are on the cusp of increased reserves and production and with it share price. And when this happens everyone here will sing their praises again.

[adam] 18/3/2017 14:11

Skybase - what are you talking about? Is someone looking to requisition the company?

[foiledagain] 18/3/2017 13:04

I believe the BoD has had an impact on the SP, and it is incorrect to suggest otherwise. The oil price is outside of their control, but missed targets and 'imminent' used in descriptions are not necessarily outside of their control and the poor communication from them is within their control, but a matter of choice. The board of directors' main purpose is to ensure company's prosperity by collectively directing the company's affairs, whilst meeting the interests of its shareholders and stakeholders. The destruction in the share price does not indicate they have done that too successfully.

[fadilz] 18/3/2017 09:58

AMER has positioned itself beautifully. Licence acquisition, cost reduction. share price fall due to factors outside its control. Personally, I rate AMER performance very highly.

Being rude to shareholders is not a sackable offense IMO. Excessive share options may be, but corrective action has been taken?

Leave well alone, I say.

[skybase] 17/3/2017 21:32

Posted this on the Amer thread but you may care to consider.
My issue is with GC's predatory attitude to PI's. I was invited to instruct my brokers as follows "As a holder of xxxxxxx shares I would be happy to support, propose, second, to assist in the removal of Giles Clarke. I hereby ask you to assist in jointly signing a letter of requisition." I was happy to concur and instructed accordingly.
GLA

[skybase] 17/3/2017 21:16

As a long term holder, I am dismayed at the utter disdain with which GC treats PIs. Received this today and was delighted to have the opportunity to instruct my brokers "As a holder of xxxxxxx shares I would be happy to support, propose, second, to assist in the removal of Giles Clarke. I hereby ask you to assist in jointly signing a letter of requisition". The choice is clearly yours but my understanding is that when he leaves, the institutions will arrive.
GLA

[al101uk] 17/3/2017 12:45

That's the one bwd, cheers!

[moneylender] 17/3/2017 12:38

Amer has a great bunch of posters still, very knowledgeable.

[bigwavedave] 17/3/2017 12:28

OCT 27 last year:
"Cash opex costs per barrel are expected to reduce from approximately $26 to under $15. In addition to the cost savings, Amerisur OBA and SOTE (Ecuadorian pipeline to the coast)exported crude will receive Oriente crude pricing plus a quality compensation factor, which has historically approximated to WTI pricing. Current trucked production is sold as South Blend, which is at a discount to WTI."

[valentine] 17/3/2017 12:24

Eoy report and Ecuadorian presidential election outcome in early april important imo. Blocks in Lago agrio VHR area adjacent to roda oba pumping station will be a game changer. Production in a second country tres important now that Paraguay up the swanee. ACC to a fund manager, of standing, anyway.

Nowt much today as suits at gold cup looking for punters.. Outlander good ew.

[westmoreland lad] 17/3/2017 12:20

Went as high as $8 pb premium many moons ago when oil was > $80

[al101uk] 17/3/2017 12:14

moneylender,

Yeah, I remember, but they definitely don't get that anymore. They reported receiving a discount to WTI a while ago, but said that would change with the pipeline.

The numbers in the report though are WTI, so comparing apples with apples. He hasn't simply multiplied WTI by 365 and then by bopd, so he's factored in something else, possibly the discount.

[trotting12] 17/3/2017 12:12

Looks like their trying to play the share price again this morning ,,,,it won't work !!

[moneylender] 17/3/2017 12:07

AL101uk, years ago they used to get a couple of dollars more than WTI because of the good quality, I dont know if that is still the case though1