Amerisur Resources Share Discussion Threads

[foiledagain] 16/3/2017 08:12

Reading Pacific's report and accounts they are struggling and had to invoke a 1 month grace period for interest payments, and the report and accounts shows they need further finance just to pay their interest and debt repayments. So a very well timed acquisition by Amerisur.

Pacific: "Despite a number of cost reduction initiatives that have been implemented by the Company, at current oil prices the Company will likely need new financing to fund its interest payments and debt repayments as they come due, and possibly operating cash needs".

[foiledagain] 16/3/2017 08:00

The good thing is its not being discarded because of any lack of potential its just to reduce the other party's commitments to ANH.

"Pacific has agreed to sell certain interests in the Caguan-Putumayo basin to Amerisur Resources Plc for total cash proceeds of $4.85 million. The interests include 1) a 60% working interest in the Put-9 block; 2) a 58% working interest in the Mecaya block; 3) a 100% working interest in the Terecay block; and 4) a 50.5% working interest in the Tacacho block. In addition to cash consideration, Pacific will also receive a 2% overriding royalty interest ("ORRI") on production from the Terecay block and a 1.2% ORRI on production from the Put-9 block. By selling these interests, Pacific is eliminating $30 million in Agencia Nacional de Hidrocarburos ("ANH") commitments. Transaction closing is subject to approval by the ANH.

On March 13, 2017, the Superintendencia de Sociedades ("Superintendencia") issued a decision to conclude proceedings under Ley 1116 of 2006 in Colombia. Consequently, the Company will initiate the processes to lift all liens imposed by the mentioned judge, including the remaining $23.7 million held in a trust account previously ordered by the judge."

[meneither2] 16/3/2017 07:59

They have been busy, jw does like to get full control.

[bigwavedave] 16/3/2017 07:53

I'm pleased to see they've paid in cash and not shares this time. Looks cheap too.

[moneylender] 16/3/2017 07:52

Wowed, nice acquisitions, this should fly, let's see.

[tsmith2] 16/3/2017 07:47

V v smart acquisition

[francis55] 16/3/2017 05:32

All is quiet on the new string*

[francis55] 15/3/2017 21:37

I dont know what denigrading means fish?

[bloke 6] 15/3/2017 21:03

Small point Francis.
It's not 15/16 results. It's 2016 Results,
Shows how much you know about this share you spend so much time denigrating.

[nas_daq] 15/3/2017 20:05

MLYes you are mad :-)Good to see all the old names still around ;)

[colebrooke] 15/3/2017 18:14

EIA data show first decline in U.S. crude supplies in 10 weeks: on.mktw.net/2mssVw2

[colebrooke] 15/3/2017 18:13

EIA data show first decline in U.S. crude supplies in 10 weeks: on.mktw.net/2mssVw2

[dayway123] 15/3/2017 18:00

Well maybe the persistent seller wishes to take it low enough for someone to make a cheeky bid for the company. Whilst GC watches Rome burn. Some serious questions have to be asked at this coming AGM.

[al101uk] 15/3/2017 14:58

Most people are posting here now:

[tsmith2] 15/3/2017 14:42

Persistent seller we know but who and why can't company arrange for a wiling buyer?

[lucyp00p] 15/3/2017 11:09

And Leicester City march on

[bigwavedave] 15/3/2017 09:53

...and back up on US inventory data.

[colebrooke] 14/3/2017 21:12

API data crude inventory draw.#API #OIL Inventories:#Crude Invs -531,000 barrels#Cushing Invs +2.1m barrels#Gasoline Invs -3.9m barrels#Distillate Invs -4.1m barrelsStrong gasoline demand which should continue for several weeks into the US driving season.Let's see if tomorrow's EIA figures support this.

[ladeside] 14/3/2017 18:47

Oil price under attack again today so quite significant that we have bucked the trend in adverse conditions.

For those at Cheltenham, I hope you had a better day than me !!!