Amerisur Resources Share Discussion Threads

[ghhghh] 05/6/2019 16:18

GC is always going to talk the talk at AGM. He is obviously not going to say he's open to bids!

Interesting that no director buying.... Not sure what else they are inside on?

I wouldn't rule out an agreed bid but agree timing, ie drilling campaign, favours any predator bidding now.

I definitely wouldn't rule out hostile. An initial bid at 17p, dawn raid and eventual 19p bid would win for me.

Are you really saying the majority of shareholders would stick with GC rather than trousering 19p?

[n95] 05/6/2019 16:05

Looking like this is going sub 12p again.

[foiledagain] 05/6/2019 15:32

ghgh

Never in a million years

If at the AGM there all resolutions were carried then there was not enough sway to challenge the BoD for those that might have wanted to and the same would go for a bid, where GC would not let Amerisur go for peanuts. 5 x the 20p he might.

If GT did launch a hostile bid it would have to be made known under SE rules but who would do that if the BoD commanding a good percentage of votes would scupper it, the BoD would recommend rejection but it might just stoke up a bidding war with ONGC, GT, Occi and even Sinopec.

[ghhghh] 05/6/2019 15:19

Old news, 24th May. Think I posted headline then.

Importantly, if we look at Amerisur’s share price performance over this period it has languished and is now near eight to ten year lows, due to underperformance of the main production asset, the Platanillo oil field. We think this is playing right into the hands of Gran Tierra which this week also closed a $300m bond issue. The final word in the use of proceeds section of the Gran Tierra announcement was ‘acquisitions’ which, to our mind, is a clear statement of intent. We therefore think Amerisur is a likely takeover target and reiterate our 20p Target Price and Add recommendation

The Note covers potential synergies in detail.

[moneylender] 05/6/2019 14:28

Big interest in the Llanos yesterday


The initial bids related to the Permanent Area Assignment Process, or PPAA, are Colombia's first after a five-year hiatus without signing hydrocarbon exploration and production contracts. Two onshore blocks, LLA 87 in the Llanos Basin and VIM 22 in the Lower Magdalena Valley, were most sought after by the investors with three offers being received for each, ANH said.
Companies taking part in the process included Frontera Energy Colombia Corp., Parex Resources Ltd, Gran Tierra Energy Colombia LLC, Geopark Colombia S.A.S., Ecopetrol Costa Afuera S.A.S., Hocol S.A., and ONGC Videsh Ltd. Interest by the companies was overwhelming in the Llanos Basin followed by the Magdalena Valley Basin and lastly one opportunity in an offshore basin.

[tyler durden1] 05/6/2019 13:30

Just like the big difference of finishing an OBA with expectation it would be pumping to then find it requires an upgraded or new pumping station

[jp2011] 05/6/2019 13:18

Big difference between a tanker arriving and exports which need blending first.

[lucyp00p] 05/6/2019 13:12

I don't think so. The Ecuador report just shows crude received from third parties, not it's origin.

[fadilz] 05/6/2019 13:07

AGM RNS: Further to the Company's announcement dated 7 May 2019, the first batch of third-party volumes has been received at Platanillo as part of the initial contract, with discussions continuing to increase toward the previously stated 2,000 bopd through H2/19.

AGM Presentation: Addressable Market / Initially Target ~2,000b/d

[rollthedice] 05/6/2019 12:00

Could 3rd party oil be shown separately given AMER have said it would be bought and immediately sold on?

[westmoreland lad] 05/6/2019 11:59

Most folk will have noted Ironveld this morning – No1 highest %age loser @ - 43%
Giles Clarke ( chairman ) and John Wardle/Tracarta own millions of shares.

Interesting to read Zen’s post below and the comparable treatment dished out to us at AMER.

ZENGAS
5 Jun '19 - 08:13 - 2610 of 2614 0 1 0

"For further information on Ironveld please refer to www.ironveld.com"

A website that seems to have been put together by someones five year old.

The last presentation was over 2 and a half years ago - ie enough said. I've been out for a quite awhile since a previous fundraising and details about progress were scant. They are years behind and if things were rosy this would be up and running - no excuses.

As a previous investor I found them uncontactable, unreachable and too many unanswered questions. This has dragged on for more years than enough and imo they have some serious issues that they wont answer or comment on and prefer to leave investors totally in the dark.
Wouldn't surprise me to see them squeezed out given the delays, new money will cost an absolute arm and a leg at this price. Biggest danger is no confidence, suspension and delisting if they don't come clean about what the issues are.

Last raise which was working capital only, was to take them through to end of October - 4 months away.

[lucyp00p] 05/6/2019 11:54

The problem is that the slide presented at the AGM in early May "showed" third party tankers arriving at the newly constructed export hub, in the process of off loading the 3rd party crude for onward OBA dispatch, and the statement that the process was now underway. The export figures for May clearly exclude any third party capacity of any significance. When you are on record at a shareholder presentation saying something which subsequently proves to be just a p.r. stunt it is hardly surprising that a major investor decides that the trust deficit is a significant reason to cut and run. Why would JW get up and lie to us if the truth is so easy to find?

[fadilz] 05/6/2019 10:51

All the company has said so far is build to 2k in H2. What is the problem?

[foiledagain] 05/6/2019 10:32

Lucy. Are you suggesting that Amerisur may engage in little white lies...Whatever next. The history of Amerisur demonstrates a wonderful openness towards shareholders with regular accurate communication of the utmost integrity.

[paradores] 05/6/2019 09:17

They have ample storage at main pad wellhead for initial arrivals. Plat production still looks at upper end of guidance 3.6k-4k bopd- won’t know final levels until all w/os are completed. Go with conservative guidance and manage yr expectations.

Plenty of activity/upside to come this year, such that Plat will become a BAU line item.

[lucyp00p] 05/6/2019 08:33

If 3rd party oil has been arriving since the AGM, and none has been piped, where are they putting it all? (Or was there a little white lie in the presentation?)

[ianpuddifoot] 05/6/2019 06:55

4400 for 3rd June

[tyler durden1] 04/6/2019 16:34

Assuming 2,000bopd is not someone else's oil

FIL disposal was bad news coming after AGM. A vote of no confidence imo.

[paradores] 04/6/2019 16:02

So total production iro 6-6.5k bopd, not exactly shabby. 10k breached by calendar year end?
Eh, why not...

[moneylender] 04/6/2019 15:07

3700 and 4000 gone through the OBA for 1st and 2nd of June

[tsmith2] 04/6/2019 13:51

June figs available?

[fsawatcher] 04/6/2019 09:13

sol 1 target 4mmbbls

i s that net amer o r amer get 1.33333333 rucurrrrrin (racooooon!)

sol 1 tiny prospekt

wotfunk punk skunk they doin drillin puddle in ocean of oil

[kumala] 03/6/2019 23:30

Are things on the change here Lucy? Been some recent news in the press,,,,,hope ur well. :)