Amerisur Resources Share Discussion Threads

[neo26] 19/7/2019 21:16

Whats the chance offers are leaked to the weekend news papers?

[kaos3] 19/7/2019 21:14

RNS is written for optimization. All interests will be presented - who wants what.

Maybe the TO party is not so keen on an asset the someone else wants etc.

Ideal outcome would be to maximize the final outcome meaning - sale of one or two assets for a PRICE and then the TO takes place.

or similar

[neo26] 19/7/2019 21:14

Dont amer have close to 5p a share in cash?

[tommygriff] 19/7/2019 20:51

And some good news from the drill bit over the next 3 months

[tommygriff] 19/7/2019 20:50

Might be the perfect storm, bidding war, oil price rally

[moneylender] 19/7/2019 20:26

Iran captures British tanker. There's going to be trouble out there!

[blackdown2] 19/7/2019 20:25

Clearly there are other assets worth something substantial, hence why Oxy have paid handsomely for their farm in.

Rtd has been consistently negative about this stock for ages, so best ignored.

[3roach] 19/7/2019 19:53

Hoping Giles is shrewed enough and greedy enough not to let this go for a song. Can't really see why they would?

[mickinvest] 19/7/2019 19:45

Was that like my glass tonight moneylender, filled to spill:-)

[moneylender] 19/7/2019 19:41

JW and more importantly GC are both deal makers and I have no doubt they will do us proud. Just remember what GC said about CPO in his last interview. Look it up if you don't know!

[crossing_the_rubicon] 19/7/2019 19:26

I suspect if there is a takeover we will get more than we expect, but less than we deserve.

Here's hoping.

I've a wine cellar to replace and summer is not yet over..

[rollthedice] 19/7/2019 19:08

Me neither.

Any special dividend would be taxed as income, capital gain (if in an ISA) = zero.

At the moment there's only two assets worth anything substantial and that's the two producing assets. I wouldn't like to see CPO-5 sold when it's contributing growing levels of production and sales are straight from site. Selling Platanillo wouldn't make sense either with it serving as the hub for the OBA and most of AMER's other licences in the same area.

[broncowarrior] 19/7/2019 19:00

Would rather they sold the lot for 40p+ plus, not sure I like the idea of selling a major asset, even if we got a 5p a share dividend.

[juuunx2] 19/7/2019 18:53

I think you could be spot on there

[danieldruff2] 19/7/2019 18:52

I think the clue here is the AGM resolution in April:

"The Board does not currently have any plans to pay any dividends; however, the Board is of the view that it is now an appropriate time to restructure the Company’s balance sheet so that the Company will have the flexibility to pay dividends in the future, should the Board consider it to be appropriate"

Similar to RetailRonnie I would speculate that AMER were looking to sell a major asset, distribute some of it as a special dividend and the rest towards proving up another asset. I suspect whilst this was in train they received a query about selling the lot, leading to today's announcement.

[blackdown2] 19/7/2019 18:27

Several people I should think.

[rollthedice] 19/7/2019 18:11

Who wants the OBA?

[blackdown2] 19/7/2019 18:10

The company maybe forcing the issue but it is not a forced/distressed seller.

Also bear in mind that, since the fundraising initially at 6 or 7 pence, they have raised funds at 35p and 25p per share. I am quite certain that the board has a minimum price in mind and I very much doubt that this is less than 50p per share.

[foiledagain] 19/7/2019 18:04

Do not rule out a Sinopec/CNPC or one of them combining with ONGC to bid as they work closely on many projects.

If one of the interested parties is ONGC I would treat previous well drilling perceived 'failures' with a pinch of salt. It is after all the game Amerisur played with Repsol and Ecopetrol.

[retailronnie] 19/7/2019 18:01

I imagine ONGC want to buy out CPO-5 and AMER want to sell - it's not part of their core activities in PUT.

The share price is so artificially low it causes a problem with the valuation of CPO-5. It must be a difficult for AMER to approach ONGC and convince them CPO-5 is worth close to the MC of AMER in total including PUT assets. As a government owned company, ONGC may find it difficult to justify paying 'over the odds'.

Think AMER is forcing the issue with invites for CPO-5 and the company itself.

Personally, if CPO-5 goes for say $100m (still not proved up) it could also free up cash set aside for development and distribute $150m as dividend of 10p. Leaving PUT, PLAT and OBA left for OXY to buy as and when.

[mickinvest] 19/7/2019 17:37

Good points sji and I would add GTE as wishing to partner OXY after losing out on PUT -8 therefore they might bid for everything apart from the ONGC shared asset.

[leas1] 19/7/2019 17:36

sji, accounts for the apparent lack of process in the CPO-5 block. Why increase the value of AMER's asset if you want to make a bid. ONGC are going all out to tender the work for the production facility civil works but seem to have no interest in securing another drilling rig.
Accounts for the lack of PR by both companies. ONGC do not have any shareholders to keep onside and AMER seem happy enough to roll over. No wonder there was a flurry of Director buys earlier in the year. Laughing all the way to the bank.

[mickinvest] 19/7/2019 17:30

Thought it would have ended higher but probably down to the market having little faith in the management. Anything lower than 30p would be a disgrace considering the partners and investments they have made.