Amerisur Resources Share Discussion Threads

[tyler durden1] 01/8/2019 12:45

Elsewhere, legal entity identifier search shows:

Legal Entity Identifier: 549300NJGGX9Z6HKYZ12

Legal Name: Michinoko Limited

Entity Status: ACTIVE

Registration Status: ISSUED

Initial Registration Date: 16 Aug 2017 15:08:00 UTC+1
Last Update Date: 13 Jun 2019 21:06:00 UTC+1
Next Renewal Date: 07 Jun 2020 00:06:00 UTC+1
Validation Source: Partially Corroborated

Main Deetails
Legal Address & HQ
Vistra Corporate Services Centre
Wickhams Cay II
Tortola
Road Town
VG1110

Legal country/Region Code: VG

Business Registry Code RA000063
Registry's Identifier: 317382
Jurisdiction Country/Region: VG

[tyler durden1] 01/8/2019 12:37

They still seem to be acting differently to their registered status though, as on 23rd January 2018 they made a notification of Major Holding in Ironveld.

However the address and details on the official RNS show the following:

Michinoko Limited
Contact address (registered office for legal entities)
GTS Chambers
PO Box 3471
Road Town
Tortola
British Virgin Islands
E-Mail
[e-mail]

The problem with this, is according to Guernsey and Panama Papers, they were no longer in existence in BVI?

[tyler durden1] 01/8/2019 12:35

Panama papers still there, but as soon as Panama Papers hit the news, Michinoko were out like a shot, and off to another offshore base.

Their registration shown in Panama leaks shows they closed down the company there, and presumably transferred all assets to the new Michinoko Limited, registered in Guernsey.

[lucyp00p] 01/8/2019 12:22

You might find more breadcrumbs in the panama papers link if it's still up.

[lucyp00p] 01/8/2019 12:14

Just checked, still not a gerbil.

[xxnjr] 01/8/2019 12:07

Thanks guys. Still a mystery then. I'll take my seat in the anteroom of the bordello!

[quidnunc] 01/8/2019 11:53

As they constantly say in scientific circles, "coincidence is not causation". It is quite possible that Michinoko followed GC in the same way that many of us followed him and JW into Ironveldt. It's not unusual to back the horse if you like the Jockey.That aside, sometimes silence speaks as loudly as action and it could be that the guiding hands of that investment are privy to some insider information thus tying them.Or it could be that, like so many of us, they can only see upside at this point and watch and wait.Q

[lucyp00p] 01/8/2019 11:43

That was GC playing games before the AGM. As the identity of Michinoko is concealed, anybody could have made that phone call, if anybody ever did.

[davwal] 01/8/2019 11:09

Michinoko is in a few investments involving Clarke. However, this extract from a very short piece in The Times on 5 May would suggest they are not one and the same. Given Michinoko is hermetically sealed it suggests only they could have provided the information - for whatever strategic reason...

‘The chairman of oil and gas explorer Amerisur Resources faces an investor rebellion amid a prolonged slide in the share price.

Shareholders with almost 14% of Amerisur — including the largest, Michinoko — are set to vote against re-electing Giles Clarke at the annual meeting this month. They are also due to vote against directors’ pay.’

[lucyp00p] 01/8/2019 10:32

If GC isn't Michinoko then I'm a gerbil

[xxnjr] 01/8/2019 10:27

Has anyone unearthed who, or what, are behind Michinoko. I don't think it's anything to do with with a small Japanese retail bank of the same name. All I've gathered so far, is that Michinoko seems to be owned by 8 "investors" with names like GNS One or NT Noms 2. All 8 are registered in Guernsey, 3 of them share the same Postal Box address. Thats about the sum of my knowledge. Oh, and M hold about 9.61% of Ironveld. Thats a bit of a co-incidence. But who the hell are Michinoko?

[quidnunc] 01/8/2019 10:01

On another perspective, it is of interest perhaps that, despite recent events, Michinoko - a major shareholder - holdings remain unchanged.If they have a view on events, it's not being expressed either in acquisition or disposal......but might of course carry some weight when decisions are to be made.Q

[lucyp00p] 01/8/2019 09:57

......and everybody gets their share options....hooray

[astorcourt] 01/8/2019 09:42

The board is confident of a competitive process involving several bidders


"The Board can confirm that a number of conversations have taken place since the announcement of the competitive Formal Sales Process with counterparties who have expressed their interest in participating and it is confident that a competitive process involving several of these potential counterparties can be completed to the benefit of all shareholders".

[quidnunc] 01/8/2019 09:34

An alternate hypothesisThe company share price languishes after months of slow burn Rexit much to the annoyance of shareholders The company receives an unsolicited bid based upon the low share price and announces it, as obliged.The resulting media coverage raises both the company profile and the share price The strategic review reveals that, it was already a tight ship with a tight focus and the only asset they aren't too bothered about keeping is over the border and not of much interest after the initial drill results.The strategic review reveals that there's more potential for shareholders in keeping the company together as is than there is selling on part or all, especially if no other credible bidders emerge.It concludes and the share price remains trading in a range that better reflects the company's value, leaving shareholders a little happier

[xxnjr] 01/8/2019 00:47

To be fair, so far this year, production guidance seems to be going to plan. Wasn't it:

Platanillo 3K to 4K bopd as a general guide for the future.
And for the company 5K to 6K bopd for 2019.
Both of which are being met.

Exploration has disappointed. But hey thats exploration for you. Nothing is 100%, or even 30% guaranteed with that.

OBA 3rd party still a mystery. An update on that would be useful.
The plan was to (gradually) build up to 2K bopd during 2nd half.

[xxnjr] 01/8/2019 00:13

Off-topic - Interesting alliance announced today between OXY and Ecopetrol, where the latter are injecting $750m cash + $750m carried capital for 49% of 97K acres of Midland Basin shale acreage. Good to see OXY/Ecopetrol playing on the same team.

[lucyp00p] 01/8/2019 00:00

She's a woman of very few "printed" words, but probably sitting on a handsome package.

[philwalker36] 31/7/2019 22:32

It seems that the advice of the then new non-exec director with the communications expertise; was not to communicate.Genius

[danieldruff2] 31/7/2019 22:29

The lack of news on third party oil is indeed disappointing

[sji] 31/7/2019 22:15

danieldruff2 - you are right to say that daily output can mislead but in the case of AMER, it's not just the daily output. If you check the monthly (not daily) output for the last couple of years, it's highly erratic. Every time the Board promises something positive in the next few months, something ALWAYS crops up to annul the positives. In the early part of the current year, monthly production suffers because of predetermined maintenance. After this has been done, production started to recover once again ... until last month! This month (July), we are back down on the previous month!

At the beginning of the year, we had Indico-1 which should have been a really positive development. Then, the Board raised our expectations to the sky, telling us that the next drillings will be transformational. Result was Calao - a duster and Sol-1 - not a duster but hardly anything to get excited about! Now, our excitement has shifted to Indico-2. Everyone expects a very high result, maybe another well producing 5,000 bopd?! Well, let's see whether we will be disappointed again.

In May, the Board told us about third party oil for the OBA. 2,000 bopd they said! Almost 3 months have passed and no apparent sign of such third party oil yet! On this board, it was said that it takes time for third party oil to process/blend before feeding through OBA. Yes but how long, 3 months?!

Two years ago, the Board boasted they we reached the 7,000 bopd production - yes, just for 1 day! Since then, we found new wells and carried out several maintenance on several wells. Yet, we have still not reached the 7,000 bopd.

One can say that our board are good deal-makers (we shall soon see about that ...) but that they are good operations managers, it's highly doubtful given the current results.

In september, we shall have the interims. However, we already know that production in the first 6 months is down compared to last year and most probably, even the realised oil price has been less. So, most probably, profitability will be down.

There is no consistency in AMER's operations and that is the reason why our share price is so depressed notwithstanding the valuable assets that we possess!