Amerisur Resources Share Discussion Threads

[yasrub] 12/9/2019 14:55

My main take aways from the interims is that operationally nothing that surprising - with ONGC controlling CP-05 they call the shots.Indico 2 H22019 is pretty vague considering we are mid September. A bit of a hint that OXY acknowledge how strategic OBA is - would they be comfortable with another company - should imagine there are a few egos in play.

If anything the interims highlight why AMER is of interest. The majority of PIs suggest management are not performing but acknowledge the asset base has significant potential and that causes such frustration. The asset base looks like it is attracting interest from a number of companies and perhaps P/E. Whilst there is FSP I cannot help going back to what price the institutional holders want. They hold circa 44%, I believe they will have been sounded out - not only by AMER management but potential suitors.

[paradores] 12/9/2019 14:53

King B, I wouldn’t disagree but beggars can’t always be choosers. ONGC’s delay on the 2nd CPO5 drill speaks vols. But they’re still gonna have to cough up for it, else that 30% balance they so badly want risks going...going...gone! Problemas y decisiones para ellos

[bigwavedave] 12/9/2019 13:01

Kaos - I am sure the execs would be delighted about flying to London so they could look at some photos of the assets in Colombia.

[acv74] 12/9/2019 12:52

I personally think Malcy seems luke warm about the takeover and thinks we would be better going but alone for another couple of years

[king_baller] 12/9/2019 12:28

I think M&P heading to Bogota is a sign of intent. They want Colombia in their portfolio, they’ve said as much. Remember also, they described their 17p as an ‘initial offer’.

My main disappointment today was the delay in second Indico drill. It’s very suspicious that ONGC want to bid for AMER’s share of it (either before or after the sale) before it’s full potential is confirmed. I’m still exceptionally confident at the current share price and have added this morning.

[thegreatgeraldo] 12/9/2019 12:04

Anchorage or Manila would have been the obvious locations

[kaos3] 12/9/2019 11:56

exactly making my point - thank you my friend - big boys just do not get dirty with bogotas and amer put a frame on it by bogotazing the sale process

GC and his supposed city connections lol end up in Bogota

[lucyp00p] 12/9/2019 11:45

If they want it, they will come

[kaos3] 12/9/2019 11:24

Bogota presentation - not London or similar - what buyer comes to what place? What rank is expected to attend?

I have been to some and in my times the place spoke volumes

stupids like me were sent to Bogotas, bosses went to London, Monaco, Geneva

[bountyhunter] 12/9/2019 10:57

The apparent delay of Indico-2 is a disgrace I have to say given the potential. With the OBA etc it's clear why there are several interested parties participating in the FSP.

[lucyp00p] 12/9/2019 10:55

Third party oil through the OBA started in May (the day before the AGM) and stopped in May - the day after the AGM. There is no segment information for this because it simply does not exist. Also, Amerisur does not need $46 million in the bank - it never has, especially as the drill target has collapsed, but any distribution would impact the share price and drop it below the option exercise level. I'm amazed that we can turnover 58 million and still turn a loss.Also, excluding royalty barrels from production numbers is ridiculous. Regardless of the accounting treatment, somebody knows how much oil we recovered, it's direct impact on reserves and what we are actually paying the government on top of taxes and other payments.Looking at these numbers I would defy anybody to accurately value this company.

[bountyhunter] 12/9/2019 10:49

#23695 absolutely, keep it realistic or there will be no sale

[thefartingcommie] 12/9/2019 10:39

hxxps://www.malcysblog.com/2019/09/hurricane-amerisur-coro-dgo-igas/

Posted on 12 September 2019 Posted in Flash Blog

Amerisur Resources

Amerisur has reported interims this morning and whilst they don’t tell us much that we don’t already know the title, ‘steady production growth and strong operating cash generation tells us as much as we need to know.

Production was 5,552 bopd in the half at $58.80/bbl but current production is 6,900 bopd and of course they are now carrying third party crude through the OBA. This means that the company should ‘reach or exceed’ the top end of its 5-6/- guidance which is another strong point. EBITDA of $19.2m is good with an increase in net cash of $18.5m giving ‘robust’ net cash of $46m.

These vey strong numbers will give the board the best possible negotiating stance when it meets potential suitors in Bogotá shortly. The strategic review continues with many expressions of interest but with these numbers and exploration success any sale of all or part of the business would have to add up to way more than the current price.

[moneylender] 12/9/2019 10:35

Interesting headline from Allience news, re today's RNS.

'Could Top Output Guidance As It Meets With Suitors'

[11_percent] 12/9/2019 10:24

I think this RNS typifies the breathtaking arrogance and incompetence of this BOD.

===========

LOL....its not incompetence.

JW has made some presentations earlier this year where he presented the way ahead.

Very little of it happened, or looks like happening.....this was deliberate. They don't want institutions on the share register, they don't want this type of scrutiny.

This is deliberate.

AIMO, DYOR.

[chopper harris1] 12/9/2019 10:09

I think this RNS typifies the breathtaking arrogance and incompetence of this BOD.

Composed as if they don’t particularly give a toss. To vaguely dismiss the spudding of Indico-2 as happening in H2 2019 (so any time in the next three and a half months) is pretty unforgivable, given that it should really have been spudded and completed by now according to previous communications.

And I really don’t understand where all the revenue from production is going. Too many hangers-on given the apparent lack of anything to do for our operational and communications directors?

How much longer before we’re put out of our misery?

[11_percent] 12/9/2019 10:03

Makes you wonder where all the cash went.

[rollthedice] 12/9/2019 09:54

So sub 17p & below the value of the supposedly significantly undervalued initial approach... AMER sure make it hard to be upbeat about (any) final bid prospects! :(

Seems like AMER are just twiddling their thumbs on operational issues now too. Indico-2 to drill some time in H2 even though rig was originally going straight from Sol-1, or at least that was my understanding at the time, and third party oil doesn't seem to be happening either otherwise why just refer to the initial batch 4 months ago?

[somnus101] 12/9/2019 09:48

The "multiple parties interested" in buying this company might be grateful to the plonkers - sorry posters - intent on depressing the share price of their investment. Nothing in the RNS should do it.

[ladeside] 12/9/2019 09:44

Standard neutral update for me, the thing to take is, "Management presentations with interested parties to be held in coming weeks", which in Amer speak means we're probably looking at end of 2019 at the earliest but most likely Q1 2020 for any sale going through.

Nothing to worry about though for those with a little more patience.........

[bryet] 12/9/2019 08:58

Never fails to let us down just want them now to get the best cash offer and then all us Lths can move on time that jam tomorrow came in as a good final price but don't hold your breath it will be more likely that the bod see themselves right at the expense of everyone else roll on the end of Amer.

[paradores] 12/9/2019 08:58

Agree FA. There would appear to be a bunch of “NaysayersR21; that sold at the recent high now looking to re-enter and would prefer to do at a discount to the rejected frog offer.

25-28p final price looks about right to me, some seem to have wild expectations which in today’s mkt are somewhat wide of the mark.

[blackdown2] 12/9/2019 08:57

Assuming OGNC is interested in acquiring the 30% of CPO 5 it doesn’t own, or the whole company, then presumably it is in its interests to drag its heels re further drilling.