Amerisur Resources Share Discussion Threads

[tommygriff] 16/11/2019 09:59

They should have listed this company in Canada 5 years ago! We would be 500m co if this had happened imo

[mortgage freeman] 16/11/2019 09:55

There is a small risk in holding.A) There is lost opportunity for gains (or losses) elsewhere.B) There is risk in the possibility, as 75% is required, that the bid fails and we remain stuck with the BoD.But, there is the (mouth watering) possibility that this could be or is the next stage in what would now be a hostile bid process.£2.4m fine or fee for another bid coming is not really relevant.For me it's with the wait and as only B) is the downside.

[lucyp00p] 16/11/2019 09:45

If we don't vote for this it won't happen at all. As has been said before, if we don't sell for a lot, we can still operate at 5k bpd. In fact just close down the operations for now let Oxy prospect and take the cash from CP05.

[tommygriff] 16/11/2019 09:43

I would have preferred them to tick along paying £30m dividend every year than this

[acv74] 16/11/2019 09:42

I don't believe any conspiracy theories.Make your votes count guys

[tyler durden1] 16/11/2019 09:36

kaos

I believe we are passengers on the Amer train and not much we can do but wait.

[kaos3] 16/11/2019 09:28

paradox - kaos and tyler are remainers

[tyler durden1] 16/11/2019 09:20

chopper. it might be, it might not.

what is apparent is many posters have suggested share price being managed for some time, and many others have commented about Amer not appearing to be interested in protecting the share price and a drilling campaign that must have been hard to have failed that badly?

Just look at the RNS comment about 'materially undervalued' at 17p. Does anyone believe that GC, JW & do not look amazingly bad over that?

Yet apparently board unanimously support bid of just over 19p.

[tyler durden1] 16/11/2019 09:06

chopper. Is he shafting shareholders, or is he just going through the motions of appeasing Mich, who are suspected to have required the FSP?

What it does do is focus on right back to when RH started his disposals, disposals that were largely not disclosed to shareholders, and where even then it appeared to some that Amerisur were not doing much to staunch the drop in the sp, and where even then drilling campaigns that were fully funded, never got anywhere near, so from the period of RH selling right up to the present time.

If you were trying to support an share price you would do everything possible to produce good news and hit targets for production drilling etc. etc. Not doing so makes it look by design.

The drilling campaigns fully funded have failed spectacularly to hit targets moreso since the RH disposals than any time in Amerisur's history imo and at a time when good news to support the share price was needed. I don't believe that is bad luck.

Its quite normal for oil companies not to hit drilling targets, but the timing and the spectacular failure in Amerisur's performance with even news seeming to be written in the worst light for the SP, since the early disposals by RH until present time seem far far different, they are spectacular failures and must be hard to achieve that?

For those who think the BoD and GC are stupid, think again, although I do still have concerns that any pathetic bid might be topped by an MBO, but that would create a very big stink.

With no drilling, there should be very little expenditure, certainly no options, and a cut in wages, as what else has the BoD been doing or perhaps planning well in the face of pressure on them by Mich?

Time will tell.

[kaos3] 16/11/2019 09:02

underhill - I thought of no TO too - there is lots of cash and potential - the reason I invested in the first place - and a "more and more shaken BOD" - which is a progress.

one has to take into the consideration that there must be internal BOD disagreements too and that there are also decent people there - not just predatory sleazy ones who are in control ATM

[chopper harris1] 16/11/2019 09:00

A reasonably-sized article in yesterday's London Evening Standard, focused on Clarke being set for a £3.6m payday after AMER agreed a £242m offer from GeoPark. Also mentions his previous, successful involvement with Majestic Wine.

It's accompanied by an archive photograph from 2008 of Clarke looking very pleased with himself alongside Allen Stanford, who he signed a multi-million deal with when Clarke was chairman of the ECB. The article ends by reminding us that Stanford was later jailed for a giant Ponzi scheme he cooked up in Antigua.

Unfortunate for Clarke, perhaps, that the Standard should choose that particular photograph to accompany the news of the GeoPark deal. But I think it's pretty apt and well-deserved, given the part he has played in shafting AMER shareholders with his arrogant and poor leadership over the past few years and particularly with the acceptance of this ridiculous offer.

[tyler durden1] 16/11/2019 08:57

Coming round to the view that Giles and Co. are engineering a bid that will fail but with plausible deniability by unanimously recommending it.

Mich. can't then complain that Amerisur didn't do what Mich required.

GC and BoD can even point to giving shareholders 'advice' that the first approach materially undervalued Amerisur, which does rather make them look completely stupid, and they are not stupid.

Its the nasty shareholders Mich says GC?

Mich has 2 options, sell out or stay put. Selling will do the same as the RH deal did unless a white night comes in to take them all, or an MBO?

Many posters commented that Amerisur did not seem to want to protect the share price at all, even in the RH sell off, and certainly not in the FSP process with drilling campaigns doing f all not just recently but from the RH disposals, which the BoD seemed reluctant to confirm, and with the share price movements giving distinct impression of share price management within a range. By accident or by design? BY DESIGN? the latter seems more likely.

Meanwhile ONGC still pushing CPO5 without drilling, but clear intent shows they value CPO5.

[underhill2] 16/11/2019 08:55

The danger with that strategy is that if the deal is not voted for the share price is likely to fall down to maybe 12p. In my opinion the deal will be passed and we can all move on. Yes its a steal at 19.21p but thats what it is. The Market in this case was right. Thats why we never recently saw the share price move beyond the 19p range.

[kaos3] 16/11/2019 08:53

thinking in risk return probability

I did decrease some 30 % long ago (reason share price behaviour after approach and BOD credibility) but not now

I do not know if there will be another offer but from this price level I have a risk free fixed income type investment with a call option for free (another bidder)

why not wait a little bit longer after all this time?
it makes reason for me.

and I do not want my hurt feelings too run my investing decisions

[wskill] 16/11/2019 08:46

Will not sell any of mine will stay and vote against this derisory offer,would not like to think someone had been given a large brown envelope containing cash that should have gone to me.

[underhill2] 16/11/2019 08:46

There will be no other offer. This is not a game. All potential bidders have had months to make offers. 19.21p will be the only offer on the table. Yes its a very low agreed offer but you need to move on.

[juuunx2] 16/11/2019 08:40

I sold half to invest elsewhere and will wait and see for other half. Think we have been robbed though

[tommygriff] 16/11/2019 08:32

Makes me wonder if Giles has just had enough of business and wants out totally. He's knocking on after all.He may have health issues!The timing of sale just doesn't make sense with so much carried activity to come!

[underhill2] 16/11/2019 08:22

Its a similar situation at Ironveld. The Assets are worth at least 10p per share but I now expect an offer at around the current price of 0.70p. Thats life !

[underhill2] 16/11/2019 08:18

True but cash is king and 19.22p is all we get.

[tommygriff] 16/11/2019 08:11

Even there own broker values them at 37p

[tommygriff] 16/11/2019 08:10

Awful dealThey have 95m farm in, got a massive discovery in CP05, a pipeline with 3rd party crude Plus 40m plus in cash. A disgrace really, feel totally robbed!