Amerisur Resources Share Discussion Threads

[eddie_yates] 17/11/2019 15:25

What happens if owners of shares don’t vote either way?

[eddie_yates] 17/11/2019 15:23

Make your mind up Underhill!!!

Underhill216 Nov '19 - 10:17 - 24892 of 24938
With the current stale Management Amerisur will never come good.
Im voting for the offer and moving on.

[dayway123] 17/11/2019 14:54

I will also be voting no.

[underhill2] 17/11/2019 14:17

I have done the same

[moneylender] 17/11/2019 12:28

We should all get intouch with our brokers now and vote NO.
This is robery without a mask, if GC and NH thinks this will
pass without a fight they are mistaken.

Allready there are moves to organise shareholders, tick this post up
if you are prepared to support

[sabre6] 17/11/2019 12:12

Vote NO to the offer!

[rich2006] 17/11/2019 11:49

Assets of $312mm June 30th 2019 and net cash of $46mm(including $15.6mm restricted cash)
Shows the offer does not even meet the basic asset valuation in June 19 Of £275mm based on 1.3 conversion rate.

[rich2006] 17/11/2019 11:28

Taken from RNS for the offer



Information relating to Amerisur

Amerisur is an AIM quoted independent oil and gas company focused on production, development and exploration activities onshore Colombia.

Amerisur has a strategic position in the underexplored Putumayo Basin that covers 11 operated blocks. These include Put-9, Mecaya, Terecay and Tacacho where it is operator and a 50 per cent. partner with Occidental. This follows a farm-out agreement in November 2018 where Occidental agreed to fund a $93.25 million exploration and appraisal programme between 2019 and 2021.

Amerisur's Putumayo Basin position also includes the operated and 100 per cent. owned Platanillo oil field which produced an average of 3,603 BOPD in H1 2019 and contains 12.3 MMBO 2P Reserves as at 31 July 2019 (as set out in the McDaniel & Associates Competent Persons Report as at 31 July 2019). Production from Platanillo is exported through the OBA pipeline, a strategic infrastructure asset constructed by Amerisur, and onto the Esmeraldas port in Ecuador through the RODA and SOTE pipeline systems.

The OBA pipeline has enabled Amerisur to reduce transportation costs from the Platanillo field from approximately $14/BBL to less than $4/BBL and improve operational uptime. The OBA pipeline has sufficient technical capacity to ship oil volumes produced by third party operators within the Putumayo basin which started to generate additional revenues for Amerisur from May 2019.

In addition, Amerisur has a 30 per cent. interest in CPO-5 in the Llanos Basin where it is partnered with operator ONGC. 9.5 MMBO 2P Reserves (net to Amerisur, as set out in the McDaniel & Associates Competent Persons Report as at 31 July 2019) have been discovered on CPO-5 since Amerisur acquired its interest in it, following successful exploration of the Mariposa and Indico fields in 2017 and 2018 respectively.

The Mariposa and Indico fields delivered 1,949 BOPD working interest production in aggregate in H1 2019.

Amerisur directly employed 97 employees as at 28 September 2019 and generated revenues of $53.8 million in the six months ended 30 June 2019 ($67.9 million in the six months ended 30 June 2018) and profit before tax of $4.4 million ($12.5 million in the six months ended 30 June 2018).

As at 30 June 2019 Amerisur had total assets of $312.0 million ($277.7 million as at 30 June 2018) and net cash of $46.0 million (including restricted cash of $15.6 million).

Amerisur's registered office is in Cardiff, with additional offices in Bogota, where the majority of staff are based, Asuncion and Quito.

[rich2006] 17/11/2019 11:19

$93mm carry for farm out of certain assets then $19mm for purchase of PUT -8 50% interest with occidental.not taking into account a value creation from the carry.
$46mm in cash at June 2019.
That’s $158mm based on recent transactions.
Leaves the CP05 assets, all our other assets, OBA etc all production light oil 6865bopd for September and all reserves valued at....
$154mm
Shocking deal IMO bwtfdik

[lucyp00p] 17/11/2019 10:33

Rule 8.3 announcements will tell us all we need to know. I'm betting Rex Harbour will have some.

[kinwah] 17/11/2019 09:32

The Geopark offer was the best ready to proceed cash offer but the board must be anticipating other offers to come in which are subject to financing or involve part shares part cash. It's a bit like putting your house up for sale and saying it has to be a cash buyer to complete by Christmas. It leads to a quick deal but it won't get the best price. I am hoping companies who need to raise the finance are talking to their investors to see if they can counterbid. M&P are roughly 75% owned by Pertamina but with a Euronext quote. Practically all M&P's production comes from Gabon. Strategically a deal could still be attractive to M&P but they weren't in a position to win the auction process leading to a cash bid. The heavy turnover in the shares on Friday looked like arbitrage buying by hedge funds taking a punt on another offer coming in. I don't see massive upside but Rule 8.3 announcements this week might be interesting.

[astorcourt] 17/11/2019 04:20

Terrible stitch up

[tommygriff] 17/11/2019 01:06

Sorry just re checked and as it happens they have resigned / cessation late sept.I've had a beer with these people and thought we were in good hands!

[tommygriff] 16/11/2019 21:28

Then ask where JW a lowly BP drilling engineer got the dough to buy Mercury. I know for sure I didn't get the option to buy Mercury!

[tommygriff] 16/11/2019 21:18

Ironveld did the RTO of Mercury recycling. Where did the assets and the trading business of Mercury Recycling go?Check companies house who's the Chairman, JW's brother and it's now owed by JW.

[tommygriff] 16/11/2019 21:12

I'll fight them in Wales, I'll fight them London, I'll fight them in Bogotá me and the boys are having this lot

[kaos3] 16/11/2019 20:12

maybe Bogota lol
why not GC

[acv74] 16/11/2019 19:43

There is going to be a meeting, I trust it will be in London rather than hidden away in Cardiff.We should all attend.

[tommygriff] 16/11/2019 19:33

Paid there self a fortune this BOD! They can't be allowed to get away with it!I'll be attending the meeting where ever it is. I'd advise they put some security on!