Amerisur Resources Share Discussion Threads

[stmellons28] 20/11/2019 04:46

Relative to NAV. Between the estimated value of the CPO-5, Platanillo, OBA, Oxy carry, and cash, the net asset value of Amerisur roughly comes to the neighborhood of US$670 million. By paying US$315 million, GeoPark gains the control of assets that are worth US$670 million, with an implied discount of over 50%. In other words, the acquisition helps add approximately US$5.9 per share of additional intrinsic value to GeoPark stock.

[mrx001] 20/11/2019 01:19

Thinking of why the current winning offer may have been recommended, I came to the conclusion that oil companies are out of favour at the moment and certainly all the ones I hold are all well down on what investors think they should be worth, an example being HUR. This is also linked in with a lot of the major oil companies seeking to move into renewables rather than upping their investments in oils. This is not an attempt to support the board since I think they done an attrocious job. It is also not an agreement with what the majors appear to be doing since although the media is painting oil companies as the baddies unless we wish to make a swift return to something like stone age life, it is my view that oil will be with us for a lot longer than some people would like to believe. It is rather like tobacco companies being ditched a while back and yet they have continued to provide good returns, not that I support tobacco companies. :o)

[thegreatgeraldo] 19/11/2019 22:31

If a higher offer were to be received..... do you think the GPRK bid would complete?

[rich2006] 19/11/2019 22:24

I find it strange that michinoko will still vote in favour of the geo Park offer even if a better competing offer comes in.

1. This irrevocable undertaking is granted by Hargreaves Hale Limited on behalf of Marlborough Special Situations Fund, Marlborough UK Microcap Growth Fund and Marlborough Nanocap Growth Fund..

The obligations of the Amerisur Shareholders under the irrevocable undertakings given by them as described above shall lapse and cease to have effect: (a) if the Scheme Document (or, in the case of a Takeover Offer, the offer document) is not released within 28 days of the date of publication of this Announcement or such later date as GeoPark and Amerisur may agree; or (b) if GeoPark announces, with the consent of the Panel, that it does not intend to proceed with the Transaction and/or if the Transaction lapses or is withdrawn, and in either case no new, revised or replacement acquisition is announced in accordance with Rule 2.7 of the Code. The irrevocable undertaking given by Canaccord Genuity Wealth Management shall also lapse if a third party announces a firm intention to make a competing offer for Amerisur on terms which represent an improvement of not less than 10 per cent. of the value of the consideration offered pursuant to the Transaction which is not at least matched by GeoPark. The irrevocable undertaking given by Michinoko Limited remains binding in the event a competing offer is made for Amerisur.

[lucyp00p] 19/11/2019 21:32

I tried to post my response to the article on the Alpha site, but couldn't get an ID for some reason, so I'll post it here instead.I regret to inform Geopark that there is no way in a million years that this sale will meet the 75% shareholder threshold required for acceptance. Shareholders are currently looking in to measures to oust the Chairman and his cronies from the board as they have concluded this process for purely selfish means and will not be welcome back after this debacle.

[moneylender] 19/11/2019 21:05

From Seeking Alpha

Relative to NAV. Between the estimated value of the CPO-5, Platanillo, OBA, Oxy carry, and cash, the net asset value of Amerisur roughly comes to the neighborhood of US$670 million. By paying US$315 million, GeoPark gains the control of assets that are worth US$670 million, with an implied discount of over 50%. In other words, the acquisition helps add approximately US$5.9 per share of additional intrinsic value to GeoPark stock.

shudda been £1 by Xmas

[acv74] 19/11/2019 20:26

...and then the BOD dare to spin it to us that it's a great deal, like we are the great stupid unwashed.

[acv74] 19/11/2019 20:12

A discount of over 50% to NAV...says it all. Makes my blood boil that OUR company is being sold on the cheap with no real explanation.A disgrace.

[thegreatgeraldo] 19/11/2019 19:49

Can't remember if it's the same guy, but seekingalpha did a cracking write-up on GPRK a couple of years ago...shifted the share price last time... maybe GPRK is better known these days. This latest article is up to standard

[farview1] 19/11/2019 19:45

Agree but it's a reasonably factual and objective article. Overall it suggests that this is a damn good deal for Geo which of course most of us agree.

[farview1] 19/11/2019 19:40

Completely agree, let's hope this is early days in the bidding.Not selling mine and voting against the offer.One day the Indico results will come out so a failed low bid doesn't mean a share price collapse

[thegreatgeraldo] 19/11/2019 19:38

Thanks for the link..... although the writer of the report doesn't breakdown where he gets the NAV of $670 mill from..... it's just introduced....will have a proper look later

[underhill2] 19/11/2019 19:34

Shows you what a giveaway 19.21p is. I just can't see how this offer has Been agreed by Giles Clarke and his merry band of directors. At that price it's the sale of the Century !. Giles Clarke must think us small private investors are mugs. This whole debacle makes no sense

[farview1] 19/11/2019 19:22

GeoPark: The Value-Accretive Acquisition Of Amerisur $ASUXF https://seekingalpha.com/article/4307773This is worth a read. Reckons Amer is worth $670m

[thegreatgeraldo] 19/11/2019 19:21

Looked it up last week - $35 mill rings a bell?

[eddie_yates] 19/11/2019 19:16

Can anyone recall how much was raised in the placing at 25p?
Thanks in advance

[underhill2] 19/11/2019 18:11

Maybe use the proceeds to get some English lessons so we can understand what you post ! Innit a gud idea

[fsawatcher] 19/11/2019 17:17

rudolf gettin nuffink this years

[fsawatcher] 19/11/2019 17:16

i not wait till march for cash

some fudger sayin we not gettin cash til aprils

wot the phart is goin on

i need cash cos otta pay off santa

[underhill2] 19/11/2019 15:00

Never take any notice of Advisors or Company Brokers.

[11_percent] 19/11/2019 13:25

….SCAM....

[rollthedice] 19/11/2019 13:19

With each notch downwards in the share price AMER becomes slightly more attractive for those interested in making a short term return between now & deal going through ~ it's already almost 3% (18.66 -> 19.21)

[tyler durden1] 19/11/2019 13:15

Andrew 25013

Oil price is higher now so they can't put it down to plunging oil prices

[tyler durden1] 19/11/2019 12:49

But the slack taken up by others which does not correlate to the Geopark bid being the final bid.