Amerisur Resources Share Discussion Threads

[lucyp00p] 20/11/2019 12:49

One can't help thinking that asking OXY (dealing with investor fallout over Anadarko and having to sell assets to fund that deal) and ONGC (widely reported to be strapped for cash everywhere you google), plus insisting that a bid was made for the entire portfolio didn't inevitably lead to Geo offering such a derisory offer. No doubt ONGC and OXY will trade their equity with Geopark to buy the bits they wanted, leaving Geo with the pipeline and local production virtually if not actually free of charge. At what point will GC and JW be welcomed on to the board I wonder??

[thegreatgeraldo] 20/11/2019 12:40

Also understand the frustrations with the T/O price, but am not clear what the plan is in the extremely unlikely (imvh) scenario where the bid was somehow blocked.....

[rollthedice] 20/11/2019 12:23

My understanding is that scheme of arrangement is simpler/cleaner as with a takeover they can't force reluctant shareholders to part with their shares unless they acquire a very high percentage (90%?). But if they can acquire 50.1% they basically control the company and can do what they like with the business / assets. In theory if they went the takeover route they could just acquire a high number of shares from IIs & the market probably paying less than the current offer price in many cases as shareholders offload in panic as share price tumbles...

I think those wishing to block Geopark are on a hiding to nothing given BoD are onside. I can certainly understand their frustration though.

[tyler durden1] 20/11/2019 12:19

If it were that certain R&M would not be offloading at less than the 19.21p

[bigwavedave] 20/11/2019 12:08

Rollthedice - what does that mean, in effect? What is the point of a 75% threshold if they can then just ask for 50.1%. Confused :-/

[kaos3] 20/11/2019 11:54

tyler - nothing to do with luck. both were like amer - great assets, management with a good past track record. Due to my risk management it did not hurt be too much.

what I learned from them is valuable. Hence my "cynic reality check posts" sometimes.

Also system not working well for certain stakeholders.

PS - kaos (chaos) in the math terms means perfect equilibrium in specific time snap and ever changing beauty at its most (fractals)

depends who looks at it based on his preferences and education

[rollthedice] 20/11/2019 11:29

I think it's worth reminding ourselves that Geopark have reserved the right to proceed by way of a Takeover Offer (requiring a simple majority to agree to take control) if they can't get the 75% for the preferred Scheme of Arrangement.

[underhill2] 20/11/2019 11:19

I dont see any risk. The lowest offer will be 19.21 so anything above this is extra profit. 60 million shares is minimal and will in my opinion have little affect the vote.

[rollthedice] 20/11/2019 11:17

60m shares though impressive is <5% of shares in issue.

If no counter bid is made why wouldn't 75%+ vote for cash offer given AMER's track record of failed delivery?

[tyler durden1] 20/11/2019 11:13

Underhill That's unsafe as it assumes the bid will go ahead when you have allegedly 60m shares willing to vote against and then holders like myself waiting until last minute to see if another bid transpires before any action.

[rollthedice] 20/11/2019 11:13

^ I made that very point yesterday. The potential for a quick if modest turn grows daily. Those buying for that reason will vote for the deal negating those who would vote to reject deal. With every drop the resolve of those who say they will vote against will also weaken as 19.21p becomes more attractive than a share price on a downward trajectory. The deal will pass if no-one else throws their hat into the ring. With every day that passes that looks less likely IMHO as potential bidders will already have run their own measure over AMER and now know benchmark.

[underhill2] 20/11/2019 10:49

Because the price is dropping every day it's a good opportunity for some buying and waiting for the 19.21p. Not a lot of profit yo be made but at least its a profit.

[thegreatgeraldo] 20/11/2019 10:27

Anyone worked out where the $670 mill comes from? Or is the figure just being accepted?


seekingalpha, imvh, are reliable, but they don't share their workings

[tyler durden1] 20/11/2019 10:26

you had all of those...bad luck there. I can see why you named yourself Kaos3. Hope this works out better for you

[tyler durden1] 20/11/2019 10:09

If anyones that upset they can always email the takeover panel


[e-mail]

[kaos3] 20/11/2019 09:31

I ll repost my two posts somewhere else with a slight correction:

a)
I studied frauds via shorters being burned on underperforming Cos.

Clever BOD operators sell their Cos to a buyer at bellow the min price (in kind bribe to a buyer) - in order that their deeds newer come to the light

b)
system does no work imho

when one active shareholder sees BOD:

lying, rewarding them self with options etc, missing their own targets, not supporting the share price when hugely undervalued etc etc

he can do nothing - despite being obvious.

system is broke.

one should be able to stop such deeds directly and independently through a regulator (costs of acting as a small individual against a big Co using CoS money are prohibitive) - and not be at the mercy of the ignoring majority. direct root must be developed

it is a huge AIM and broader problem imho

[donaferentes] 20/11/2019 09:14

Anyone know if/how much Michinoko holds in Geopark?

[lucyp00p] 20/11/2019 09:01

I think it's rather too late to put that genie back in the bottle.

[tyler durden1] 20/11/2019 08:58

In danger of being self defeating

It gets known shareholder disquiet. Some holding for 19.25p then wonder if it will go through and start selling.

Price drops and some committing their shares to a campaign get cold feet and start selling.

Result price crash but making the bid 19.25 then look more attractive to those holding

So shoot across the bows, but be careful

[kaos3] 20/11/2019 08:24

well - if that is so what helps - throwing some "formal" sand into the machine to delay the process - if nothing else - it would make fun to watch BOD then - for entertaining purposes

[lucyp00p] 20/11/2019 08:11

Share options baby. They can't cash them in unless there is a fire sale. It's the crime of the century.

[wskill] 20/11/2019 07:27

Yes it seems our board have done a very good deal unfortunately only for themselves.

[acv74] 20/11/2019 06:54

It's like walking into a car showroom and the salesman telling you it doesn't matter how little you offer for the gleaming new car, it will be yours today. Because everything must go, it's a closing down sale. You have to be willing to walk away if the right deal isn't there.The seeking alpha article is almost too annoying to read.How the hell did we move from an exciting company who would drill 14 targets in 2019 to a fire sale, closing down sale.

[stmellons28] 20/11/2019 05:01

This proves just how much we’ve been ripped off. $670million