Amerisur Resources Share Discussion Threads

[lucyp00p] 24/11/2019 16:27

I'm sure the institutions won't be posting here.

[danieldruff2] 24/11/2019 16:21

I think we're all trying to rationalise away why we didn't get the profit we expected from this one. I made a 2K gain when I expected 20K so rather sick about it as well, but I've sold and moved on. My one nagging fear with this share was always how difficult things actually were on the ground with shooting seismic, drilling wells etc, probably worse than they let on, they were always a little coy. This sale has a Colombia discount applied, and that discount is 50%.

[acv74] 24/11/2019 16:14

I'm not selling a single share.

[acv74] 24/11/2019 16:13

ML I agree, not sure what value there is in pursuing a legal route at this stage.I suggest we all attend the meeting in December and demand transparency and answers. There are lots of questions that need answering.We can also all vote against the proposal, if some II's join us we have every chance of getting 25%.All still very much to play for.

[moneylender] 24/11/2019 15:29

Afternoon all

Just spend some time going through all the emails and checking for errors etc.
Totals are not as good as I previously indicated due to double count prob by
myself whilst under the influence of Stella!

I have had some 145 pledges of support, giving a grand total of 75,000,000 shares
just under 6% I think!

I am not sure of the way forward from here, I was hoping by now the ‘NO’ decision would have been removed by a white night coming forward. We have had pledges of financial support if we take it legal but that could/would involve heavy costs on our part and the bod would fight it using company funds as is their right.
Also exactly what would we be challenging? So far all they have done is ‘recommended’ an offer, just because we disagree with that offer doesn’t make it illegal.
I see there are reports of unrest and curfew’s in Colombia as well, not good for inviting top dollar bids at the moment!

75Million is still a good chunk of support but is it enough to stop a sale?

Any Institutions out there that have similar views?

[sabre6] 24/11/2019 13:42

Fark this for a laugh!

[quidnunc] 24/11/2019 11:31

Three days of protests in Bogotá and a military crackdown. Is this the reason JW wants out? Seems unlikely given that he oversaw operations all through the Farc campaign. Q

[rich2006] 24/11/2019 11:14

Daylight robbery springs to mind

[lucyp00p] 24/11/2019 10:21

Depressing isn't it. Simple investors like us are no match for organised corporate theft.

[tyler durden1] 23/11/2019 15:03

Cannacord. No wonder they've given irrevocable undertakings, they've been citing Geopark as a buy for some time and this deal that Geo themselves show is undervaluing Amerisur would be a possible way of ensuring some have success with Geopark.

Just check when the last buy recommendation by Cannacord was. Its interesting.

Holding a very strategic position in Amerisur but recommending Geopark as a buy, and giving an irrevocable undertaking on a very low offer that Geopark's figures suggest to use someone else's words MATERIALLY UNDERVALUES Amerisur

[norman the doorman] 23/11/2019 13:52

Let’s get Ameriexit done ! 💰

[tyler durden1] 23/11/2019 10:19

No its the Ameriexit thread now.

[d1nga] 23/11/2019 08:39

Is this thread turning into a brexit version?

[norman the doorman] 23/11/2019 08:04

Canaccord aren’t tied to irrevocable undertakings if there is a revised offer above 10% according to Appendix 3 of the document although Mich and the directors are so maybe there is still a bit of wiggle room for a better price.... here’s hoping.

[kipper62] 22/11/2019 16:12

Rollthedice you are right in referring to the 5 year performance, particularly for those of us that have held/bought for that length of time and beyond. Newbies who picked up at 12p or less as a result of the BOD's incompetence will be rightly content walking away with their 19.2p. How do you have a great little company? Give a great big enterprise to our BOD and just wait.

[tyler durden1] 22/11/2019 15:14

One problem is that the irrevocable undertakings make life hard for any other bidder

[tyler durden1] 22/11/2019 14:59

The takeover panel have the right to halt the Geopark bid if they believe it warrants it.

The problem for me is that not too many RNS's ago we were told about the massive value added?

We were told about a 17p materially undervaluing and asking holders not to sell?

We were also told about transformational events

Amer are producing decent oil with so much more potential from CPO5 otherwise you can bet your life ONGC would have drilled it but instead have kept it back until after any FSP, which does suggest collusion somewhere along the line by some party or another

[kaos3] 22/11/2019 13:49

at the end of 2018 most of their cash was on deposits and at the banks.

at the END. it looks it was OK of what was there in that one specific moment in time - banks and deposits, not hidden under commercial receivables imho (at least not a lot)

[kaos3] 22/11/2019 13:44

who is Fenix

These relate to intercompany loans to subsidiary undertakings which are non-interest bearing and have no fixed repayment date.The movement in the year included a net repayment of intercompany loans of $14.0m and an impairment of new loans to Fenix of $0.5m

[kaos3] 22/11/2019 13:37

what does this line from 2018 AR mean?

We apply the concept of materiality both in planning and performing our audit and in evaluating the effect of misstatements.

[rollthedice] 22/11/2019 13:15

@dayway ~ There won't be a no vote (IMHO) and even if there was it'd go through as a takeover offer so I might as well wait and get the 19.21p. I'll vote for Goepark's offer unless there's a better one tabled or IIs make it clear they'll take a broom to existing BoD.

It'd be nice to know what other proposals were discussed but they're probably covered by confidentiality clauses and none of those parties have since tabled an offer directly to us, the shareholders if BoD won't play.

Anyway my views are clear so I'll give you all a rest now unless there's further developments!

Last thought though ~ I wonder how much cash has been burned to fund this process...

[wskill] 22/11/2019 13:10

Really think the only way is to remove GC and JW then we can get a look at the books and see where the cash has disappearing to.

[kaos3] 22/11/2019 13:08

as I said - we know what we are told by "our" BOD

we should know what the other interest were if any and why this is the best one? criteria?

were there better interests for shareholders only ( in our opinion)is what we must find out and the reasons why only this one was presented to us.

and for that to find out we need special legal (city insider) knowledge (which act which section which line....) to put the right question which MUST be answered

all imho

[dayway123] 22/11/2019 13:08

Rollthedice, wouldn’t it be better that you took what’s on offer and walking away rather than you risking a no vote.