Share Name Share Symbol Market Type Share ISIN Share Description
Amerisur Resources LSE:AMER London Ordinary Share GB0032087826 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00p -5.00% 19.00p 3,022,790 09:34:46
Bid Price Offer Price High Price Low Price Open Price
19.18p 19.62p 20.50p 18.80p 20.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 68.5 0.5 0.8 24.5 230.51

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05/7/201716:15Amerisur Thread - the one that welcomes any comment and not just blatant ramping47,903
13/2/201714:08Amerisur Resources - a new dawn24,240
26/4/201509:30Amerisur - Voting at the 6 May 2015 AGM-

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Amerisur Daily Update: Amerisur Resources is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker AMER. The last closing price for Amerisur was 20p.
Amerisur Resources has a 4 week average price of 15.60p and a 12 week average price of 13.14p.
The 1 year high share price is 27p while the 1 year low share price is currently 13.14p.
There are currently 1,213,205,768 shares in issue and the average daily traded volume is 11,510,614 shares. The market capitalisation of Amerisur Resources is £230,509,095.92.
moneylender: Amerisur Resources I met with John Wardle and the rest of the management team earlier this week and whilst there was nothing specific to add to the AGM statement there was a significant degree of optimism ahead of the upcoming work programme. With 14 wells targeting the Platanillo ‘N’ sands, CPO-5, PUT-8, 9 and 12 there is a huge degree of optimism for this summer and autumn. I had a number of people who wanted me to ask JW about the political situation in country especially ahead of the elections on 27th May. The FT had run an article suggesting further ‘war’ in country but John appears to be much more circumspect and feels that support for FARC is dwindling and there is more likelihood of a positive outcome as per the outcome in Ecuador. The AMER share price is significantly below what one might expect given the production and revenues at @$80 oil as well as what might be a summer of success with the drill bit. If any or all of these wells were to come in then the share price is more like option money with plenty of upside
winchcombe: AMER Annual Results for Year to 31/12/2017 16/4/2018 Financial Growing production and improving oil prices delivered a strong financial performance: -- Significant revenue growth of 96% to $92.5m (FY 16: $47.2m) -- Adjusted EBITDA of $19.8m (FY 16: $0.4m) -- Net cash from operating activities increased to $30.0m from ($3.3m) -- Strong cash position at year end of $41.3m with zero debt -- Post period end during April, Amerisur entered into a $35m working capital facility with Shell Western Supply and Trading Limited. Production and OBA -- FY17 average production of 4,857 BOPD, up 58%, with an average realised price of $50.0 per barrel -- Delivered 2017 exit rate of nearly 7,000 BOPD -- Diversification of production base from one to two oil fields in line with Amerisur's strategy -- FY17 OBA throughput average of 4,400 BOPD reducing average cash opex and transport costs per barrel to $18.6 (FY 16: $24.9) -- At $60 oil, with cash costs of production and transportation of below $20, cash netback in excess of $40 per barrel Exploration Drilling of seven exploration and appraisal wells: -- Platanillo-22 from Pad 2N at the beginning of the year identified an extension to the field to the north, with a deeper oil-water contact -- Mariposa-1 discovery in the CPO-5 block which sits on trend with the prolific Llanos-34 contract Outlook -- Up to 14 fully funded exploration and development wells planned for 2018 -- Ramp up of near term exploration activity: o N Sand anomaly at Pintadillo-1 is one of four such anomalies identified by the Company in the central part of the Platanillo block. The well is targeting estimated P50 resources of 11.44 MMBO o Regulatory permission received to drill the Miraparriba-1 well in the Put-8 block, a low risk U and T sand light oil structural target, with estimates of P50 gross resources of 4.4 MMBO. The well is expected to spud in early May 2018 o Indico-1, the first new well at CPO-5, estimated to hold P50 gross resources of 10.3 MMBO, is expected to spud by May 2018 Giles Clarke, Chairman of Amerisur, commented: "We exited 2017 with strong production growth, a diversified production base, further upside identified through our exploration success in the north of the Platanillo field and Mariposa-1 in CPO-5 and a refreshed Board. Amerisur has low cost production with cash netbacks in excess of $40 per barrel of oil produced (at $60/bbl selling price) and generates significant cash flow from its operations. We have a strong balance sheet of $41m cash; a portfolio concentrated on the highly prospective Putumayo basin with significant upside of 1,376 MMBO in the mid case; and a team with an excellent discovery and value creation track record. Although we are seeing an improving market environment, with the oil price ending 2017 at $60/bbl, we remain focused on capital discipline and delivering against our strategy of being cash generative at a sub $45 oil price, achieved through increasing OBA throughput which delivers strong operating margins." "2018 is focused on successful exploration, growing our reserves and production levels, continuing to diversify our production base, and increasing OBA throughput. We will do this through our active fully funded drilling programme of up to 14 wells, with the spudding of Pintadillo-1 in the Platanillo N Sand, Miraparriba-1 in Put-8 and Indico-1 in CPO-5 targeting 26 MMBO of prospective resources, to commence in the coming weeks. "Our extensive licence portfolio has delivered substantial exploration success and value creation to date and means we are well placed to generate significant future shareholder value."
foiledagain: Underhill so its nothing to do with selling? So RH disposing of millions of shares over a very prolonged period has no effect. I think you post according to your position. Good luck Underhill2 - 02 Feb 2018 - 11:03:09 - 6612 of 8188 Amerisur - AMER We have a declining share price because we have continual small selling going on. No other reason for the falling share price. When we have continual buying the share price will rise. Its not rocket science !
underhill2: Looks like worrying times ahead. I never thought I would say this but the share price may now be fairly valued. The recent large decline in the share price is the equivalent of a profits warning. The big worry is the share price may have lower to go. All this gloom and doom talk is having a snowball affect on the share price as the small private investors start to worry about their investment which in turn leads to more selling and in some cases panic selling.
underhill2: Good for you. Reserves update have rarely ignited the share price in previous years. Like you Im also an investor here. But I am also a realist as well. We all want to see a much higher share price. In my opinion that wont happen here until we are taken over. Current Mangement are happy to just jog along at a snails pace. One day the true value wil be reflected in the share price. The Market is telling us that the current Management are not the ones to add shareholder value. We may crawl back to 20p over the next few months but like you we want to see a much higher share price than !
thetoonarmy2: ShareProphets EPIC code: AMERAmerisur Resources can turn its fortunes around and has an exciting year aheadBy Gary Newman | Sunday 18 March 2018If you like this, please share this article using the buttons below Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.Amerisur Resources (AMER) has certainly failed to live up to the expectations of its investors and the share price has been in a downward spiral for several years now.But rather than viewing this decline as being terminal, I can see plenty of potential long-term value here, especially as you'd be buying at close to the lowest price that the shares have traded at – just 16p odd to buy currently.The company has oil assets in Colombia and Paraguay, as well as owning 100% of the OBA pipeline into Ecuador, and the team behind it has been running the company for over a decade and has brought it through to the production stage – albeit that growth in daily output hasn't been as rapid as some were hoping.Production currently comes from the Platanillo field and the last update at the end of 2016 showed that had 1P reserves of 15.1 million barrels, with over 24 million barrels of 2P. But there is also plenty of potential for further increases to reserves, and given all of the drilling activity during the past year, it is expected that these figures will show significant increases at the next update.Production has been on the increase and has been almost at the forecast 7,000bopd – during February it averaged 6,749bopd, and that included three lost weeks at Platanillo-6 which was re-completed with the loss of 300bopd during that time, but should now be back in production – with more than 5,400bopd being exported through the OBA pipeline.The OBA pipeline cost around $18 million when it was built, but the latest update from the company revealed that it had just transported its two millionth barrel through it in the 15 months that it has been operational, and that had saved the company more than $20 million in transport costs. That has also helped to reduce opex to $15/barrel – prior to the pipeline transport costs alone were running at $14.05/barrel compared to the current rate of just $3.90/barrel.With more drills to come at Platanillo, and also at its Putumayo blocks 9 and 12 – the Airu-1 well flowed at 450bopd – I would expect production to continue to increase, and that will result in further savings as a result of owning the OBA pipeline.In addition the company also owns 30% of CPO-5, and the Mariposa-1 well commenced production towards the end of last year, and was producing at a controlled rate of 3,100bopd whilst long term testing is carried out, and it is expected that there will be further increases there.As a result of this higher expected production in the near future, the company has entered into an agreement to construct the Chiritza re-pumping station on the Cuyabeno-Lago Agrio export line in Ecuador, and this will guarantee Amerisur with a minimum of 9,000bopd.It is expected to cost the company $3.7 million upfront, but that will be recovered as it will be treated as a pre-payment of the existing transport tariff over the first 5,000bopd. The plan is for this to be completed by October this year, and in the future further work could be carried out to expand the capacity that Amerisur can export – ultimately up to 50,000bopd.There is plenty of drilling to come, with the Indico-1 well at CPO-5 expected to spud within the next few months; a three well drilling programme at Putamayo-9 in Q3; plus a three-well programme at Putamayo-12 gets underway later in the year. The size of the prospective resources being targeted are such that success should offer plenty of upside, if any of the drills comes in as planned – total unrisked P50 resources for the company stand at in excess of 1.1 billion barrels.Obviously, all of this drilling doesn't come cheaply, although being onshore means it is still reasonable, but the company is fully funded for its work up until the end of 2018 as long as the oil price remains above $45 (in 2017 it typically traded at a $4.5/barrel discount to Brent). At the last set of finances, up to June 30 2017, the company still remained debt-free, plus at that time it had $29 million in the bank.Figures for the profitability of the company currently don't look all that impressive, although in H1 2017 it did generate net cash flows from its operations of $7.76 million, but it is still investing heavily in appraisal and exploration of its assets, as well as increasing production levels, so that is something that I am prepared to accept at this stage.This looks to be a company that has plenty of potential to grow in the coming years, and looks decent value to me considering the market cap of just over £190 million, as the upside could be large. It is also largely operating in an area, and in reservoirs, which it already understands to some degree from past drilling activity, and there is enough going on here during the remainder of the year to keep investors interested. In terms of the risks, no single well should damage the share price too much either in the event of failure, and in light of a fairly aggressive drilling programme.Colombia is a country which has had more than its fair share of problems in the past, but a lot has changed in recent years and it is now generally a safe and stable environment to operate in.At the current share price this looks to me to offer good risk/reward and I would view the shares as a good buy, providing of course that oil prices remain buoyant, which I expect them to do for the foreseeable future.
farview1: Surely there comes a point where the investment managers in the larger shareholders (Axa, Fidelity etc) need to really prove to their superiors that Amer is a worthwhile investment. There have been no dividends and the share price is going no-where - would have thought that pressure is building to make Board changes in order to generate a ROCE.I think the Rex situation has much less impact now. When Lloyd's finally got rid of Govt last year following years of share overhang the share price did not move sharply upwards as expected by many. I know there were new issues - Brexit and PPI to complicate matters.There are many plus points with AMER so why does the share price fall when it is already so low. Maybe one of the main shareholders will increase their stake soon. Don't want ONGC or another to make a low value takeover - a 50% premium to the share price only takes us to 24p - not good.
sleveen: From RNS 8/4/15 As a reminder, the LTIP awards in the Share Price Growth column in the table are five year awards with a three year vesting period. The base price for the share price growth is 37.22p, a 55% increase from yesterday's closing price of 24.0p. They will vest when certain performance criteria have been met - 50% when a 33% growth from the base price share price has been achieved (a 106% increase from yesterday's closing price) within three years (10% per annum compound), a further 25% on a 52% increase from the base price (a 136% increase from yesterday's closing price), (15% per annum compound) over three years and the final 25% on a 73% increase from the base price (an 168% increase from yesterday's closing price), (20% per annum compound) over three years. The share price target must also be held for 30 calendar days. The LTIP awards in the Pipeline column in the table are five year LTIP awards with a three year vesting period and relate to the successful installation of the pipeline and commencement of operations. The vesting of the pipeline LTIP awards will be determined by the Remuneration Committee's assessment of the results of the commissioning and operations of the pipeline. Clearly the BOD thought the OBA would be a money we all did!
charlieeee: Any bonuses should be entirely linked to a formula of net earnings or share price (in their control) and commodity price (out of their control)and I agree, FA, that JW's performance, particularly in 2017, needs to come under scrutiny. If company strategy has been good (and I believe that it has) then the BOD, like ourselves, should be rewarded when it comes to fruition, as measured in the share price. The OBA is a good example. An excellent strategy in cost cutting, it was completed, but late and not operating at any thing like the capacity expected, both of which have had a financial impact and damaged sentiment and with it, the share price So management were rewarded too early: they should, like us, only benefit when their strategy translated into ongoing improved earnings/SP. The same applies to the acquisition strategy. As has been pointed out here in some excellent recent posts, the actual physical areas and number of leads owned by AMER have increased exponentially over the last 3 years. In particular, management have managed to collect for very little cost a huge area of contiguous blocks, which will undoubtedly make this company a take over target (it is the Majestic Wine/Pet City model: stage one build up critical mass). To date, however, those blocks (mostly) sit idle, a sleeping giant, and are not reflected in the share price and so the BOD, like us, should not expect reward yet. In contrast, CPO-5 is translating into an exciting play and once that is reflected in net earnings/SP, nobody would be happier than I, to see them rewarded with shares options, provided that these were locked in for a couple of years ie the reward is for long term performance. For what it is worth, I see them as an extremely competent BOD overall. They have exercised prudent financial management and generally seized times of adversity to turn into focused opportunity, but it is the absence of lining up the timing of their rewards with ours, which causes such anger.
al101uk: It's the discount rate :-) "I have been number crunching all morning and keep coming back to a fair value right now of 46p so I'm not sure why the share price should be trading at such a discount" I actually stopped bothering to value the company when we got below 20p for exactly the same reason, seemed little point when I couldn't imagine a world where the discounted value of future cash flows justified the drop in price.... I don't see the point of valuation if you can't get a sensible assessment of current price as baseline. No intention of restarting until there is new information. Likely to be the publication of the reserves report or a good indication of what we have at CPO-5. All the negatives I was using to stretch down to 20p appear to be clearing and sentiment seems to be improving, hopeful that fadilz model is now broken because that would indicate to me that the company has turned a corner and shortly thereafter sentiment should do the same and from fadilz current target not being met, we should quickly accelerate past it. Why? Because his model is relative and has tracked share price performance over a period of time when sentiment has been unremittingly negative, somewhat justified by the businesses performance and the general macro environment. Basically investors have only been willing to pay the bear minimum for the shares and in general that view has been re-enforced as we headed down. The first step away from the model should be the business performing better than the share price would suggest, as fadilz model looks at the business and ignores sentiment that should result in fadilz predicted share price being in excess of where we are (the situation he now finds himself in). The next step is for the share price to catch up with the business and then, as sentiment improves, overshoot his target price and head towards what in my view is a more reasonable valuation for the company. No offence Fadilz ;-)
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