Amerisur Resources Share Discussion Threads

[eddie_yates] 21/2/2018 13:32

Well said acv74

[acv74] 21/2/2018 13:29

Would be good to see:A) a drilling plan for 2018, we are told there are 16 targets, andB) surely it's the job of our city professionals on the board to speak to any large unhappy shareholders to resolve any differences or find a home for their shares. Our chairman for one is paid very handsomely indeed, he should be resolving any problems not adding to them.

[lucyp00p] 21/2/2018 13:07

Where can I find details of the stalled drilling program? Or is this between the lines

[davwall] 21/2/2018 13:05

Charlieeee, ONGC Videsh might not be the quickest (neither is AMER) but they do at least do everything by the book and appear dependable. Two potentially significant wells are now in the offing, despite being situated in an environment where they feel obliged to give their CPO-5 manager a bullet-proof vehicle. Thank heavens for ONGC-V...and good luck to their man on the ground!

[bigwavedave] 21/2/2018 11:54

FA - Ok, I see. As people say, RH will complete his sale eventually. Maybe "eventually" will happen sooner than "imminently." One can always hope!

[charlieeee] 21/2/2018 11:46

In the greater scheme of things, Fairview, the Amer holdings are not significant for the likes of Axa etc.

As holders of Amer, we should all now have a real understanding of the dilemma major holders face in exiting their position without trashing value. (One did exit last year,largely by transfer to Michinoko, but that is not the norm and cannot be the route for all).

The expectation is that this will be sold and the long term IIs will ensure that it is not sold on the cheap and they do get their return on capital: I doubt they (any more than we) look for dividends: wrong beast.

For all that I am frustrated by the current hiccup on the drilling front, I can still see that the company is building a significant asset base and announcement of extension across the river into Ecuador, would certainly underline the expansion achievement.

[farview1] 21/2/2018 11:36

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.

[charlieeee] 21/2/2018 11:33

Well, you said it yourself, FA,you repeat everything "for the umpteenth time", but sometimes there is no harm in re evaluating any position.

My take now on RH is that he wants out of Amer, to the last share and that he has a price (which looks to be just above 20p).

If I am right, the BOD have 2 options.

A. Buy his shares (company buy back or new II or one of the existing increasing)
B. Release a stream of good news, forcing the shorters (much reduced already)to close and the market to absorb the balance: in volume trading, that 40m would be absorbed quite quickly.

You are suggesting that it is right that they should sit on their hands and do nothing.

How does that solve the problem?

Apart from anything else, it is not "news" itself, which is important, but the increased profitability and cash (which could be used to buy back shares on market and halt these extreme dips on low volume).

I have no doubt that we will have a good news flurry, particularly as the AGM approaches and the lynch mob attends with nooses at the ready (many for GC and mine for JW).

Just out of curiosity, how does burying bad news fit in with your current theory?

[foiledagain] 21/2/2018 11:31

bigwave

But then you do get notification until a seller finishes a transaction. That's why institutional buyers of some of RH's holding had to notify, but RH didn't.

We know RH has continued selling, but there has been no notification from him at all, the only notification being by virtue of our registrars, which was a result of complaint from some shareholders that RH was selling but holders were not made aware.

Because we have had no notification and selling continues or did in the last count its reasonable to suggest his transaction has not concluded, and when it does would at least give an indication from RH.

All the time the registrar reports a reduction of holding is not quite as important as when RH notifies the market of sales, as if they were individual sells taking him through notifiable thresholds he would already be compelled to notify.

[al101uk] 21/2/2018 11:24

I also tend to think that JW makes a far better Geologist than CEO. An Operational leadership role, I believe, would suit him far better, given his attitude of "I just want to dig holes".

[al101uk] 21/2/2018 11:19

Two of the primary responsibilities of a Chairman:

As well as being chairman of the board, he/she is expected to act as the company’s leading representative which will involve the presentation of the company’s aims and policies to the outside world.

To ensure effective communication with shareholders and, where appropriate, the stakeholders.

Along with maintaining the general composition of the board and guiding general company strategy.

If these are the criteria on which GC should be judged I'm not sure where you would score him positively.

General strategy would include the farcical building and roll out of the OBA surely? We all know how poor his communication is and we've also seen what, at best, could be termed poor judgement in the appointment of non-execs.

Surely the company could still retain the positives that GC brings by allowing him to stand down as chairman and take up a role as a NED where his contacts, strong personality and opinions would be a positive.

[bryet] 21/2/2018 11:04

Just hope those who are buying here are correct I am just holding been here with other companies and got my fingers burnt by keep buying in so just sitting this one out good luck to everyone.

[bigwavedave] 21/2/2018 10:42

FA - must admit, I don't recall ever seeing an RNS from a major holder saying (words to the effect of) "I've finished selling." Do they do that? It would seem like an odd thing to do; I might be finished selling today but change my mind tomorrow or next week.

[foiledagain] 21/2/2018 10:34

Charlie. You are wrong on so many counts in post 7020.

I repeat for the umpteenth time, Amerisur has had some good news, which has had precisely no effect on the share price in months and months, which suggests its nothing to with news, and where my suspicion and that of some others is that there is no motivation to produce good news that leads nowhere with regards the sp, hence the concentration on taking wells offline for maintenance, etc. etc.

Only CPO-5 is reported as good news story at the present, as they have to as ONGC are operator of the field, but that does not even drive the share price ...? Why would it, in the face of persistent iceberg seller.

In that situation would we really want the BoD to go full pelt for good news that drove the share price absolutely nowhere?

The idea that it would speed up purchases of RH's shares has also not proved correct, so the strategy applied by the BoD doesn't seem wrong.

When the iceberg order is done and that could be today, tomorrow or whenever, because we have no idea whether RH is selling all or at what level he will remain, but I do not buy the idea that he is a hard pressed seller, otherwise he would be selling Pantheon too.

The institutions have remained on board with the BoD, with increases in holdings by some, and if it was a governance issue you can bet your boots they would make sure the BoD acted.

What should be noted by ardent investors looking for a bargain, is that at the worst around £10m of shares left are knocking hundreds of millions of pounds off the value of Amerisur? NUTS

[dodge city] 21/2/2018 10:26

MM scum trying to sucker in mug punters while walking the price down.

[tonyrelaxes] 21/2/2018 10:20

4 trading days to go.
Getting nearer, although right now looking an unlikely target.

You never know ....
Needs a push, RH.

[charlieeee] 21/2/2018 10:16

Whilst no one is indispensable, GC is an asset: quality strategic planning to build a company for sale.

In the bigger picture, RH is not helping, but the real problem here is that ONGC Videsh are moving at snail's pace and John Wardle's 2018 "N" sands drilling campaign is non existent, due to his failure in organising the environmental extension in 2017.

The resulting share price crash back to this level is disappointing for LTHs, but all could change on a couple of announcements: ONGC (from the tender dates) are quite advanced with Indico and the Colombians may finally sign off on the environmental (and possibly the Put 8 well to be drilled from another block), not to mention the Ecuadorean wild card.

[chopper harris1] 21/2/2018 10:12

This is surely going nowhere near 11p. At some point soon Clarke and his colleagues are going to have to do something to appease shareholders because this share price action is ridiculous considering current production, cash flow, oil price, debt-free situation, plenty of cash in bank and near-time future prospects.

Whether that action involves a share buy back, or even Clarke dipping into his own pocket for some, they will surely need to do something as Clarke should, as Sharesure4 points out, be casting a nervous eye on his own position. Arrogance and disdain for shareholders breeds unrest.

[fsawatcher] 21/2/2018 10:10

you ask wrong question

simples one goes like this

answer question belows

1. If GC booted out of AMER, will AMER suffer

if nuffin to gain from him, it make sense to get rid

that how it work

amer doin jus fine for all directors innit

they get salary binuses and pensions

they in no rush

they go like this for years and years if you let 'em

[sharesure4] 21/2/2018 09:56

I have not yet been involved in one that made matters worse.

[moneylender] 21/2/2018 09:49

Sharesure, afraid so,coup's dont often work out.

[sharesure4] 21/2/2018 09:41

M/L. I take that as we will just have to manage without your support.

[fsawatcher] 21/2/2018 09:39

like i say a few wekk ago nows

it gonna test 11p coz nuffin to stop it but selling bellin melon man

[fsawatcher] 21/2/2018 09:37

"Sub 16p now... this is getting a little silly!"

It woz silly when it went belows 26p last years

yous gotta realize that it aint silly nows coz peeps knows why it dippin down like mole down a hill

they be load stock out there and there not be many plank willin to walk off it

big buyers jus let rex boyo take it as low as boat with hole innit

they buy when the crustations crawl in coz that right time but salty innit

lifes a beach sometimes clock timin wrongin but yous go long into 2019 and yous be alrigh but fingers gonna be wrinkled innit coz being sub water do that

rexy got about 9 month left of sellin but he a rye old dog so stringin it out like a school boy whos conker cracked long ago

[moneylender] 21/2/2018 09:28

Getting rid of GC will get you absolutely nowhere. Even if you had the fire power to do it, which I very much doubt you do.