Amerisur Resources Share Discussion Threads

[juuunx2] 05/8/2019 16:36

Coiled spring?

[tyler durden1] 05/8/2019 16:26

do hope that this bid is not just a prelude to a cheap MBO

[sji] 05/8/2019 16:19

OBA output for last 4 days (1-4 Aug) - 1,708; 1,676; 1,410; 1,815 bopd

The Columbia govt's royalties seem never ending now right?!(sic)

[charlieeee] 05/8/2019 14:47

Perhaps you have forgotten the "N" sand drill?

Had it been successful, the capacity would have been required last year.

As far as your question on the length of the T/O process,as Lucy has said, none of us know.

Tomorrow, the knock out bid could land in an RNS (unless you happen to be one of those happy insiders, who seem to always get advance notice and snaffle a few million shares at a discount). Equally, we could be looking at multiple stages in the offer, particularly on the piecemeal approach.

It is worth following the pound: that offers a serious discount on the cost of acquiring AMER and may have prompted M & P's opening bid.

GLA

[kaos3] 05/8/2019 14:29

why UPGRADING it last year for still 4,5ooo bopd i asked - not building the original capacity. to give you helping hand - to service the 3rd party. and OBA is shipping ?? ours and theirs combined now.

to help you understand my second Q - what happens with operational control if there is a change of ownership. it is time after the original contract was signed (after the TO) and under industry practice (thank you) the license owner kept the operational part. I did not ask about the original deal industry practice.

I know JW is well off just by me being an EEN investor.

I like your asylum argument used for answering my Qs. thank you for your profound deepness.

and yes - I have idle time to spend today lol

[kaos3] 05/8/2019 14:06

agreed my friend. I was silent for two weeks ;)
just put some thoughts down - main being -
1- leading time before the first offer was done and the actions taken in between
2- legal possible minefield that I asked about (industry practice)impacting the unwanted buyer
3- where is the TO fahrplan put down so I can follow it in a transparent way?

[tyler durden1] 05/8/2019 13:05

Grandeur Peak Global do not appear to be registered on the FCA register?

[kaos3] 05/8/2019 13:00

charlieee - what would be standard industry pactice

it makes sense to me to include the change of ownership clause - different experts coming onboard, different data sharing, .... ?

if there is nothing to it I would be very surprised
just thoughts - not AMER specific - but could be used in current situation as well

Tyler - yes and yes and yes - too much happening (OXY deal, OXY resell, OXY OBA connection, second OBA, no info on the latest CPO5 drill, shares walked down to12p). What is the lead time of such a decision - 6 or 12 months ago such a decision was made and all the deeds later were done with knowing it.

just think of gathering the cash for a TO.

17p offer was just to put psychological share price frame low enough imho knowing very well it will be rejected.

who knows how one could repel other competitive bidders by small print in the operational contracts etc unknown to the general public

is there a data room etc ? lol
is there a transparent selling procedure that we (and potential bidders) know of?

[foiledagain] 05/8/2019 12:58

Seems some organisations are feasting on Amerisur shares

[bigwavedave] 05/8/2019 12:48

Lancasterbomber- "Why aren't more people buying since there seems to be a good possibility of doubling our money?"

That's what we all said when it was only 12p just last month!

[tyler durden1] 05/8/2019 12:46

Charlie

This all reeks of Michinoko being involved or possibly the catalyst.

First RH softens the share price over months and months then announcement pre AGM that Mich were not supporting BoD then Ironvekd followed by Amerisur up for sale.

Michinoko have not disclosed selling any but why would they if they have pledged support to bidder.

It’s Worthy of investigation and to verify that no person or organisation has acted in concert to drive price down before pathetic bid.

Any private equity bid could from anonymous owners. Too bloody grey

[charlieeee] 05/8/2019 12:29

Given that the objective has been to sell the company, AMER will not have agreed to any poison pill.

Indeed, AMER did not have to, as there were competing bids for the farm in. AMER did not take the highest and that may well have been because OXY were least concerned about that aspect(they have deep pockets and can simply blow the likes of GTE out of the water, if the problem occurs).

You should read nothing further into the $93.25 farm in than it was intended to get a good look before buying and there is no better way of getting a look than 3D seismic and the drill bit.

Put simply, we may not like the BOD, but no-one would acuse them of being stupid and it would have been extremely stupid to have any poison pill/ROFR in the contract. OXY might, however, have the right to match the final best offer, but even that is unlikely.

[yasrub] 05/8/2019 12:27

Hi LB to my mind the key to the potential sale is that there is a competitive process. Whilst it is difficult to actually get most PIs to agree on AMER's valuation I think most would acknowledge that a number of companies operating in the area will be interested and the possibility of P/E. That hopefully in time will eventually get all the players to show their hand - well that's what I am hoping!

[xxnjr] 05/8/2019 12:18

LB it's only a bargain if M&P raise their offer, or other parties throw their hats into the ring. Most around here, self included, hope this will happen. But that doesn't mean it will happen 100% COS!

[xxnjr] 05/8/2019 12:14

Kaos3 correct on the OBA,

....."The companies have agreed there will be a dedicated transport capacity in the OBA for the transport of oil from the Farm-out Blocks, with a commercial tariff charged for Occidental Andina's share."

[lancasterbomber] 05/8/2019 12:06

There's something I don't understand. If this is such a bargain and I think it is having brought in at 18.2. Why aren't more people buying since there seems to be a good possibility of doubling our money?

[xxnjr] 05/8/2019 11:56

It was odd that OXY acquiesced to Amerisur retaining operator status. One can only assume OXY knew that arrangement wouldn't be permanent..... but what would be the catalyst?
(my assumption may be wrong of course!)

[kaos3] 05/8/2019 11:52

helou - so many smart contributors could answer such a trivial but imo important Q which is an industry standard practice I assume

[kaos3] 05/8/2019 11:31

a Q: -
OXY partnership, AMER operator - I would think it has an ownership change clause?

OXY could suddenly found me operating their JV - if I bough AMER. I do not think so (on both counts lol).

is there a poison pill?

industrial experience, good practice ... needed to make my fog clear ...

[lucyp00p] 05/8/2019 10:23

Not sure all the parties involved in Amerisur's cash plus stock trades in the past have had any reason to celebrate.