Amerisur Resources Share Discussion Threads

[treasure] 06/9/2019 17:05

Always found that the neutralisers always seem to post even more the closer you get to news flow. Funny that.

[sji] 06/9/2019 16:57

dayway123 - if posters like you continue to challenge me to come up with facts to explain why AMER's price is where it is, I only have the same to post!

[dayway123] 06/9/2019 16:53

Sji Just stating facts. I think most posters have had enough of your ever repeating flannel.

[staverton] 06/9/2019 16:45

Why don't some of you just sit back as I do and hope for the best.
Be quiet like a dowager's wind

[fadilz] 06/9/2019 16:39

Yawn.

Interims on Thursday.

Indico-2, Miraparriba-1, Coendu-1 ?

[sji] 06/9/2019 16:29

dayway123 + FoiledAgain - typical replies from rampers!

[foiledagain] 06/9/2019 16:22

sj1: Assumptions again. "You shouldn't direct your frustrations caused by Amer's share price underperformance" WRONG.

I just pointed out you are a charlatan.

Too much drivel from you. So you can post to yourself
sji6 Sep '19 - 16:12 - 23450 of 23452 (Filtered)

[dayway123] 06/9/2019 16:19

Sji could have sold his shares at 20p but became gluttonous for more and has never stopped crying since, because the bod are at fault and sadly things just never went his way. However, now he wants 24p and has given the bod a half chance to redeem themselves. Such cheek!!
Sji, as you bought at 15p your still in the money, you should take it and run. And try not to infect the next bb with your drivel.

[sji] 06/9/2019 16:12

FoiledAgain - you shouldn't direct your frustration caused by AMER's share price under-performance against me because it is not my fault. It's the fault of the BOD that you happily defend.

I see that despite calling me a lair, you didn't even try to find a fault in what I reported happened to AMER in the last 12 months - a few successes followed by some disappointing failures. I guess that you agree with my reasoning then that the market rewards success and punishes failures and that is why AMER is where it is!

I see that you took the trouble to go through my previous posts in order to find something on me and what you found shows exactly that I am not lying! In fact, you pasted one of my first posts on AMER which dates exactly ONE YEAR AGO! Exactly what I claim I've been invested here.

Then, you say that if I am here for a year, I would have bought at 14p and I would be in profit. In fact, in another post, I clearly said that I bought at 15p and I AM IN PROFIT right now but still angry with myself for not selling last January @ 20p! I am holding for more, perhaps 25p.

Finally, my quote about REX dumping proves what I said earlier today. In that quote I was replying to someone who said that REX would be out within a few days/weeks whereas I said it would take him till year end, just 3 months more! Reading several posters on this BB, they are STILL claiming that Rex is still dumping and depressing the share price now. What a difference!

FA, I don't care what you (or any other poster for that matter) think of me. I always post what I think. I will NEVER be silenced by a bunch of rampers who cannot stand any reasonable argument unless it is similar to what they think or wish for.

[foiledagain] 06/9/2019 15:27

Liars often overemphasize their truthfulness by adding words or phrases to a statement that are meant to make them sound more convincing. However, the actual effect is usually the opposite. By adding phrases that emphasize they’re telling the truth, the speaker loses credibility and weakens the argument.



Overemphasizing truthfulness includes phrases such as:

“To be honest”
“To tell you the truth”
“Believe me”
“Let me be clear”
“The fact is”

[foiledagain] 06/9/2019 15:05

Oxymoron?

"To tell you the truth"

Why does any poster have to qualify a post with "To tell you the truth"? Presumably anything they post without that is not truthful? Always suspicious of anyone using that term.

SJ1. In my opinion your posts are invention. If you bought a year ago the share price was lower than it is now circa 14p? So you are in profit, yet doth protest too much if that is the case imo.

Your post is also disingenuous "I assumed, hey Rex will have to finish dumping large amounts of shares (as he eventually did)" yet at the time you suggested how many more he had to sell!

sji - 06 Sep 2018 - 10:49:42 - 11826 of 23449 Amerisur - AMER
Not so sure that he will be out very soon since it took him 7 weeks to sell 10.4m shares and he still has 34m to clear! Hopefully, he will be out by end of year.

On the basis of your post above I think your argument and credibility is screwed

[moneylender] 06/9/2019 14:56

I sold my 2p ones @ 20p!
But I am fully loaded again for the minute.

£1 by Xmas.

[sji] 06/9/2019 14:56

al101uk - you ask me:

"So SJI, prove yourself! the crux of any investment is: What is the company and it's assets worth now? Where do you value the company and how do you get there?"

So, here is my reply.

1) Why did I invest in AMER in the first place - I read what the BOD were saying in their reports at the time regarding their assets (a lot of good assets with high prospects), their drilling program (drilling some 12 wells within a year!), current production likely to increase substantially especially if some of the proposed 12 wells find oil etc etc. On the other hand, share price was depressed because Rex was IN THE PROCESS of selling out his remaining shareholding. I assumed, hey Rex will have to finish dumping large amounts of shares (as he eventually did) and then, it's all good news according to management. So, I went in. What happened was we immediately struck a good deal with OXY in November followed by a good find (Indico-1) in December and the share price responded positively rising past 20p in January. Therefore, the argument that REX was depressing the share price immediately vanished because as soon as the market saw positive news, it responded immediately with an increased share price (irrespective of the dumping!). What followed in the next 6 months is not at all good and the market reacted accordingly. We encountered problems + maintenance work at Platanillo and production suffered substantially in the first few months. The next well, Calao-1, was a duster, followed by a semi-duster SOL-1 and a "normal" 700-bopd Platanillo appraisal well. Our production in the first six months of 2019 is LOWER than last year despite the Indico-1 find! So, there goes the BOD's promise of increased production. Now, we are in September and to date, we only had 3 wells drilled! So, there goes BOD's promise of 12 wells with 12 months. These are the disappointments that the market is punishing us about not Rex dumping of his shares. With all this news, the share price drifted back to under 12p and even touching 9+p at one point! The market reacted positively when we had good news and punished us severely when we got bad news. There is nothing hidden here.

2) What do I think our assets are worth and how do I get there? An asset is worth what the market is ready to pay for it. So, it's useless to make assumptions about what our assets are worth unless there is someone out there ready to buy them at that price. Are our assets valuable? DEFINITELY YES! Some of our assets are more valuable to different bidders - for example, CPO-5 to ONGC and OBA to OXY. There may be other bidders with interest close to ours who would value our assets more than others. But how much do I think our assets will get? Before the FSP started, we were languishing at 12p. The announcement of FSP increased our share price immediately by 50% to 18p. So, there is already a very good bid premium. Do, I think it's enough, DEFINITELY NOT. To tell you the truth, I thought that AMER share price would settle around 20-21p until the FSP is over and then, some bidder would bid close to 25p, that is, more than double the price we were before the FSP. Considering that our BOD bought several of our assets during the distressed period at give away prices, 25p would give them a very good return on the assets they bought (and on their shares, especially those obtained for free!). Would 25p justify the value of our shares, I do NOT know and no one knows NOW. We will have to wait and see the results in 2-3 years time. AMER brokers value our assets at 37p. Maybe they are correct but is there anyone out there ready to pay that much? I hope there is! But if you consider our BOD shrewd deal-makers, don't expect our bidders to be stupid!

Time will tell who is right. The worst scenario would be no bid at all since then, we ALL lose!

[eddie_yates] 06/9/2019 14:31

What drilling results!!!

[sharesure4] 06/9/2019 14:24

Why not just await the drilling results, whatever they may be.

[westmoreland lad] 06/9/2019 14:23

Hi Foiled Again -- you are correct. I've still got some from 2.8p.

gl

[quidnunc] 06/9/2019 14:15

I blocked him ages ago. He's talking to an empty room for the most part FWIW I think the chances of a serious bid are vanishing around the corner, a bit like Brexit There is no sign of any other buyer wanting to get involved and despite the original bidder flaunting the size of its war chest about, no sign that they've a clear view on what to buy or where. Q

[al101uk] 06/9/2019 12:34

Funny, I've noticed the same tactic used on other boards. A literate poster asking superficially sensible questions and slowly building a bear case by picking at the responses and discrediting posters without ever making any reasoned argument themselves.

The response to this, if you don't just filter it, is to respond by questioning the posters assumptions, not by trying to continually justify your own point of view.

The last two paragraphs for example make several assumptions, that long term holders consider themselves "expert investors", that long term holders consider their returns and Amerisurs performance acceptable, that long term holders support the board in everything they do. Anyone who's been here any reasonable length of time would know that none of those are likely to be true. None of those preclude those investors from taking a view now, nor do they preclude an investor from having greater knowledge of the company than someone who hasn't been invested for the same length of time.

I'd argue a long term investor who is literate and is able to make a bull case is likely more worth listening to than an obvious bear with nothing to say.

What are SJI's other arguments:

"RH wasn't the only reason for the share price decline"... well done!
"Production hasn't been where it should have been"... genius.
"Management have over promised and under delivered"... wow!

People complained that I repeated known information a while ago when I made some bear points about the company, the three points above and how they affect valuation have been discussed to death.

So SJI, prove yourself! the crux of any investment is: What is the company and it's assets worth now? Where do you value the company and how do you get there?

If you can answer that question, then maybe your contributions are worth something to this discussion, if not you're just another chancer trying to disrupt the board or make a quick buck.

[sji] 06/9/2019 12:34

FoiledAgain - read my post and try to understand it! What I posted is that it cannot be RH's fault that AMER's share price has underperformed so much because AMER's share price has been falling for the last 6 years! Yet, you mentioned RH's selling which cannot have lasted that long! There has to be something else that justifies the underperformance. For me, the buck ALWAYS stops at the top and I blame the BOD, full stop. On the other hand, you seem to justify their performance by saying that it is well known (by who?!) that they are screwed deal-makers. If so, the share price would reflect that!

As regards long-term holders, unless they have traded their shares during all these years, then yes, they have lost money! Just imagine investing your money in 7%pa bonds 14 years ago instead of putting them in AMER?!

[blackdown2] 06/9/2019 12:15

FA

Posters like sji best ignored. They only post to antagonise - sad, but there you are. Clearly don’t have anything better to do.

[foiledagain] 06/9/2019 12:07

Do not post dishonest comments

Where do I suggest RH selling was responsible for last 5-6 years? I don't, so don't post untruthful statements.

That suggests to me you are not to be trusted in any post.

What you seem to assume is that all long term holders are holding at a loss? Ask some of these long term holders what they paid as even at today's price its multiples of what many paid?

[foiledagain] 06/9/2019 12:07

sj

Yet again you first bought in LAST year, yet now you quote 5=6 years ago...

Didn't you check that out before you bought?

You seem very vocal now, yet your post contains information from way before you decided to buy?

[sji] 06/9/2019 10:37

FoiledAgain - keep telling to yourself that RH selling was behind the underperformance of AMER's share price for the last 5-6 years, since shares hit 64p! When there is a big seller in the market (like Rex was), the share price is obviously depressed but only until the market absorbs the share overhang. Telling me it took 6 years and the share price is still depressed despite all the good things our Board did in the meantime is quite astonishing! Why haven't there been other buyers that believe that our assets are so lowly priced? I hope that you don't tell me that Rex is still here? Or wait, now there is FIL and other institutions doing the offloading, right? How stupid of them. Haven't they done their research well like you lot?

What about the company's performance during this period (last 6 years)? What did our Board promise during this period and what did they achieve? Can you tell me about the level of daily production in the last 6 years?

Several long term holders over here, including yourself, think high of themselves because they have been here for a very long time - some of you for over 14 years! This makes you experts in AMER and investing, I guess. Holding an investments for several years with no dividends and share price underperformance is the work of excellent research as you seem to imply that you did!

If you believe that following your intensive and detailed research, you did well to invest in and hold for several years AMER, then, what can I say, well done and keep it up!

[foiledagain] 06/9/2019 10:16

sj1
According to your own post you only bought into Amerisur last year, so to ask me to tell you is a bit of cheek, as that's the sort of research you would be expected to do yourself before buying?

The underperformance for about 2 years was through the market being absolutely flooded with a sale order by RH, but of course if you did your research you would have known that?

How many shares did he have? Of course you researched that before buying?
How many shares at a minimum do we know he offloaded?

These shares where the City KNEW exactly what he was doing, but many shareholders didn't, meant it took down a lot of other holders in the process. Indeed Amerisur did not equit themselves well either, where it took some considerable time before they called upon the company registrar to report on RH's selling, in the absence of his own notifications.

Yet the City know exactly the beneficial holdings, as companies like Argus Vickers and others offer this service as a matter of course for most City firms.

In the period where oil price collapsed the BoD capitalised on it by asset acquisitions very cheaply, but in that period of selling, good news made no difference at all, how could it with such an iceberg of shares to deal with.

The BoD have not helped in some situations though....remuneration being one of them, the pipeline farce being another, and what seems like some to be an apparent baby attitude of trying to hide news but where Amerisur is far from alone, and as far as AIM is concerned is still one of the best holdings.

I'd still prefer a full listing as a preferred option, and if the BoD stopped thinking so much about their own benefits package and more about drilling wells promised the future would be even brighter, but some of the deals they have done have been remarkably good deals.

At one stage Rex had over 134,759,925 shares and we still do not know exactly how many shares he has if any, with announcement when he went under 3% which was still 34,324,722.

100 million shares being disposed of without real notification, where Amerisur could have also updated regularly on his disposals, where it also gave carte blanche for short selling, CFD's and certainly no City would be purchasing with information they had at their disposal and we didn't.

No doubt new holders were buying, but I suspect many more sold forced or otherwise, as stops were hit on the way, and where purchasers not knowing he was still selling bought 'at the bottom' but sold out thinking there were fundamental problems, whereas the problem in the main was a massive unreported iceberg.

what City company would buy Amerisur shares knowing that iceberg existed?

Of course RH was not the only problem, but it did cascade the share price over a prolonged period of time, and when sentiment is hit that bad, and so many shares over such a prolonged period, its not surprising the share price collapsed.

[acv74] 06/9/2019 09:14

It's been a month since our last update on the sale process....another week has passed....think we're due a financial update on the 12th anyway so presumably we'll get a full update then.