Amerisur Resources Share Discussion Threads

[xxnjr] 10/9/2019 23:25

Amerisur's guidance for 2019 was

Plat: 3000 to 4000 bopd.
Plat + CPO5: 5000 to 6000 bopd.

So far, Jan to Jul actual is

Plat: 3664 bopd
Plat + CPO5: 5657 bopd

Slightly above the mid-range of the guidance. No reason to feel cheated (apart from OBA 3rd party & slow pace of drilling).

[sji] 10/9/2019 22:27

OBA 09.09 - 5,111 bopd OH, COME ON! Don't tell me, we're going to hit the best OBA output for a very long time on the day of the interims!!! If you can't read these bunch, then they do well in what they are doing to us all ...

As regards me selling, just give me my 25p or something close and I'll promise that you will NEVER see me close to these bunch of liars (that is, our beloved BOD) again!

[yasrub] 10/9/2019 21:39

I am afraid the recent guidance has not been that high and probably tells the story why the share price is where it is and why there are potential suitors. Those looking might have the same mindset as you and think they can do a better job.

[kaos3] 10/9/2019 21:38

just sell so I will not have to confront the real truth - not the painted one.

number of barrels shipped and sold trajectory over the years tells all there is to know

[sji] 10/9/2019 21:33

Yasrub - I feel cheated because by what was implied at the AGM, by now, our OBA should be running past 6,000 bopd and moving towards the 9,000 bopd target!

[yasrub] 10/9/2019 21:21

Hi Sji I would feel much more cheated if the 4057 included 1/3 party at least it is our oil! I acknowledge the 1/3 party is a mystery currently.

[sji] 10/9/2019 21:03

xxnjr - as can be seen, our management disappoints continuously and that is the real reason why the market punishes our shares so much. Today, most oilers (PMO, ENQ, CNE, TLW) recovered substantially whereas we are down AGAIN!

Since the Plat production for July was 4,057 bopd, I guess that third party oil through OBA was minimal during July, once again .... and on the eve of the AGM in May, they showed us the arrival of the first trucks making us believe that we will be pumping and pumping!

I feel cheated continuously by this board!

[danieldruff2] 10/9/2019 20:49

Cheer up, tomorrow will be the last day of not knowing what is going on. If the company is not full or part sold on results day, I would put the odds of any sale happening below 50%, and expect that will be reflected in price action.

[xxnjr] 10/9/2019 20:36

Jun/July Monthly Production Nos lifted from ANH

June
Plat: 4363
Mar: 3003
Ind: 4633
Sol: 5
======================
AMER W/int: 6655 bopd
======================

July
Plat: 4057
Mar: 3124
Ind: 4593
Sol: 37
======================
AMER W/int: 6383 bopd
======================

So much for SOL.

[lucyp00p] 10/9/2019 20:31

I think they will

[sji] 10/9/2019 18:47

treasure - I think that a dividend at this time would be a very good move to support a higher share price for a final takeover. In my opinion, it would send the share price to 20p immediately and put a floor on the share price for the coming weeks, until dividend is paid. Since the dividend will be paid in a couple of months time, those selling now (including institutions) will think twice since waiting a few weeks will render both a dividend (something many have been waiting for a long time) and probably, a takeover bid.

At the AGM, the BOD got permission to remove the accumulated deficit in the retained earnings account to make it possible to pay dividends. I am not aware whether this move has been done yet. If not mistaken, this procedure includes court authorization.

I also think that cash funds should be available because the planned $35m capital expenditure for the year has not been spent given the lack of new well drilling. What bothers me however is that part of our cash is "restricted" which means that it cannot be freely used - probably cannot be used for dividends. I am not aware that the board has ever announced the amount of the restricted cash. If there is a high proportion, then paying a cash dividend would not be possible.

I wish we get a dividend but given the disappointments our board has given us, I am not keeping up my breath!

[bountyhunter] 10/9/2019 18:29

hardly the time for it when selling the company

[treasure] 10/9/2019 18:20

sji, do you think they will announce a divi ?

[lucyp00p] 10/9/2019 17:13

Most of us are bored reading stuff like this actually

[sji] 10/9/2019 16:58

Next Thursday, I would expect some news on new drilling and production updates. Maybe some of the wells have spud already and they have kept the news to sweeten the interims which are likely to be down from last year. However, I am not expecting any news of firm bids for our assets because if we have received firm offers, I would expect our board to communicate them to the market immediately and not wait for the interims to announce them. Obviously, this is all in my opinion as I am not part of the negotiations!

[kinwah] 10/9/2019 16:46

Despite an upbeat statement on the formal sale process a month ago the shares have drifted. I picked up some more at 17.36p near the close today. At this rate, an offer of 20p cash could win a lot of support. There is undoubted value in the AMER portfolio but while people keep selling into any strength it will be hard for the board to negotiate a good price for us shareholders. It just has to go for the best offer available - most of us are bored and just want to move on.

[bryet] 10/9/2019 16:41

Unlike the government no leaks so far does that mean good or bad?.

[sji] 10/9/2019 15:14

13 Sept 2018 - from AMER's interim report:

QUOTE

Outlook

A range of between 8 to 12 exploration wells and 2 to 6 appraisal wells are planned to be drilled between now and Q3 2019.

UNQUOTE

Actual result:

Exploration wells - just 3! (Indico-1, Calao-1 & Sol)
Appraisal wells - just 1! (Platanillo)

What a bunch of liars!

[moneylender] 10/9/2019 15:09

Sirius, I am so bored with this company now you could well be right and we only expect to drill 10 wells (edited). That's still leaves a lot to do by year end. Perhaps Charleee or FA could confirm how many wells we were hoping to drill in 2019?

£1 by Xmas

[eddie_yates] 10/9/2019 15:03

That would be nice!!

[acv74] 10/9/2019 14:28

I'm guessing our own drilling in the south of the country has stopped but presumably our sale process doesn't stop ONGC cracking on oop north.I except we will get a full update on Thursday, would be nice to think there will be an offer to report that starts with a three or four at least.

[siriusbizness] 10/9/2019 14:23

ML I thought the latest presentation states up to 10 wells to be drilled this year. I still think that’s optimistic. I am hoping for some kind of meaningful update of the sale on Thursday but wouldn’t be surprised to hear nothing on it. Indico 2 should have spudded though so will be very disappointed if not

[kaos3] 10/9/2019 12:35

I am doing research on a big shorter. He was almost always right. But many times he lost money due to:

- changed rules and regulations in times of a distress or changed margin requirements from the banks
- companies sold them self just before shtf and the stock went up and the truth never emerged

[moneylender] 10/9/2019 12:28

Notice to any Amer director that reads this board.

No tweets for 3 months, are we still trying to drill 10 wells by the end of the year? Are we still up for sale? Are we still making a profit? Do we still have shareholders? Do we still have Directors? Because from where I am sat we are doing F all!

£1 by Xmas

Edited to 10 wells

[kaos3] 10/9/2019 11:20

the largest importer is china. one can expect US to drive the prices higher in order to win. and all the big producers would like the higher price too.

POO was weaponized many times before.