Amerisur Resources Share Discussion Threads

[moneylender] 11/10/2019 10:40

£1 by Xmas

Someone mention me?

!

[foiledagain] 11/10/2019 10:26

Kinwah

Strange idea.

How do you know that a large proportion of shareholder base would be happy with the best price currently available now to exit a poor investment?

Also for some its not been a poor investment?

Some here I understand own shares from 2-4p.

Other long term investors bought because of the long term potential, so an idea that a large proportion etc., doesn't in my opinion hold true.

Even the institutions and major shareholders holding have not done so just to sell out cheap?

Oft mentioned pound by Christmas (tic), but given a good set of drilling Amerisur could easily be worth that and more. If not, why would Oxy buy in to the acreage at all, and ONGC know what's in CPO-5.

Hope its all done and dusted on my return

[wskill] 11/10/2019 10:03

What's a few more months waiting we have been informed that the takeover price will be higher than today's.
Reading between the lines anyway will not be selling until the board recommends a takeover.

[lucyp00p] 11/10/2019 09:52

I wish I could buy your house. It sounds like you would be happy just to get shot of it for a handful of beans.

[kinwah] 11/10/2019 09:33

Lofty, you are technically correct. I should have included 'probably' or similar words with my comments however reading between the lines the board has changed the focus of the strategic review to inviting ready-to-go offers for the company. Without this sale process the AMER share price might be down as low as 12p. The board's encouragement to take no action is strongly suggestive that the best offer will be recommended and that it will be more than the current share price. No guarantees Lofty but as good as you will get at this stage under the Takeover Code.

[yasrub] 11/10/2019 09:31

I've said it before the institutions will have a good say in this circa. 40% the key is what price would be acceptable to them.

[underhill2] 11/10/2019 09:21

Its not working Im afraid !

[kinwah] 11/10/2019 09:18

'All shareholders' interests' is an interesting concept. A large proportion of the shareholder base will probably be happy with the best price currently available now to exit a poor investment. My expectation is for a cash bid in the range of 18p to 24p. By continually averaging down my cfd position I would break even at 18p so anything more is a bonus.

[acv74] 11/10/2019 09:11

Keep taking the Prozac underhill

[fatgreek] 11/10/2019 09:06

Shareholders are encouraged to take no further action with regard to their shares.Tells me all I need to know.

[fatgreek] 11/10/2019 09:04

For AMER not to be drilling oxy and ongc are the bidder imo Why would you increase the value of what you want to buyI do think though for oxy to pay so much for one plot the value we sell for will be a lot higher than the current sp

[loftyman147] 11/10/2019 09:01

I don't think this is accurate:"What it means is that the end of the process will be a formal offer with a board recommendation"There is absolute no guarantee that all the offers will meet the boards valuation and therefore, acting in the interest of shareholders, they cannot recommend it.Happy to be corrected.

[sharesure4] 11/10/2019 08:59

There should be a drilling result at some time in this quarter. I would have thought both Amerisur and potential purchasers would wish to know what that result is before establishing an acceptable a sale price.i still think that the timing of this sale has more to do with the Board�s personal circumstances as opposed to what might be in all shareholders� interests. The eventual price achieved will shed more light on that. Hope we get to vote on it?!

[foiledagain] 11/10/2019 08:52

With all the criticisms of Giles, in this particular scenario he is the guy to have dealing with it.

Its a game of poker now and likely collusion regarding post bid deals as Lucy mentions as a possible, but more likely a probable but ONGC know they can't delay too much longer on CP05 drilling without pressure on them.

Same can't be said of Oxy as Amerisur are operator.

Giles knows every trick in the book in particular part of the game and although I believe he was pressured into the situation by Mich, it would opportunity for him to cash in his chips for retirement.

JW though? Not so sure in this one he is our man, as oil man through and through is unlikely to hang up his work and sit back and enjoy retirement.

Yes he will want rewards for all of his shares, but suspect he will walk away with a future service contract or directorship in one of the contenders.

Splitting assets post sale might not be such a problem and Giles would know that possibility and that 2 or 3 prime bidders could be pushed to pay a lot more even if only one bids.

[kinwah] 11/10/2019 08:30

Good news! The board are committed to selling the company not an asset sale. The interesting feature though in today's announcement is the focus on the cash confirmation rules of the Takeover Code. These state that the financial advisor to the bidder must provide confirmation that the cash needed for the cash element of the bid is available. This could be a loan facility or cash on deposit but it cannot be a promise or intention to raise the cash with a placing. Effectively, AMER are disqualifying chancers and timewasters who do not currently have the money lined up. What it means is that the end of the process will be a formal offer with a board recommendation. Potentially another bidder could come in later with a competing all-share offer which the board felt it couldn't recommend. But the important thing is that AMER seem confident of delivering a mainly cash offer worth more than the current share price.

[eddie_yates] 11/10/2019 08:27

As acv74 says
To be so bullish about sale terms implies confidence

[lucyp00p] 11/10/2019 08:24

Theres no news here. Obviously bidders are well funded - or they wouldn't be interested. Q4 was always the cut off, and the 2 old duffers at the top of this company would rather a clean break than a partial sale. I guess the repeated "advice" that we all should hang around until the end is encouraging, but it's hardly a signal to pile in.

[blackdown2] 11/10/2019 08:23

About what?

[meneither2] 11/10/2019 08:18

There is no offer as yet, still plenty of time for investors to try and find out some detail before piling in.

[underhill2] 11/10/2019 08:17

I agree. Not so confident now of an offer in the 30,s. Also there is no guarantee of an offer taking place. All the potential bidders have had long enough to table an opening offer. Any bidder who really wants Amerisur would have got the ball rolling by now. At least we will know one way or another by Xmas where this is going. Amerisur may discount all offers received and carry on as an independant company which which for some would be the prefered option and create the most value. All will be revealed in due course. The muted Market reaction so far suggests caution

[kaos3] 11/10/2019 08:11

main take away - no partial sale - great

[yasrub] 11/10/2019 08:09

I am hopeful of a deal that will make most of us happy. They have again highlighted multiple parties and well funded. My preference is for a complete sale and by inference it will be cash. I acknowledge a complete sale might preclude ONGC but such a process I guess would have been time consuming and messy. In some ways if some collude afterwards so be it.

I think the timescale is realistic.

[eddie_yates] 11/10/2019 08:07

I take it you are not impressed!!!

[notimpressed] 11/10/2019 08:06

bit of subdued reaction on share price and volume

[acv74] 11/10/2019 08:02

To be so bullish about sale terms implies confidence.