Amerisur Resources Share Discussion Threads

[lucyp00p] 13/10/2019 17:15

If the board recommends a bid and the losing party or parties start buying up shares at a premium nobody is going to vote for the deal. This whole process seems to be a bit of a waste of time, just let them fight it out. We're not a privately owned company, everybody gets a vote.

[3roach] 13/10/2019 15:39

Nice post 👍

[charlieeee] 13/10/2019 15:01

All progressing according to the plan set out in the RNS dated 19th July:

Identifying the opportunity: approaches/high M & A in Colombian E & P
Non disclosure process for participating parties (took 3 weeks)
Access to information, culminating in late Sept. presentations
Parties invited to submit proposals
Company reserves right to alter any aspect of the process.

So, now the final stage, revised bidding instructions for a whole company sale and supported by proof of finance.

My assumption is that it will be akin to a sealed bid process, with a closing date and with AMER having set a reserve figure (that "piece of paper" JW has in his back pocket).

The advantage of the sealed bid process is that it forces participants to put their best offer on the table, knowing that it is a one off opportunity at a specific date and in this case, they would have to beat any potential "dark horse" and the "house" (ie JW).

The interesting question has to be whether JW discloses his figure pre the bidding process or at the end to "haggle up" the best bid if it is still not good enough/reach a compromise?

Presumably this is going to be a scheme of arrangement, rather than a contractual takeover offer? In any event, they will have to move on quickly to achieve the proposed Q4 timetable, as there is a lot to be done post bid.

It does look like a done deal, both because of the confidence to move it to a bid for the whole company and the references to the FSP only, with no further mention of the strategic review being ongoing?

Fingers xed for a good outcome, particularly for all those who have held for years and deserve some reward for that loyalty and patience.

[lucyp00p] 13/10/2019 14:43

If she's still singing, we're still winning.

[juuunx2] 13/10/2019 12:34

Hope she finishes before Xmas so we can be done and dusted once and for all.

[lucyp00p] 12/10/2019 22:52

I don't think the fat lady has even started her warm up yet.....https://oilprice.com/Energy/Energy-General/Chevron-And-Occidental-Start-Bidding-War-For-Anadarko.html

[pauliewonder] 12/10/2019 11:52

https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/904652Formal Sale Process to conclude in Q4 2019Share price: 17.6p, Market Cap: £213m Amerisur has provided a short update on the company's formal sales process announced earlier this year. The company has engaged with multiple well-capitalised parties through virtual and physical data rooms, and management presentations in Bogota, Colombia.Amerisur has issued revised bidding instructions to interested parties, inviting firm proposals to acquire the entire issued and to be issued share capital of the company. This includes the bidder being in a position to comply with requirements of the UK Takeover Code relating to Cash Confirmation. The Company is seeking to conclude the formal sales process in Q4 2019.Conclusion: We are not surprised that Amerisur is being courted by a number of interested parties, given the quality of its asset base and considerable potential of the surrounding acreage. Total reserves are currently estimated to be 15MMbo (1P), 22MMbo (2P), and 31MMbo (3P) showing a slight increase to reflect production history that indicates larger oil in place and higher recovery factors. Further drilling activity on CPO-5 is scheduled for this year, commencing with the Indico-2 appraisal well. The 30-day well is planned to increase production and reserves with the potential to extend the Oil Water Contact.

[quidnunc] 11/10/2019 21:01

Sorry Tony,
Cant make this one.
Unless you can squeeze in a brunch on 20th?
All tied up until Nov otherwise.
rns suggests endgame so lots to discuss before xmas if q42019 is serious deadline and not merely immanent
keep me posted on date of ruby
Q.

[tyler durden1] 11/10/2019 19:34

kinwah you post load of old cobblers in my humble op.

Been in for 5-6 years? First registered here May 11 2019 and you only post about Amerisur 10/10/19? Oh plausible...NOT

Averaging down your cfd but if you here 5-6 years you well underwater.

Low was what 12p? You would have to have bought bucketloads to average down but were you buying at 17.50p in auction yesterday ? B/E 18p yeh right.

you no play long game, you's a short term speculator

[notimpressed] 11/10/2019 15:47

moneylender, are you referring to the £ or amer share price?

[lucyp00p] 11/10/2019 15:27

Maybe? No doubt about it.

[moneylender] 11/10/2019 15:24

£1 by Xmas

[thegreatgeraldo] 11/10/2019 15:16

30/11 seems a ridiculous guess...... that's a halfpenny short of �1.55

[kinwah] 11/10/2019 15:07

I see from the Rule 8 disclosure that Hermes (The BT pension Fund) were the buyer yesterday of the 44659 shares in the closing auction. I am convinced that it was a dealing error when they went on the bid at 18.16 rather than 17.16p which was closer to the market price at the time. It would be amusing though if they received an enquiry from the Takeover Panel surveillance department for their clumsy buying ahead of today's announcement.

[kinwah] 11/10/2019 15:06

.Foiledagain, maybe I have misread the feeling among shareholders. I have been a shareholder for about 5 or 6 years and it has been unrelenting misery despite positive announcements. I have bought a lot more recently since the M&P approach and therefore am much more short-term in my outlook. I still think that the largest holders probably do favour an exit now if a reasonable price can be achieved rather than see the price fall back to 12p and holding forever with no near-term prospect of substantial value being released.

[kinwah] 11/10/2019 15:06

N95, IG provide me with Level 2. When I deal it is exactly as if I were a stockbroker dealing on the LSE order book. I don't see a separate CFD platform. The CFD element comes in as regards the cash needed to trade. Although I could easily qualify for professional status, I keep my retail investor protections which means I have very heavy margin requirements. e.g I have to put up 75% margin for additional purchases of AMER on top of my existing 1 million plus shares. But having direct market access and Level 2 means that I can deal at the best prices.

[n95] 11/10/2019 13:42

Kinwah

Do you use ADVFN level 2 when trading cfd's, or a similar LSE data supply? I am assuming you use IG as your trading platform. I am wondering how the LSE order book correlates with a CFD platform order book? Thank you for your insight.

[fatgreek] 11/10/2019 13:05

I'm up for that missed the last one, hope you're well

[tonyrelaxes] 11/10/2019 12:55

I'm in Sardinia this week - not a great vodka drinking people. (Visited our Furtei gold mine yesterday. Interesting. Mostly abandoned but a JCB still operating pne excavation - who for I wonder?)

Can do a Ruby later next week or the week after.

[lucyp00p] 11/10/2019 12:40

Tony's bringing the vodka

[acv74] 11/10/2019 11:29

An event sounds good...hopefully in January.But will it be finest champagne or a half of mild?

[crossing_the_rubicon] 11/10/2019 10:55

Yes, dont tempt fate Lucy.

[lucyp00p] 11/10/2019 10:55

Is it too early to start planning for a farewell to Amerisur party? Perhaps we could invite Rex. ( should I put Lol after that? I'm not really down with the teenyboppers.)