Amerisur Resources Share Discussion Threads

[tyler durden1] 24/10/2019 09:47

knackers. Yes because ONGC have been so cute over CPO5 it lends credibility to create the idea that perhaps they have been less than interested in success following the first two successes and after it was announced as being a major discovery. Have to really wonder now about the drills that came after, as the way CPO5 has been held up during this FSB makes you think about those 'failed' drills

[knackers] 24/10/2019 09:44

Have to say the “£1 by Xmas” does make me chuckle ;)

EITHER WAY: There WILL be a fascinating tussle over AMER’s assets in Colombia long before the turkey is in the oven ;)

ONGC have been a bit too cute with CPO5. They (and we) know full well what’s in the NW of the block; between Mariposa and Indico a significant fairway. Now, if they want that remaining 30% they’re are gonna have to stump up for it, or someone else will! Then there is the OBA and the vast yet to be explored acreage in the Put Basin, what a juicy prospect- I believe a series of counter bids for the company as highly likely, as it’s clear as day there will be others, beyond OXY and ONGC, engaged in the process.

[chacobite] 24/10/2019 08:25

Yes £1 by Xmas - fine by me always has been - for some 15 years

[eddie_yates] 23/10/2019 20:58

How would you know if it was a new entrant?

[shakin not stirred] 23/10/2019 18:29

we do not as you rightly suggest this will not happen. So far as I see this the BOD I reckon have a fair impression as to what the bids may be in ball park numbers by now. BOD are looking for a minimum bid which I am sure the bidders may have been made aware of. Therefore down to best bid wins unless counter offer comes in. still not surprised to see new entrant or venture capital firm especially as oba can generate so much money on third party oil alone. I would not necessarily be surprised if the winning bidder catches many by surprise;-). Have always thought that a very big operator will go for these as a first venture or to compliment what they have in Columbia already. Knockout 40p bid. That way win win all the way around especially for the buyers.

[mrx001] 23/10/2019 17:50

£1 by Xmas - what a great fantasy!!! :0)

[moneylender] 23/10/2019 16:28

All a bit beyond me but there are some interesting facts n figures for those qualified on drilling at CPO-5, its their tender docs, from page 62 onwards if your interested.





£1 by Xmas

[fadilz] 22/10/2019 22:17

read my posts :o)

[lucyp00p] 22/10/2019 11:58

I regret to tell you that after this process is successfully concluded, Amerisur as a legal entity will cease to exist. Therefore, there is no counterpart to any contingent arrangement. It will be devastating to discover, after all this waiting around, that ONGC, post takeover, announce a 15km oil fairway, which has been hidden during this process, but we all knew was there yet couldn't price in, but were there to be conditions after the event and our shares have been liquidated, how do we get the money?

[thegreatgeraldo] 22/10/2019 11:50

faditz...... what you're after is a slice of the upside a potential buyer has bought, with a free carry to that upside!!!

[fadilz] 22/10/2019 11:45

Quite. But at best we get a risked value. Is it better to structure a deal with a small downside and a large upside?

[lucyp00p] 22/10/2019 10:34

We will only be sold if the price is right. Any contingencies, allowances for poor ONGC performance or issues pertaining to future developments will be priced in by GC and JW. If the bid fails to meet the reservation, there is no sale.

[fadilz] 22/10/2019 10:00

Agree that AMER would need to persist until the deal completes. But perhaps some formula that defers completion and relates value to the outcome?

This can't be a new situation in exploration - just wondering if anyone has come across something similar elsewhere?

[bigwavedave] 22/10/2019 10:00

charleee/treasure: thanks. I seemed to remember reading about 250k-ish of storage some time ago but wasn't sure.

[thegreatgeraldo] 22/10/2019 09:33

Bonus/additional payments on drilling success only really practical where a particular asset or packafe of assets is being sold ..... unless the company were to be bought entirely & then issue shares in ex-AMER asset future discovery bonus payments !!! Nahh.......

[altom] 22/10/2019 09:30

I think that the property analogy is a fair one, and quite possible.

[davwal] 22/10/2019 09:23

It will be sold as seen, no comebacks.

[al101uk] 22/10/2019 09:15

The sale is for the company as whole, who exactly would be the vendor to be paid in 12 months should drill results go the right way?

[blackdown2] 22/10/2019 09:11

Fad

Re post sale drilling success and clawback provisions, no reason why a deal for any part of the portfolio could not include these, provided the criteria are clear and so the extra payment(s) reasonably easy to calculate.

I imagine bidders will be invited to submit proposals on two basis: one with no future payments and one with overage payments.

These sorts of things occur in some property sales, where the vendor gets a portion of any uplift, say within 20 years of the sale date, if the purchaser obtains planning permission for a different use and this leads to a material uplift in value.

[treasure] 22/10/2019 08:25

Fad, they have at least a months worth of storage they stored the whole of December 2018 production in storage. We already knew that the OBA could do 7000 per day as they done that before. All that's happened is there were 4 days worth of back prod that got put through over around 6 days. Cheers

[charlieeee] 22/10/2019 08:24

They have huge storage: over one year end they were carrying 200/300 thousand barrels in stock (2015/16 year end from recollection).

[the drewster] 22/10/2019 08:09

sorry - wrong thread.

[kaos3] 22/10/2019 07:27

amer is getting binary and boring

[fadilz] 22/10/2019 07:21

bwd - you are right I meant to say lost export through OBA. Point of my post was to show that they have at least 13k storage.

Lucy in this case I almost agree with you :o). But, I like to understand the minutiae, just in case.


A more important question is can/will the final sale price be made contingent on the success or otherwise of the next drills on Put-8, 9, and Indico-2. I hope so. Thoughts?

Edit: in other words is anyone aware of precedents in other sales where such clauses are included? I seem to remember something like it in the acquisition terms for one of the companies Rockhopper bought (Beach?) but can't find it now.

[willec1979] 22/10/2019 00:14

I just wish this deal would be completed. What will we get out of the deal and when?