Amerisur Resources Share Discussion Threads

[thegreatgeraldo] 27/11/2019 11:17

Yes.....the "bid" being the work programme &/or royalty payment level

[bigwavedave] 27/11/2019 11:16

If so, I stand corrected. But in previous rounds, blocks went to the highest bidder (as long as certain criteria were met).Still, it grates to see Wardle talking about the block as "ours" which, of course, it won't be.

[thegreatgeraldo] 27/11/2019 11:14

Folk will put their spin on it.....one plausible spin to put on it is that AMER valued the partnership with Oxy.....

[charlieeee] 27/11/2019 11:11

TGG

That is precisely my gripe.

If GTE had kept the 50% and operatorship, then PUT 8 would have been drilled, as planned, from the existing pad.

We lost an opportunity to have 2 drills and the block, operatorship and cash which should have been funding those drills is handed over to Geopark for sweet FA.

[thegreatgeraldo] 27/11/2019 11:07

bigwavedave
27 Nov '19 - 11:00 - 25238 of 25240
0 0 0
How much did this new block cost us? A few million US$?

..There is no cost for the block....just management time putting the bid together.....as per the RNS, the award is "bought" with a commitment to shoot seismic & drill wells

[bryet] 27/11/2019 11:04

All the companies involved have got together and done a deal. The board should have walked away but you can bet some sort of deal has been done with them that's the trouble with this market been in it a while don't trust anyone there is always the chance of being shafted needs more regulation imo.No white night no justice for the small share holders time to move on to the next dodgy lot to see if my luck changes.

[rollthedice] 27/11/2019 11:01

I would Eddie, I would :) Clearly it's an opinion and not an unrealistic one given the rest of AMER's undeveloped licences are valued somewhere between zero & nil.

[eddie_yates] 27/11/2019 10:52

Roll
You suspect and you'd say would you?
Well thats that sorted then!!
As far as I'm concerned it can't be valued in before the event

[thegreatgeraldo] 27/11/2019 10:51

AMER held on to operatorship of PUT-8

[rollthedice] 27/11/2019 09:39

I suspect all were involved in the potential-bidders dataroom and would have signed confidentiality agreements. The potential new block would have been disclosed. It's not surprising that operational activity has been shelved during the process either.

Legally I'd say there is no loophole as nothing was certain prior to the award of the block. It's not detrimental to the business nor is it immediately advantageous. The potential exposure to capex is limited if they choose not to develop it and forego the licence. There's no duty on AMER to disclose the potential award of the block to the market before the event.

[tyler durden1] 27/11/2019 09:10

Good point

As the rules dictate that all shareholders should be informed of news at the same time, and in the RNS today it explains its insider information, then presumably the bidders have NOT valued this current acquisition?

On that basis the bid should either be withdrawn on the basis it did not value the full assets of the company or revisited with a higher bid.

Legally I suspect this is just the loophole that could prevent the takeover panel agreeing to the current bid

[eddie_yates] 27/11/2019 09:06

So todays block award is just a free little bonus for Geo it take it!!

[rollthedice] 27/11/2019 08:37

If that's true tyler, and it would certainly seem to be the case since intial bid approach, then there's little chance of a white knight bidder IMHO so 19.21p it is.

[tyler durden1] 27/11/2019 08:19

roll

The fact Occi appear to have done nothing is not hard to fathom out....Same as ONGC not drilling at CPO5 and Amerisur not drilling its fully funded drills..

Looks as though they all had a good idea of what was going to happen and action by some parties to stunt the sp

Something smells

[rollthedice] 27/11/2019 08:07

That's always been AMER's problem though hasn't it? Plenty of acreage but doing little to nothing with it. Even the farm out this time last year was for a program of works between 2019-21 and zilch has been done in the first year. If they'd started drilling perhaps we wouldn't be in the sorry state (low bid territory) we're in now.

Producing assets are worth something, non-producing acreage is, relatively speaking, worth peanuts.

[astorcourt] 27/11/2019 08:04

Its like rubbing salt into the wound

[avsome1968] 27/11/2019 08:01

Unbelievable just keep rubbing it in.
why have we no counter bid if we all think its been sold too cheap?

[mrx001] 27/11/2019 07:40

Haha, more acreage, talk about shafting existing share holders. If the FSA was worth anything they would be on these people. :0(

[astorcourt] 27/11/2019 07:20

John Wardle, CEO of Amerisur Resources said:

"We are pleased to secure acreage that expands our strategic position in the Putumayo Basin, onshore southern Colombia, but sorry we had to give company away on the cheap for 19.2. Options you understand'

[fatgreek] 27/11/2019 07:12

I ask myself how do they afford to buy shares with offshore companies....where does the money come from.....one could suggest some revenue doesn't go the correct way.I am so disappointed for all of us how they've acted after how loyal people have been this is not fair.....I hope you guys win the vote etc and would happily come back here at a later stage.The company is being sold too cheap.....

[fatgreek] 27/11/2019 07:08

Amerisur is a bit short on the new RNS for another block just released....

[dayway123] 27/11/2019 06:56

Just watch Mariposa and Indico wells outputs increase vastly if Amer is sold ONGC will open the taps. CPO-5 area is huge and the drilling campaign in the block will move to a priority. This block alone would be worth thousands of bopd to Amer. I believe in hindsight we will look back with regret, it’s just so sad to think we’re about to be fooled.