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Thanks LC.
My thoughts exactly JP2000. I would be scared if it was 5000 BOPD as this would suggest that spare capacity wasn’t required for our own production later in the year.
Why 2000bopd?
No new operation runs at full capacity on day 1.
Current operational capacity c9000bopd, expandable to 50k but lead times (6-12 mth??) even to add 5000.
Assuming 3-4 Put drills over the next 12 mth, only takes one gusher to utilise spare capacity.
The plan looks sensible.
I seem unable to find the RNS in this BB, the company website or my HL app. Can anyone forward a link? Much appreciated.
If the operating cost of transfer is down from $14 to $4 a barrel would have thought we would split the difference - so $5 net to Amer. I see this as an easy win, 2,000 bopd means $3.65m a year easy money. Personally quite like the RNS
Would of liked to have seen details of deal? How much per barrel? $5?
OBA throughput agreed.
Have tendered for production facilities for Mariposa-1, appears to be for the change from long term test to full production, which may also now include artificial lift and a change in production level as the facilities will be able to handle much higher production.
Though ONGC are I guess likely to simply retain current levels, if the approval has been granted it's a positive development. I believe a Mariposa-2 was listed as a possible well.
The.news this weekend of Michinokos voting intentions is tantamount to putting up a for sale sign outside Amerisurs offices.
It's telling ONGC, Occidental, GTE, etc, make an offer!!!
A word of caution...
I also hold shares in NUOG, whose holders voted against a resolution to allow issue of shares without an open offer to SHs, back in January.
Sp there is now 1/3 of what it was then.
There are many ways a company's BOD can take retribution if they feel wronged, but obviously you must vote as you see fit.
Chaps
After reading this thread I've decided to vote against resolutions 2 and 4 as well. I've never voted before. Does anyone know if you have to vote on all resolutions one way or another or if you can pick out certain ones (ie 2 and 4) and just vote on them. My broker is aj bell- their site says you can secure mail them and they will vote for you?
I think it's about time they got a boot up the arse......
all share sites I glance at tend to be frustrated with their BOD - so how could
Amerisur improve their shareholder communications?. I assume JW is up to his
neck in work and cannot send out monthly progress reports - he is presumably the
only person who knows what is going on & is as upset as anyone by the share
performance having bought at 20p - but hopefully his gut information tells him that
all will come good in time - but of course many shareholders have liquidity problems
& need to sell from time to time. But like it or not GC does not give a very dynamic
impression as an oil boss & perhaps the sad death recently will allow some bright
new director to be introduced . But knowledge of the reality of mining in South
America is no doubt in short supply. So lets love JW and hope he will keep us
happier soon.
Someone over on advfn has posted a similar article from The Times in 2016 re the last LTIP. Quite shocking that they'd have the cheek to push this again after apparently getting heat last time. I'll definately be voting against. I also think a change at the top (GC) would be a good thing. They can't keep stating one set of obviously unachievable implementation targets while on the other hand setting LTIP targets that have effectively already been met (or had been in Jan). This greed and crap implementation aside, there's so much potential. Very frustrating!
Yes
I urged shareholders to vote against the Finance Director last year in order to send a massage to GC and JW to up their game - ruffling their feathers is required in order for them to get the message that something has to change. Perhaps if more had done it last year the BoD would have sorted things out
GC is ultimately responsible for all failings "the buck stops here" should mean the chairman, yet he is almost invisible. He should have and still should demand JW improves his operational performance, that is the root of all the problems and all 3 core directors appear to have done nothing to improve it or explain candidly what the problems are - instead claiming success.
GC and JW and NH have too many outside interests when Amerisur is mis-firing the read across is that they are not giving the 100% we deserve, considering the large salaries paid - investors need to give the a bloody nose, everything else has failed and lets face it for Michinoko to break ranks with the BoD you can bet your life they deserve it .
Amerisur should provide great returns for all involved, it's got fantastic potential, yet the BoD are the only stakeholders benefitting
So on Tuesday, I'll contact my broker to vote against resolutions 2 (director's renumeration) and 4 (re-election of GC as a director) - unless posters here explain that this isn't a good idea, and I'll back off. I don't own very many AMER, but that doesn't mean I can't express my opinion.
Any thoughts?
http://www.amerisurresources.com/images/rns-pdfs/Amerisur-Resources-plc-Notice-of-AGM-2019.pdf
hi TigerWelsh. it is good to hear your post. overall AMER BB is a good one. but there is a lack of older LTHs who can bring some perspective.
hope we all make back our losses.
Rarely post on here but read daily. Been in here and Iron and Kazera for a long time (the last time I sold America was for over 60p) and currently well down on all three overall. Have both ISA and SIPP investments. Every time I think there’s light it seems to be a firefly!! 50.000 bpd through the OBA (3rd party revenues) Once OBA is complete SP will react (end/reduction of expensive and dangerous trucking) Paraguay will be the promised land Once FARC calms down Once in a decade weather conditions Once big seller is gone SP will react positively quickly Huge drop in price of oil (didn’t see that coming in the speed it did) SP follows Recovery in oil price SP remains stubbornly low Logic and common sense analysis just doesn’t seem to apply. I think the OBA has been the big low for me as I cannot understand how the BOD could keep communicating 50,000 bpd in good faith when that was never going to be possible. Either incompetence or deceit. However profitable AIM with solid reserves, very positive cash, solid partners, exciting drilling opportunities, successful track record Not really whining it’s just been a very very frustrating ride. I’ve been in long enough to remember the virtual punchbag that was Elena Saratova (on iii chat) roundly vilified for suggesting price could drop as low 32.5p “waiting like a sniper!!”
...and thank you for the heads-up, 50cc...
Hehe! I did mention the AGM might be a bit like an old Eurotunnel meeting. I'll be there, hoping to avoid any flying furniture.
My preference would be to keep Wardle, ditch Clarke and Harrison (especially Harrison - he can't even get the accounts right). Also take a good look at the NEDs. What is Alex Snow's value add for instance?
I'm a bit of a stuck record on this, but we need an aggressive COO who will challenge Wardle and a CFO who is operational, can manage more than double-entry bookkeeping, and can talk with authority to shareholders across the range of issues: that isn't just the opportunities in the field, it is NPV10s and other metrics, execution set out clearly (and deviations from plan) and COST MANAGEMENT. I hate going caps lock, but it hardly ever gets mentioned here and it kills our op profit.
There is no debt
really?? you looking to invest 20k and u ask anon posters for basic data? This filed under " things that are never going to happen"
this was heading for 30p not so long ago. Even Theresa May could run this outfit better
Not sure really what This guy brings into many of his companys 4 the sort of money his paid.time to address the issue.4 me just a figure head.
these scumb@g directors add nothing, just glorified benefits cheats.
I’d be happy to vote against GC and director pay.
The chairman of oil and gas explorer Amerisur Resources faces an investor rebellion amid a prolonged slide in the share price.
Shareholders with almost 14% of Amerisur — including the largest, Michinoko — are set to vote against re-electing Giles Clarke at the annual meeting this month. They are also due to vote against directors’ pay.
Shares have fallen by almost 80% over the past five years, from 60p in May 2014 to 12.75p on Friday.
Clarke, 65, a former chairman of the England and Wales Cricket Board who built Majestic Wine into a chain during the 1980s, is paid $303,000 (£230,000).
He joined as chairman in 2007, alongside chief executive John Wardle and finance director Nick Harrison, both still in place.