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I wonder what Bays ..will make of this latest news..thoughts appreciated.
ONGC is the likely interested party..imo.
They have the inside track on CPO5 .
Sol..will help them value the block..Gla
That would be amazing, in that case it would be 'Amerisur, all is forgiven!'
Couple of interesting posts over at advfn an twitter: talk of the Chinese i.e. Sinopec/CNPC, valuations of 50-60p and (very) soon the bidders hand being forced etc.
What a day...
My 2 cents worth.
- Delayed ST tests results from Sol make it pretty clear ONGC are in the market for CPO5. Everyone knows what's there, ONGC just need to pony-up the cash or we crack on with the next appraisal at Indico (now that would be nice before any sale is concluded). All's fair in love and war and that... ;o)
- OXY have their eye on the prize that is Put and the OBA evac
- There may even be a left-of-field offer someone who fancies 1m hectares of prime onshore acreage (low prob IMO)
Bottom line, wo we have an unconventional sale situation and one that could pan out very well for AMER if they box clever and manage the process well (they seem adept at deal-making...well, now is their time to shine).
Someone, I think the Colonel, made a finger-licking good point about debt - there is none - just a wad of cash in the bank! A morass of transactional complexity is avoided , which allows the management team to focus on getting the job done. And given the skin they have in the game - reckon they'll be looking for something close to 30p min. Promises to be an interesting next few sessions ahead. MMs will give this the proverbial helter-skelter. But the informed know the true, sum of the parts value here. As do the prospective buyers ;o)
ps Anyone else think we've been massaged down in recent months? Just a tiny amount - cough!
fair play bigsmoke. I remember being a frustrated holder of Asda shares and sold out at a tidy profit when they announced their sp rise was due to the company acquiring a fleet of fishing trawlers. The day after I sold they finally admitted they were in talks with Walmart. If I held for another 12 hours then I would have been mortgage free at 25. Directors were happy enough to buy in the 20s, fundamentals have vastly improved since then so I can see valuation being much more than 20 odd pence. As we wait for news we may have further updates on the CPO-5 block unless ONGC are one of the interested parties.
Whatever the outcome, I'm in profit here but I cannot see the BoD's giving this away on the cheap. No debtors to pay, cash in the bank, profit making. Too many positives to list but certainly worth more than the 300 MC you suggest.
also, i am kind of needing willec style returns from AMER. i have a 'feeling' that any deal will start with a "2" and be two digits.
leas - all accounted for. just mr grumpy pants, for messing about with my plan after holding so much for so long. i blame col. but not if he makes it a hatrick on monday.
bigsmoke, maybe the appointment of a Canadian Bank as their advisor is part of the bidding process. No reason why this company will not attract interest from more than one bidder. Someone may well be selling down but someone is buying. Volume will flush out any positions. As a lth I thought you would have a positive outlook. Any reason why your not?
This is only my second option, personally I would have liked this to continue to grow naturally and 4 or 5 years down the line be over £1, but looks like this will not happen so hope for second best.
i hope you get all your dreams answered, willec.
i'm saving the bubbly for when ink is dry.
Would not be suprised to open 20p or above on Monday morning and who knows how far we will rise 45p - 50p on buy out or even higher?
CD, totally agree. Posted similar this morning. I think it was the catalyst for the last round of director buys. From memory with the exception of the Financial Director they all bought within hours/day of one another. Of course that's only my opinion and not likely to be spoken about but it accounts for the 'radio silence' post Ind-1
Great, I'm looking forward to it.
lol - nice of the management to keep us posted on their exit plans.
For those that have done their homework here over the last months/years and actually understand the assets and strategic worth that AMER is sitting on, there could be some very good opportunity here once all this noise dies down.
There is a lot of commentary flying about and much of it isn't demonstrating itself to be fully aware of what base value should be. I suspect the SP will fluctuate greatly and I will be looking to add when the dips come.
Thankyou for this LuckCounts, so basically put them on ignore
Why? Maybe when we get past 20p - why do you think 18p will be hard to get past?
pennydealer, any reason for this? I just think Friday afternoon people go home early with some profit. If it still increases into the close. I expect big boy st come in on Monday to take this close to 20p come next Friday if not higher.
This will gradually rise to 20-30p over the next couple of sessions especially with some media coverage over the weekend.
Next week could be interesting !
It will be interesting to see all those who have been accumulating recently declaring holdings.
1st up Slater, who only had 12,503,900 (1.03%) at the end of 2018.
I presume that the 1st offer has come from GTE: it would have been difficult whilst Dana was still alive, given the history.
Many of the BOD with experience in excellent exit deals, so we have to trust that they are aiming high and would not have entertained derisory offers.
Michinoko's last 3% and the 2016 placing at 25p and that must set the bottom.
Recent highs of 20p will also rule out any derisory offer.
So much for the theory that this would be a management buyout for peanuts.
Overall very disappointed that this has happened before greater maturity: it feels like selling the Derby winner before the race.
Getting in before the weekend will reap the best rewards here as no doubt weekend financial papers will be reporting on it and those that missed out today for various reasons (some people do have careers believe it or not) will be getting their brokers to pile in Monday morning.
Mid afternoon and falling back a bit, would be interesting to see if we can have a push before the close. Should be a good week next week.
when market closes, see how many large Buys there has been,
GLA LTH great day for LTH to make some money at last