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Thanks, LC. If GTE do what they plan and we're still fannying around waiting for ONGC and not getting stuck in at Put-8 then maybe big fish swallows little fish, but my guess would be not for another 12 months...
Also, I read with interest on the Oxy's bid for Anadarko this morning. I wonder if their foreign subs also have the mandate to propose (much!) smaller deals to head office? Perhaps after a bit of Putumayo positivity, they might.... :-)
Just entered into bidding war to buy Anadarko
Good points, Colonel. Could start gently after an AGM approval and see if there is any material impact....
We need an aggressive roll-up-the-sleeves operational/COO type exec director. I mentioned this some posts back and I know lots of you agree from the various thoughtful posts over weeks and months (for which, thank you).
We also need accountability on the cost base. In the 2018 financials, cost of sales is over $77m and admin expenses over $18m: not a scrap of supporting notes to the accounts for either. Disgraceful. Time to retire, Nick Harrison.
...and, separately, for the record, I think a share buyback programme for AMER is to be welcomed...
There have been a few posts suggesting a GTE buyout. I'm heading to reality checkpoint on this.
GTE has gross gearing (D/E) of 39%. Net debt of USD315.7m at the end of 2018 and this has increased each year since 2013.
It has not returned a positive free cashflow since 2013.
The fit is indeed a sensible one, but the only way I can see GTE doing it is to issue equity or go to their banks and increase their capital lines (someone may tell me that they have plenty of headroom - I simply don't know on this).
So, it's an interesting theory, but I don't think the financials hold water for the moment: they don't appear to have the liquidity.
Perhaps if they have a bumper 2019 and AMER doesn't (again), then the opportunity arises....
Happy to be told there is another way to do this; comments most welcome.
Thank you, Colonel.
That's what we all need: a goer!
I’m not generally one to focus on individual trades but I notice a large trade yesterday has only just appeared today at midday but time stamped 16.14 yesterday. 1619949 shares. I would have thought this was beyond the reporting requirement for the trade
Apologies If this has been mentioned before, I missed it.
I've recently added GTE to my watchlist and yesterday they issued an RNS showing that they are part way through a share buyback programme on their Canadian listing.
I don't have the knowledge (or currently the brain power: side effects of meds!) to comment on any significance re. a potential buyout of AMER but at least it shows that they're observant of their SP and the interests of the shareholders. Unlike some I could mention.
Before people focus on oil as the planet's polluter, there is still an awful lot of coal being burned out there.
Take a look at this: Coal fired power stations around the world.
https://www.carbonbrief.org/mapped-worlds-coal-power-plants
Click on Map 'dark' option and change to 'satellite' and then click on the map itself and zoom in to China - wow! that's a lot of coal fired power stations!
And if you drag the year slider to the future - they still have some in construction and some planned !!
Now compare China to what coal fired generation we have in the UK
Maybe the climate change protesters should go glue themselves instead to something in China.
The 'green' people in society are all too often green around the gills. The reality and the rhetoric of the global climate change lobby are quite different. The 'Green' economy worldwide is in the order of 360 billion. Th UN is currently hoping to 'suck' out 100billion from the western economies to kick-start it's green initiatives. This is shortly to be followed up by it's green bonds to raise 76 trillion pounds - over 1 trillion per year to back it's green finance initiative and also to finance it's 'Climate Justice.' Carbon taxes from the west and belt and road type finance from the UN'
It is more clear however that all this is not about the planet, not about the survival of the ecosystem or the people..
It is about $$$ , it is about politics and it is about using green money and regulations to persecute the wrong people and reward the right ones.
The UN migration pact is an integral part of what the UN envisages for the future.
Currently electric vehicles save no one any money nor do they benefit the environment. The environmental footprint of short life time battery technologies is not that good.
Things change and slowly electric vehicles will get better. We are not there yet. People who want to legislate ICE out of existence seem to have a good crystal ball but when it comes to science, the brains of a gnat.
It all about corruption and money. As usual.
Time will only run out when the truth is extinguished.
4 billion people still do not have a regular electricity supply. The cost of upgrading supplies in some third world countries to cope with the extra demand (including the UK) would be vast. Not all of the infrastructure is compatible, range is still an issue not to mention the purchase price. I own 2 EVs, both are charged from PV panels and can speak from experience, the industry has got to go a long way in development before it puts the combustion engine under any pressure.
Simple solution to promote EVs in the UK is to make cities EVs only. Instead they impose so called congestion charges that do nothing for the environment but raise huge funds for the minority to squander.
Not denying petrol and diesel vehicles damage the environment but that is only one part of the solution. It's fine to criticise as we open our well stocked fridges brought in from China and open a bottle of beer brewed in Belgium and think about throwing out the over ripened strawberries we never got round to eating.
O dear, I feel the need to chain myself to a train as I fly my drone over Heathrow. Unbelievable hypocrisy.
Fossil fuels may be unpopular but the inconvenient truth for those that want to keep resources in the ground at all costs are:
1) EV cars require lighter body - more plastic and carbon fibre (oil based)
2) Still no viable at scale storage solution for most popular renewables (intermittent)
3) EV infrastructure from charging to power gen demands not likely to be in place at scale for many, many years
4) Petrol chemical industry will drive future demand for oil, assuming ICE vehicles are indeed replaced over the next 2-3 decades (yes, decades) by EV
5) Battery technology still not close to the efficiency of the ICE engine
..and so the list goes on
Here’s what needs to happen. People need to change a few thinks, like...
- what they eat and how much they eat
- how they travel and how often they travel
- how they wash and how often they wash
- how they heat and insulate their homes
- what they buy and how much they buy
- how many children they have
...and so on and so forth. Just a bit more complex than simply bashing one industry because it makes us all feel better!
Would they try and spud before the AGM, if at all possible?
Check your provider for the details of the agenda
They are out on the Share Centre notifications list of forthcoming meetings
Don't forget to vote
I do not agree that it is fairly valued at the moment.
https://seekingalpha.com/article/4256062-amerisur-resources-respectable-revenue-jump-capital-gain-depends-exploration?dr=1 Pretty positive article.
for AMER to get its act together, Oil maybe up today but the world is changing fast and fossil fuels are becoming very unpopular very quickly, as I previously pointed out they are being less investible. So...get a fecking move on you lot! The movement has been pitiful both in terms of projects and SP, quite disgraceful and they still reward themselves! Its wrong, wrong, wrong and they should be held to account for their disastrous management and current SP value. sack the lot.
sorry to hear this and condolences to his family, friends and colleagues from me. (and puts things in further context again here and generally on all my AIM bets for me)
since i had a post removed (i know!), I assume I feat. in the line up.
having posted the news this morning, there was no disrespect or illwill intended.
but it must have made many others feel better.
I also wish to pay respects.
As such I wont respond to the flame bait below.
My sympathy goes to all Dana's family and friends. I too feel that a few posts are disrespectful to say the least. Some things are more important than sp going up or down pennies and I feel like big bite now that a few posters have let themselves down
Unless you're the operator you don't control the outlook.
Put 8 demonstrates many of the issues, long delayed by Vetra due to the GTE sale, we had a capable new partner who'd have been drilling Miraparriba-1 at this very moment. Is the current plan to retain 100% or farm 50% to Oxy, perhaps Oxy is part of the reason for new seismics and pushing drill plans out to Q4'19 which we all know means 2020. There's been no coms on the economics and they need two drills just to break even as the 100% owner operator, worse is the opportunity cost of CAPEX which could have been used for other drills. Not saying the prospective resources don't justify the acquisition cost but its delayed operational delivery by at least 12 months and is counter to the farm out/risk reduction strategy so from that perspective it seems a negative in the short term.
Bays, you're completely right, AMER has been treading water for the last 3 years due to JW's wheeler dealing and that's got to change, its all about operational delivery and that only happens with new blood.
still flowing between 3.1k and 3.6k
Instructive to see how other oilers are performing on the back of Brent uptick - Hurricane, Premier, Tullow etc....on a day when the Company lost one of the few NEDs who understands the industry and the country a period of reflection by the Board I think would be helpful given the generally dismal performance in recent years. As others have pointed out CP-05 is not our asset, and we have little control over what happens. The inability to manage their communications with their investors is a major issue as is the lack of operational discipline as ably pointed out by Baysilhope. I would add that the PTIP awards t the 2 exec directors leave much to be desired as they are already loaded up and well remunerated and NH who's been granted 200k worth has not purchased a single share with his
own money in the last 12 months, when supposedly the company was on a roll. So much for his commitment. All in all the BoD has a lot to ponder on this dismal day for the Company.