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Are we ready for 30 p Friday .
I came across the linked recently released video over the weekend - nothing new but presents the case for investing in S American oil asserting variously that it could be become a "Production Powerhouse" the location for "Oil's Next Big Boom".
Meanders from country to country, with Argentina the biggest focus but Colombia gets a good mention.
Principally the CEO of Occidental (at 5minutes +) mentions that they have been their fir 37 years and Colombia provides their highest margin oil production - lets not forget occidental are a very efficient and profitable outfit, to be the best they have is really impressive. James Park of Geo Park also drools over Colombia and S America in general and states wells have an IRR of over 500% (primarily in snippets from 18m 35seconds onward).
I find the possibility that both of these companies have not expressed an interest in bidding for Amerisur assets is ludicrous - Amerisur assets are a perfect acquisition target for both expanding companies.
Also the Bloomberg video suggests other majors are waking up to the potential - so who knows Amerisur assets could present a neat entry vehicle to a buyer none of us have yet considered.
At 500% IRR on wells it is a crying shame out drilling campaign on CPO-5 is all but pathetic as it is needed to retain the option of no deal (best way to get a deal according to JB), no matter whose fault it is, it is a disgrace - we should be reaping very substantial profits by now.
https://www.bloomberg.com/news/videos/2019-09-07/bloomberg-oil-s-next-big-boom-video
bought and sold the same volume at the same price?
to kind of quote bill and ted: strange happenings circle AMER.
nope
have we sold yet
Sounds about right.
Everything that can be said has been said about 27 times over. No one can really second guess the offer price or timing
Such a quiet board for a share with so much potential over next few weeks !
Think this is new. All part of the process and explains why opening up the Putamayo is so slow.
Does at least indicate that we've been doing the seismic! If there are results from some of this will surely be a factor in the sale
Is this something new or was it already known ? (suspension of Putumayo PUT12 exploration)
https://sostenibilidad.semana.com/impacto/articulo/indigenas-le-ganan-pulso-a-amerisur-en-putumayo/46626
https://miputumayo.com.co/2019/09/04/fallo-suspende-exploracion-petrolera-en-resguardo-siona-del-putumayo/
http://www.radiosantafe.com/2019/09/04/suspenden-exploracion-petrolera-en-resguardo-indigena-del-putumayo/
yes as per previous posts I concur that the news should be due by mid sept (my preference)however believe it will be more likely end of sept. However thanks for the link as it reminds me of the last sentence in the rns. Hugely positive that the shareholders will be getting more than the initial offer by some margin and they will be roasted if they do not accept an offer. I believe the bod realise that they have the most opportune time to sell. They will want to go out heads held high also and probably can do without shareholder flack which will no doubt come their way from ii's and pi's should they not get a suitable deal.
Last update was on 9th August...all interested parties have declared interest and signed confidential discloures..so im expecting news by the end of this month
https://www.lse.co.uk/rns/AMER/amerisur-resources-update-on-strategic-review-and-formal-sale-process-6jrvgq6jwiohnt3.html
Was the date the company was effectively put up for sale..... thought we might have had an update by now.... I know due diligence can be a complicated matter but even so.
Anyway, perhaps news next week...
Luz this song - hits the spot James, David Gray Great Song writer - This Years Love Film Theme
This year's SP had better last
Heaven knows it's high time
I've been waiting on my own too long
And when The SP holds me like Amer do
It feels so right oh now
I start to forget how my investment gets torn
When that hurt gets thrown
Feeling like you can't go on
Turning circles and time again
Cut like a knife oh now
If ONGC loves Amer got to know for sure
'Cause it takes something more this time
Than sweet, sweet lies oh now
Before I open up my arms and fall
Losing all control Every dream inside my soul
When the MKt Cap kisses me on that midnight street
Sweeps me off my feet
Singing, "ain't this SP so sweet?"
GLA HNY
Different firms have been showing an interest in amer probably for sometime as it has unique infrastructure and some very good acreage. I expect that we will get a good deal as expect our cash alone is worth 6p on the t/o price. No debt either. Yes evry day gets a little closer to announcement which I expect to be very good as these guys are proven deal makers. Would I want to be out over the weekend . NO. Would I want to be out in the week ? NO. I seriously believe many who believe a low to mid twenty pence offer will be very pleasantly surprised. All imo. :-))
The management's reputation will be in tatters and I predict a hostile bid, which frankly would at least have the merit of forcing these guys to fight for the business
One has to hope that by raising the white flag of surrender over the assets, GC can get a deal that provides a modicum of decency to cover up the team's failings....frankly the sooner this saga is over, the sooner the better.
One would suspect most of it is still in the bank....or it should be.
This was what the Outlook bit relating to drilling in the yr end results in April. Any guesses for how much of the $35m they have actually spent as we head towards the end of Q3 ?
Outlook
ยท Fully-funded work programme of around $35m, with up to ten exploration and development wells planned across CPO-5 and the Putumayo targeting gross prospective resources of 145 MMBO
"odd when they have drill cash gathering dust."
- good point. if they are sitting on cash raised for drills via share issue, then that is atrocious.
correction mags365 - not two rigs, THREE rigs.
In Feb he said that whilst he didn't expect to be a 100k bopd company that we would see a material increase. They are budgeting for 5-6k for this year discounting a large new producing discovery. You could argue it's measured so no great surprises to the downside for the market. What's a medium sized producer.....20-50k? We are somewhat short of this and it appears in the last 6 months there are no great aims to get there, odd when they have drill cash gathering dust. If that's the potential along with the infrastructure benefits of the Oba then surely we are significantly North of this.
What will be the message for the lack of expected drilling, 10 in total for 2019 with 6 in cp05. How can this possibly be explained away without ratting out partners who potentially are stopping progress for there own agenda. JW was pushing for two rigs in Feb......we are a few weeks from Q4! It stinks unless of course it's factored into the offer. If it's to be a 'game changing year' for the Company and shareholders then only a takeover will support this view.
times that by three.
But I would agree that it still adds up to immaterial.
have we sold yet