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Started: pickedpeck, 4 Jun 2020 12:49
Last post: pickedpeck, 4 Jun 2020 12:49
Looks like we got out of this just in time pre-covid oil price collapse. Geopark price bombed from around $22 at the transaction for AMER to under $6, and has only recovered to $9s now.
This was my last oil field investment, ended up doing ok and grateful to be out. So long and farewell to all the AMER investors, hopefully money now tucked somewhere good.
Started: Simmo05, 17 Jan 2020 15:17
Last post: Ade57, 30 Jan 2020 16:42
Checked this morning , Geopark is a New York exchange and my broker charges £75 a trade plus management charges, not for me sadly.
Received also :-) this saga has come to an end. Good luck all and thank you.
Yep cash in my Halifax account this morning.
Anyone having a flutter on Geopark?
Yes cash arrived in my acc today.
I thought i was later as i did not accept anything but looks like we all got paid out same day in any case.
Halifax £0 :-(
Started: Parker21212, 27 Jan 2020 09:32
Last post: Parker21212, 27 Jan 2020 09:32
Cash in my account.
Although no loss, most disappointing experience ever, in over 50 years of investing and working in financial markets. But in the end, I can only look at myself for ignoring the red flags, and having too much confidence in others.
Many thanks to all the great posters here, and over on ADVFN. Will miss you
Parker
Started: Ade57, 17 Jan 2020 11:15
Last post: Simmo05, 17 Jan 2020 14:50
I am just back from holiday and have seen the many treads on this, being a complete amateur can anyone tell me what I should be doing & what's happening/going to happen?
My share price was 19.12 in my portfolio but now shows as 9.54? But when I look at trading it says 19.12?
Well made money but I would have liked to continue the ride. On to pastures new. Good luck all and goodbye.
Started: Mathurin, 17 Jan 2020 11:54
Last post: Mathurin, 17 Jan 2020 11:54
I guess we all dreamt of that mythical ocean of oil - who knows. One thing to avoid is the future of Geopark and would hate to see their exploiting all the riches of Amerisur which for unknown reasons Amer didn’t have the drive to exploit . Of course Colombia still faces social challenges- South America is a mess -
But I personally was seduced by JW but the moment he grew that beard I had doubts ! Since my first investment two years ago it has been a rough ride and without the French bid we would no doubt be stuck in the mire of 12p.
Bonne Chance to all !
I guess it’s the curtains finally.Best of luck for all
Started: chrismar, 7 Jan 2020 13:28
Last post: leas, 16 Jan 2020 20:18
Wardle and Clarke...
Well RIP AMER. Company now in the hands of GEO. 19.21p per share payable in 2 weeks. Warden and Clarke have resigned.
Wouldn’t surprise me if some advisory role vacancies will surface within a year. No doubt that formed part of the takeover deal.
The ‘gravy train’ rolls on. Good luck to all LTHs and their future investments.
leas, thanks and appreciated.
Taverham. I expect the next RNS will be telling shareholders that the transfer of the shares has been completed and GEO now own the entire company and assets. AMER no longer exists. Transfer of monies for those shares will probably be made in the next couple of weeks.
From the RNS 14th Jan
The boards of Amerisur and GeoPark are pleased to announce that the Court has today sanctioned the scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme") by which the recommended cash acquisition pursuant to which GeoPark Colombia, a wholly owned subsidiary of GeoPark, will acquire the entire issued and to be issued ordinary share capital of Amerisur (the "Transaction") is being implemented. The Scheme will become Effective on the Effective Date, which is stated in the Court Order as 16 January 2020 and is when the Court Order is expected to be delivered to the Registrar of Companies. A further announcement will be made when the Scheme becomes Effective.
The Scheme Record Time for the Scheme will be 6.00 p.m. on 15 January 2020 and all Scheme Shares in issue at that time will be subject to the Scheme.
Next steps
It is expected that dealings in Amerisur Shares on AIM will be suspended with effect from 7.30 a.m. on 16 January 2020 and, subject to the Scheme becoming effective later that day, the admission to trading of Amerisur Shares on AIM will be cancelled with effect from 7.00 a.m. on 17 January 2020. It is also expected that the consideration payable to Scheme Shareholders will be paid by GeoPark Colombia within 14 days of the Scheme becoming Effective.
Suspended - why?
Started: DaddyBigBucks, 7 Jan 2020 20:41
Last post: Tantalum, 8 Jan 2020 16:41
Yes good luck DBB - had OHS 7 years ago, rough at first but miles better since.
Best of luck, brother: don't pull any stunts!
:-)
@cautionyourblast, Thankyou for your kind words, I was invested here a while ago but sold when we had the offer. The article just popped up on my news feed.
...and also, DBB, the very best of luck for your heart operation next week. I can tell from your posts on BMN that you are a top-notch person, so please get well soon!
Thank you for sharing this.
Started: GreggsStottie, 7 Jan 2020 21:30
Last post: Baxi44, 8 Jan 2020 14:53
I offloaded a substantial (for me) holding in Amer, just before Christmas.
As a LTH from the Chaco days, it would be an understatement to say I was dismayed by the dismal performance of , and ultimate betrayal by, the BoD.
Although not normally a vindictive bloke, I REALLY hope that this action stuffs GC and JW in the most comprehensive way - I'm thinking where the cat got the thermometer!
HNY to all fellow sufferers and my grateful thanks to those fine minds and wise heads that have informed and enlightened me over the years. I wish you all well.
...Columbian tribe hold last ditch legal effort to stop the purchase by GeoPark.
God knows what this means!
I have completely sold out but do hope all long standing shareholders are not shafted again.
Good luck all.
Started: cautionyourblast, 7 Jan 2020 20:31
Last post: cautionyourblast, 7 Jan 2020 20:31
I am surprised at today's announcement that "GeoPark today announced that it intends to offer senior notes (the "Notes") in a private placement to qualified institutional buyers" and that "GeoPark intends to use the net proceeds of the Notes offering to finance the cash consideration payable by GeoPark Colombia to Scheme Shareholders".
I may be wrong, but is it that Geopark's funding for the transaction has yet to be secured?
I am sure the M&A buffs who may still be on this board can set me straight.
Thanks
Started: GuitarProctor, 24 Dec 2019 11:23
Last post: GuitarProctor, 30 Dec 2019 22:23
I'm not qualified to recommend anything - a total amateur!
I picked up some Metro a couple of weeks ago - will see how that turns out in the New Year, hoping it goes the way Virgin did.
I also bought Tullow purely on the fact it tanked. Up a tad but learning that sour oil isn't sweet.
I've got EUA on my watch list and congratulate those that have done well out of that. Looks like the bird has flown now.
Frustrated that Henry Boot and John Wood Group have both Boris bounced before I could get in there. Looking for dip there.
GLA and HNY.
I miss the poster who promised a Pound by Christmas!
Been in and out of EUA myself, having first invested sub 1p. Time for playing the dips is now getting risky with news of the flanks 15M oz getting very close. Cant see 3p again but if we do then some more Amer money is going in there!
Thats where I am sitting atm EUA.
Done very well & tbh I think its got potential for further uplift based on -
Flanks acquistion -(which takes it fro 2m oz to 15m oz Palladium+ other metals)
Possible sale of MT asset - (& resulting special divy)
All directors heavily invested & in line with Share holders - (Unlike Amer / selfish scum)
Good luck to all the rest of you guys on here in the new year.
Yes. Eurasia . Well I am hoping the ups and downs haven't stopped yet. Hope it drops once more at least so I can get back in. Hope this doesn't run away without me has it may have legs. nice to see you have confidence .
Do you mean Eurasia?! If so, why on earth did you cash out?! That will get to 4.2p and sit around those levels. Who knows what the future holds but certainly short term not going anywhere
Started: Mathurin, 29 Dec 2019 18:11
Last post: Baxi44, 29 Dec 2019 20:36
Your comment reinforces the proposition that neither Clarke nor Wardle should EVER be trusted with the stewardship of a listed company again.
In the unlikely event that there is a City blacklist, they should feature prominently, and permanently on it.
I have always taken risks and paid dearly and have virtually never put my faith into a stock which took a steady course up from day one . Before investing in Amer I had placed half my funds into the French oil major Total which took on 30% before selling a year ago to buy extra Amer which I had first noticed via Sharehub extolling the likelihood of a future buyout - and paying 20p two years ago .
I only invested in Amer after seeing an interview with JW who seemed to personify sincerity and honesty - in total contrast to the besuited GC with his plummy elocution . Why was I not advised of the short seller lurking in the wings - this must have been common knowledge.
I guess my only lesson learnt from the Amer experience is that we can never foresee events in any share we buy - right now my Amer funds are happily placed with three companies whose shares are down by 50% in the past year.
Started: IsaTrader85, 24 Dec 2019 13:47
Last post: Ade57, 27 Dec 2019 11:28
Well I put mine in ESU last Friday and cashed in today for 33%. profit. That took 2 years with Amerisur. Do your own research. I will re-buy if price drops below 3p target or I wish the 2.7p I bought in at last week. Good luck.
Here's hoping he gets whats coming to him with this fire sale.
Disgusting pond life human being.
Last post: Seance, 22 Dec 2019 16:59
My sentiments exactly, I will take the cheque with a very heavy heart!
Best of luck, Mathurin. I will remember how reasonable and sensible you were when a number of posters were very abusive to you in respect of your estimate of take out price. Ultimately (sadly!), you were proven to be correct. I doubt the abusers apologised, but I remember who they are and will be steering clear of them, but not you, in future. Hope you clean up financially in 2020!
Mathurin,
I concur with your sentiments; but I think you are seriously economical with your adjectives describing Clark. I would add fundamentally untrustworthy, self serving and ultimately proven to be totally unsuited to future corporate office.
All the best for the future to fellow Amerisur victims.
Has been awful and it is nice to build up some connections with posters. But Why you would thank someone however who was SO wrong about AMER ?!
The farewell messages on the ADVN site show the distant comradeship built up over many years of trials and tribulations following the destiny of Amer. Hope springs eternal and over the past two years Amer has mainly been a bitter pill with few reasons to rejoice due in part to the arrogant leadership of GC who has never shown an iota of concern for the retail shareholders and no doubt his clash with the 10% shareholder created much of our misery . My own thanks go to Basilhope and Colonel Drake for their brilliant and helpful comments - I wonder which shares they will next illuminate ?
Last post: carter19, 21 Dec 2019 17:29
Is that right that the buyout price will be 19.20 pence.
Started: DavidFDO, 20 Dec 2019 14:03
Last post: DavidFDO, 20 Dec 2019 14:03
According to the latest RNS, published at 1.00pm today, “It is anticipated that the aggregate 9,000,000 Ordinary Shares will be issued and allotted after the Court Sanction of the scheme of arrangement…”. I do not understand why these shares are not being issued and allotted immediately. The Exercise period for these options ends on 23 Dec 19 (Page 55 of the 31 Dec 18 Annual Accounts). The Exercise period does not end on 14 Jan 20 (the date of the Court Hearing to sanction the scheme). Would you have expected such a delay in the normal course of events? Surely any delay in the issue and allotment of these shares would be a financial benefit to the directors concerned, enabling them to delay the payment of £1,233,000 for these shares? What is the legal position?
Started: adamsmithfreethi, 20 Dec 2019 13:12
Last post: adamsmithfreethi, 20 Dec 2019 13:12
Started: Moneylender, 19 Dec 2019 22:03
Last post: cautionyourblast, 19 Dec 2019 22:17
Thank you so much, Moneylender, for your efforts. I voted 3.6m shares against and got pals to vote another 2.4m or so...but it was not to be. It seems many sold before the vote.
Good luck with the remainder of the works on the house! I hope our paths may cross again and I shall look out for you as you clearly are v intelligent and, importantly, have integrity.
Just posted on advfn:
Evening all, just got in and read the news, very disappointing result. Thanks to all that voted no but when your fighting your own board and major investors we don't stand much chance. Like many long termers here I will miss the banter but we have to move on.
Regards my house refurbishment well we are in, it's not complete but it's liveable for a few days until after Xmas, then another couple of weeks hard work.
Once again thanks to all, I am on Twitter if anyone is lonely!
Started: Baxi44, 19 Dec 2019 12:26
Last post: gettingpoorer, 19 Dec 2019 20:38
FCA are a joke imho , they are only any use chasing utilities.
The sad truth is no one body is able nor willing to regulate the AIM market by the looks of it , so these guys get away with whatever they like.
I held a stock a few years back that went bust due to the board falsifying the accounts. That was that , nobody was prosecuted , we just lost our money , end of story. Luckily only 1k for me but that's not the point.
It really is a cesspit as described by many , but the returns can sometimes be mighty if you're quick out.
I doubt it will survive as a credible market.
I have been a holder since the Chaco days and have a significant (for me) holding in Amersur.
I cannot subscribe to the view that the Bod have acted in the best interests of the shareholders - quite the contrary!
Forgive my naivity (there are far wiser and more experienced heads on this board than mine), but I also cannot believe that, having apparently either consistently misled shareholders, for a number of years, as to the value of the company's assets/prospects, they can blithely now claim that the valuation of 19.21p per share is fair - and disappear into the sunset, uncensured and scot-free, with their pockets bulging from the generous options they awarded themselves.
Consequently, my view is that this deal is highly suspect.
Posters on another board have recommended PIs to report their concerns to the FCA, which I have followed (text available if required - feel free to message me) or even funding a class action against the board (highly unlikely).
My questions, therefore, are this:
1. Are the FCA totally uninterested in policing the AIM - have they no interest in protecting small investors, or do they really function as a robust regulator?
2. If enough concerns are raised by disgruntled PIs, would the FCA investigate and, if necessary, potentailly unpick the deal (as has been suggested elsewhere)?
3. Or are we just content to be meekly accept our fate and shuffle off like lambs to the slaughter?
In closing, my sincere thanks to the wise heads that have freely shared their knowledge and experience.
Last post: Stockable, 19 Dec 2019 19:20
After immediately getting back into the stock on news of the company's imminent sale, this has been a very profitable exercise but not as profitable as I expected. A final takeover offer of at least 25p was the figure that I anticipated. Frankly, in my view, the business is being sold on the cheap. If there is one lesson to be learned, I would suggest that the model of back-ending shareholder rewards in the resource sector is deeply flawed. Typically, managers will take their rewards in cash and on an on-going basis. Plus, of course, money can also be extracted in other ways. As for their holdings, these are often the result of favourable option packages. However, shareholders are largely dependent on a payout (Unknown) at a point in the future (Unknown). It leaves a great deal to luck and trust in the management. And something that some private shareholders do not seem to take on board concerns liquidity. Institutional shareholders may take a low-ball offer because it's the only way they can exit the position. Their targets may be far lower than those of small shareholders.
At the moment, CAML is my preferred choice in the resource sector. More broadly, I am getting increasingly wary of resource stocks that cannot or will not pay a dividend.
Started: pickedpeck, 19 Dec 2019 18:12
Last post: cautionyourblast, 19 Dec 2019 18:15
Thanks, PP: you’ve given me some names to research.
For me, it’s SLP, VOF, BGS. I’m in PDL (small position) too!
The real blame here lies with Michinoko , they are the ones with the real power. I don't have a lot of sympathy for the BoD, but ultimately Michinoko as the major share holder must have had an absolutely massive influence on this deal. If they decided they wanted out at any price, which seems likely, then this was at best a fire sale.
I'm gone too. HZM, RAI, PAF, PDL ... no oilers any more. The heart of the market just isn't in it.
Started: adamsmithfreethi, 19 Dec 2019 17:56
Last post: adamsmithfreethi, 19 Dec 2019 17:56
Yes I would add my comments to those posters some of which I met today who added genuine insight into the forum and thanks to their willingness to share and trade views and facts made investing in this dog a much more pleasurable experience than it ever deserved to be.
The Board and the FM should hang their heads in shame but of course by now those same heads are probably half way down a champagne bucket.
I look forward to seeing those outstanding unfettered options being cashed in during the next 2 working days since by a curious coincidence a large number of them are due for expiry by 23/12 at strike prices of 11-15p.
The lord provides in mysterious ways and since we are on that subject Happy Xmas to all!!
Started: jointhedots, 19 Dec 2019 16:12
Last post: cautionyourblast, 19 Dec 2019 16:30
...and to you, JTD. I’ve enjoyed your posts and insight very much. I hope our paths cross again.
Probably my last post on hear - so all the best to all in your future investments and endeavours and a happy festive season.
No good crying over spilt milk now
Started: cautionyourblast, 19 Dec 2019 15:32
Last post: Slapheads, 19 Dec 2019 15:43
not a lot of opposition then from the looks of it.
I hope the Clarke and Wardle rot in hell for what they've done here.....
Carried.
19.21p: ...good grief.
I made a decent profit, but its still a lesson for me on being wary of AIM and AIM management teams....
Started: StockBoy, 19 Dec 2019 14:14
Last post: StockBoy, 19 Dec 2019 14:14
Attended the Court Meeting and GM and agree withSuperdad.