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I think many PIs would be happy with a part cash/share deal. Many long termers have invested in the idea and the assets. Sure many would like to see this through.

Bigger IIs not really interested in part share as difficult for them to shift. Current deal shows the BoD are not considering the interests of all shareholders - rather their own and Michinoko.

Echo the sentiment - come on M&P! Surely must be willing to increase the initial offer - frankly doesn't take much!

Barclays M&P have disclosed the following positions Long 12,570,733 / 1.03% Short 11,526,440 / 0.95%

Building a covered stake so can vote against current offer but won't lose when share price drops as a consequence??

First one of these from M&P we've seen since the original offer. Includes a short swap. CFD.

No idea, Wonder if going to publish an offer with the cash part less than 19.21p but higher overall including shares????

I do hope this email the precursor to a counter offer

*some *haven't

Really should check what I post!

It's a good point about the fundraise. I find it strange that kind of the IIs have put out a release indicating their position. Would be very easy to arrange an article with a journo indicating that the current offer is too low.

I do wonder how many other IIs were contacted ahead of accepting the bid

Details... Table at bottom of this page

http://www.anh.gov.co/Lists/Noticias/VisorNoticias.aspx?ID=443&ContentTypeId=0x01004E9AFCC31D98412FB626EFBC26D9F668000F6F2EF254C01E419A81FE4A25D81682

26m USD work commitment over 3 years. Way things have been going recently I expect them to knock this off the 315l geopark are paying!!! ;-)

Seriously though, hopefully some bids were pending news of these awards so perhaps we'll see some movement? Ojalá!

Think there's no limit on dates for counter bids. Scheme doc has to be with 28 days and all has to be tied up by Apr 2020.

Think until shareholders agree as per the scheme (or geopark have 50% if scheme fails) it's open for others to come in.

*there! ouch

The Malcy Blogs news on Amerisur has comments on their and only one comment to date. For those interested in raising issues about shareholder dissatisfaction I would suggest this could be one way to raise them.

Not sure if other media avenues that have reported that could be used?

https://www.malcysblog.com/2019/11/oil-price-savannah-amerisur-dgo-and-finally/

could be. As good a speculation as any other. Something has definitely happened to prompt his departure. Some disagreement with BoD or another stakeholder (either the 'major' or institutions have directed it).

Contacts below from the recent RNSs. Would be worthwhile getting in touch with some of them I think. I'm out of the UK so doesn't work for me with time difference and comms. Any takers?

Would be useful to get the message out that there is a) significant dissatisfaction with the current offer; and b) that there is desire to see what other bids were submitted as PIs may be willing to accept part share/cash offers (my view - not sure how representative)

HARGREAVE HALE LIMITED
VICTORIA LIDDLE
01624 690127

Hermes Investment Management Limited
Harman Bholowasia
020 7680 2316

FIL Limited
Kevin Petley
+ 353 1 223 1495

AXA Investment Managers
Sabrina AID
+33 1 44 45 94 75

Etablissements Maurel & Prom S.A
Alain Torre
+33 1 53 83 16 00

Grandeur Peak Global Advisors, LLC
Dustin Brown
801.384.0043

River and Mercantile Asset Management LLP
No name
0207 601 6262

ODDO BHF Asset Management SAS
Sophie SABRI
+33 1 44 51 85 20

Killik & Co LLP
Paul Skevington
02073370763

Michinoko
Jonathan Biddle
+41 32 723 1066

Arden
Norman Gould
020 7614 5935
Samantha Cook
020 7614 5927

Investec Bank plc
Rich White
0207 597 5462
Jacqueline Lovis
0207 597 4815


Stifel (Nomad, Joint Broker and Joint Financial Adviser to Amerisur)
Callum Stewart
Jason Grossman
Ashton Clanfield
Tel: +44 (0)207 710 7600

Don't think share or price will rise significantly until the placement shares are cleared. We're due some good news and a bump up soon though!

When is the AGM? We should expect further information then. The Rns said nothing has changed re Ireland.

Something has changed though otherwise Hugh wouldn't be leaving now. It's very odd timing unless some of the institutions or the prospectiveajor have gotten involved

An approach to the takeover panel sounds like a good idea. Someone on advfn also suggested approaching the Nomad.

I would like to see what other offers came in. Don't need to know the company names but would like to see rejected offers. Otherwise how can we make a decision. I would say 'no' to this current bid but would happily consider other bids for bigger overall package that is part shares.

Looking for reasons why we've had the low bid. Good to bad...

a) other bidders needed time to resolve issues. BoD couldn't wait on conditional bids and therefore accepted lowest acceptable available - fully expecting counter bids.

b) seismic results in Putamayo poor so these blocks not valued as thought.

c) no one interested in Colombia blocks. Lack of demand - hence low price.

d) BoD and advisers are useless and can't negotiate their way out of a paper bag (only getting 13% above initial offer - worse than my grandma could get).

e) BoD want to punish ONGC for their behaviour so leading them on knowing full well will eventually go to another higher bid.

f) BoD / major holders need cash to take advantage of ops with Ironveld (clear conflict of interest/corruption here)

g) BoD horribly corrupt and is inside job with some kickback that is not immediately obvious.

Any others....?

Agree with your view re other cash/share offers however don't see how PIs could get this.

Therefore only approach is to ensure prospective counter bidders recognise PI shareholder dissatisfaction and let it be known whether share/cash alternatives would be welcome.

Other alternative, for those convinced by the value of the assets is of course to invest in Geopark

ML doing a great job tracking intentions to vote and I believe another member contacted the media, but wondered if others had any ideas on actions we could collectively take? I've really no idea on this. Any suggestions? Random initial ideas below

A) Following up with media so we get some coverage re level of dissatisfaction.

B)Using Rns contacts for iis and calling around to get views from them re the sale

C) perhaps a survey of some sort to establish preferred outcome for PIs. Simply voting 'no' not enough for me - do we want new BoD and continue; b) higher cash price; c)cash/share approach.

D) jumping on JW in Bogota to try and get a comment

E) contacting prospective bidders

Anyway, just some thoughts - think most of the above likely non-starters but good to discuss. I'd be happy to take on some workto further our joint aims or to at least develop a voice/consensus.

One issue that has arisen before is why a major would 'give away' a percentage farming in when they could just buy EoG lock stock for a fraction.

Hugh holds a lot of shares and might've been a barrier to this approach?

Going to be interesting to see where we go from here.

Further toy comment below, my reading is that Michinoko have pulled the plug. The bod have taken the offer that best suits the desires of Michinoko and/or their own situation with regard to Ironveld.

I think this is a conflict of interest and they are acting in the interests of themselves and a few other big holders and not the entirety of shareholders. I think most here would be happy with a higher share/cash offer but we are being denied this option.