Member Info for cautionyourblast

I think there's a fair chance these are going to be broken: if not by 31 Dec then by 30 June. I assume that an RNS would have to come through immediately that this were the case. I understand that the relationship with note holders is good at present. What I don't know is what the likely impact of a breach would be. The note holders get a lovely rate of interest and the assets are obviously operational and cash generative. So do they (the note holders) simply sit tight and wait for steady cash generation and improvement in market conditions? Also, if you were on the BoD, you'd be sounding out the major debt holders now and, if necessary, working quietly on a potential sale of any asset. Any insights welcome.

By the way, before the muppets start that I am trying to push the share price down: (1) I own over 500,000 shares, (2) nothing posted on this board by anyone is likely to have any SP impact, (3) everyone is entitled to an opinion, (4) deramper is not a word.

I thought the most telling thing in this morning's announcement was this sentence: "The implementation of Project 2022 is now under way, targeting US$150 - 200 million free cashflow over the next three years." Of course that excludes any upside from big baubles they may discover.

Finally, surely someone is putting together a plan for a takeover. Would 15p do it? 20p? 12p?

A few people on the bulletin board seem to be in need of a happy ending...
GLA

The most interesting thing from the upcoming update will be comments from Mr Duffy. I am firmly of the view that this is all about debt reduction before 30 June 2020. Therefore, it will be most informative to see what is management's update on progress with capex and opex control and outlook (as well as FCF generation). If there are no (or few) comments in this regard, I would take that as a negative (at a guess).

I'm tempted to add a bit more given (as widely mentioned on this BB) that the SP appears to have done twelve rounds with Marvellous Marvin Hagler.

...but still interesting...
https://www.energy-pedia.com/news/colombia/colombia-takes-back-an-oilfield-from-ovl-sinopec

...separately, check out Gran Tierra’s SP and debt. I’d be v surprised if they were the acquirer.

You’re right Colonel. But an issue is that if they are considered to have significantly overpaid for one asset, then that can curtail risk appetite internally and even acquisition policy regardless of ticket size.

I think you and (Dave Lee) Roth1 both raise valid points, though.

I agree whole-heartedly, Dr Fever. Made a post with similar sentiment earlier this morning.

The apparent hatred for this sector is just a very nice investment opportunity if we PIs do our homework.

My fault for raising it, but thanks again leas and best of British in getting things resolved promptly.

Cheers, BF: I’ll take a look at iWeb. These issues are super-important and its great to get ideas ...and a little solidarity within the serious PI community.

Thank you; most kind!

Thanks for posting, leas. You must have just about the best (lowest) average price for AMER shares of anyone on the board, if it’s any consolation.

I am well into seven figures with my account balance at Interactive Investors (which took over my Alliance Trust Savings brokerage recently). At that level of investments, staying below 80£k at each broker is nigh-on impossible. I suppose I could open another account elsewhere to spread the risk.

I bet loads of people on here have exactly the same issue. First world problems...

...being flogged on the cheap. Eland (ELA) being taken over for bargain price. I hope we get a more lucrative deal here.

These small oilers with great prospects always get gobbled up...

Hope you get your account unlocked soon, leas. I feel for you.

I think they're getting a bargain.

Thank you both; much appreciated. Best of luck.

You posted exactly my thoughts, ragnar. I’m tempted to buy more, but unnerved as the current fall seems to be wholly without any news to back it up.
Is there anything I’m missing? Perhaps a big II is just getting out day by day.
I’d appreciate any insights, thanks.

Loan note holders not loan more holders.
Blimmin heck

The consolidated net debt for covenant measurement purposes was $595m as at 30 June. Might be a bit better now, some three months later.

It’s all about the covenants and relationship between management and major loan more holders...

https://www.miningmx.com/news/diamonds/36785-petra-wins-covenant-relaxation-from-lenders-in-vote-for-cash-flow-positive-ambition/

...the current price, I still wish we could operate and further develop the portfolio for a much bigger profit.
Just my wishes rather than a possibility now, sadly.