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thats the next bit of news imho, the renegotiation of the ISPC. Its a big jigsaw puzzle and I believe that LK and his team are over half way to finishing it. I'm happy to hold for the bigger prize and after chatting with BigMJ, I believe he is too. DYOR though.
Initial Email: Hello Team LK, as a long term shareholder in this business I am keen to understand when the directors of our company will buy in personally rather than receive them as part of their compensation package. I appreciate its an open question that only the director themselves can answer. So, let me put it to Leo / Gordon / Antony / Stewart directly, will you use your own money to buy in when the market allows?Initial Response:As you will be aware, one of the main benefits of the directors receiving 50% of their salary in shares is cash preservation. The other benefit being alignment with shareholders. Cash preservation is still very important for us given the volatility of the capital markets – we need to be able to live within our means. The choice the Directors have is either: (a) to receive 50% of their fees in shares (effectively keeping money in the Company); or (b) paying those 50% fees in cash and then the Director buying shares in the secondary market. The later option means the Company has less cash, the recipient of the money is the seller in the secondary market (not the Company). One benefit of the later option is that it is likely to boost the share price (additional buyers in the market). At present, the Directors prefer option (a) but we still remain open to moving to options (b) and buying shares in the open market. A decision on this is likely to be made in Q2 2020.Second Email: Many thanks for your reply but that wasnt the question I was asking. I agree with the whole 'aligned with shareholders' concept, I wanted to know if they would use their own money to purchase shares on the open market once they are out of a closed period and in addition to their share / salary replacement scheme. LK has already indicated he would / will, I would like to know the thoughts of the other directors individually.Second reply: Further to your question, Mr Stein and Mr Douglas have previously purchased shares outside of the Share Salary Scheme. Whether they do so in the future is at their discretion. Mr Hawkins would expect to purchase shares in the open market once the Company is out of a closed period. So, we are in a closed period and the indications are they will buy. Interesting info, but somewhat overshadowed by the current world events. Batten down the hatches for a while... the world is still spinning, the sun gets up every morning and we have viruses that infect the globe. Nothing too new I'm afraid... the reaction however is.
You are only 'wiped out' if you need to sell. Sit back, enjoy your wine and have patience, the world has been tipped upside down over the past few months and it may be a while before normal service returns. Totally unprecedented position for most if not all of us.
I've just put this question to the Team: Hello Team LK, as a long term shareholder in this business I am keen to understand when the directors of our company will buy in personally rather than receive them as part of their compensation package. I appreciate its an open question that only the director themselves can answer. So, let me put it to Leo / Gordon / Antony / Stewart directly, will you use your own money to buy in when the market allows?
To have endured all the pain thats come with CERP over the past few years only to dip out just before the news we have been waiting for since 2017.... I do hope you've made a mistake for all our sakes. Good luck with your investments elsewhere.
Interesting to see that Touchstone have has some considerable success in T&T, their acreage is adjacent to ours in some places. I'd like to think of this as a good omen, but the lack of news from Columbus is really quite annoying. Currently I'm 50/50 on good / bad... Still we are only just over 1/2 way along the transformational pathway, I'm in for the long run...I dont have too much of a choice. LTH for a very long time!
be interested to hear what BigMJ has to say about this, he seems to have his finger on the pulse of the board.
additional 49,551... thats my lot now.
a very carefully constructed RNS, sadly no huge Chrimbo pressie for us, but at least we know there is oil... just not how much and if its commercially viable. 2020 is going to be our year... maybe thats when we will hit 10p by Christmas.
err that will be SILENCE... not sure what Silience is... grrr
Not sure its good for my blood pressure, but I perversely actually like the total radio silence. No leaks, no rumours, NOTHING. Earlier, I actually complained on twitter directly to Columbus bemoaning the lack of snippets or even some ambiguous photos, I think I was wrong now. The tension is palpable, what it must be like for the people on site god only knows. It reminds me of the early films of oil discoveries... I just hope they've read the information correctly and we actually come up with the goods... only time will tell. DYOR.
thanks Neon... but whats your xmas prediction?
Whilst I would love to see 10p by Christmas, I think thats a little too high even for the SWP and its proximity to etc etc.... Assuming that we actually do hit paydirt with this drill ( I know its a mining term but you know what I mean ) I'd be really happy to see anything above 5p sustained. So, I'm going to take the first slot and suggest a 24th December closing price of £ 0.058 each share... anyone else want to join in. Winner gets a pat on the back.
Well done that's a good return. I'm going to hange on until the end, I dont think we have heard the last of this sale yet and am willing to see it through... after all thats what our board suggested!
Just sent this to the info email address:
Hello,
I imagine you will have a number of emails from disgruntled PI’s who have looked at Amerisur as a company with a good investment opportunity in spite of the markets determination to lower the share price to an unjustifiably low price of £ 0.12.
Its not so long ago that the board offered shares in the business at £ 0.25, yet now even after the excellent OXY deal, increase in bopd, increasing bank balances, zero debt, increased pipeline traffic and the ‘Ocean of Oil’, they have now decided that the company is actually worth almost 30% less.
I am not expecting a reply but, rest assured, I will be using my 1/1200th of the shares in Amerisur I own to vote this deal down. I know a great deal of other PI’s who feel the same and we may just garner enough support to show our board our collective disdain at their support for this deal and scupper this abomination of an offer. To quote our Baird... ‘something is rotten in the state of Denmark’
OK, I didnt need to add the last bit...
Careful Santina, they may just have a different investing strategy to you... it doesn't necessarily make them dumb, despite what you may think.
and my 480,000... most definitely NO. Makes a complete mockery of the Stifel valuation of £ 0.37 & if I were them I would be looking to find a way to re establish my credibility. I was insulted to hear the utter waffle about a 50% increase in value from the 12p prior to the initial offer. We had a fund raising round not so long ago at £ 0.25p... we are increasing our Bopd, estimated to be 6000+ by the end of this year, we had some $45m in the bank at latest count and a funded $100m agreement with OXY...and the board are going to recommend this derisory offer? to quote our Baird...'Something is rotten in the state of Denmark'
the lady isnt singing yet... I've sold a few, but will retain the balance until this is concluded, a bit of a damp squib.
Yeah me... 42k down. But I have faith in the current management....