Member Info for Wolster

rossannan

Never lets a post go unless it bangs the same drum.

Its almost Bot like.

Neway ill stop posting against the Bot it only gives it more credance, & last thing im here to do is garbage post all day about garbage posts from ross. doss. dross etc....

Just do your homework new folk & take this guy with a pinch of salt.

rossannan

De-ramper scum, just surfaced from the pond last week, now he posts against every other poster who has been on these boards for years/months.

In case new people are interested.

I wont as I can use the same reply to dribble from now on.

rossannan

Belt up T***.

At least you went for it. I went with 49p based on my below posts (+ColonelDrakes's)

As per ColonelDrake:-

Rough Calcs

1. CPO-5 to ONGC for premption rights so goes for industry base of $10pb to $12pb per barrel and $1 or $2pb for p50 resources or portion of 2P. Estimated value circa $250m (conservative)
2. Plat based on 4000bopd and 15mmboe $175m
3. OBA - Strategic worth $75m to $100m
4. PUT blocks 50% - $100m to $150m now OXY involved.(replace with $217m per my post below)
5. Cash in bank of $60m approx (based on reduced capex for 2019)

Total $650m to $750m (i get $800m)
Equates to £520m to £600m(therefore £640m)
Based on roughly 1.3bln shares in issue (assumes all management options exercised)
Value 40p to 46p (im at 49p & comes with the bonus of telling my boss to go feck himself)

I also posted :-

Dont forget 30% CPO-5 is held in a separate subsidiary company & is therefore already packaged nicely to be sold separate from the remaining Amerisur assets.

Regarding the Oxy valuation.

The 50% we currently retain has control rights (so should be worth more than the bit we sold+we didnt take the highest bidder back then (now we would)) therefore :-

Our 50% should read $93m + $19m = $112m+(5%Control est) + (5%highest bid est) = $124m

+The Credit for the bit we sold $93m + $19m = $112m less cash recieved $19m = $93m Oxy Credit.

Therefore the total is more likely $124m + $93m = $217m (less any 50% of any OXY spends incurred (no idea if they done much yet)).

That total includes nothing but the OXY involved land.

rossannan

You need to think about the directors view of these assets.

The only reason I dont see a higher SP right now, is the fact that if such crud offers are all thats made the company sale wont go through & SP crashes.

However I believe this is the real deal & it'll get done, hence my staying power till the end.

In addition I have been anti (most) of our directors, but the one thing they are good at is buying & selling companies - im confident.

Ok we valued this deal on totally different basis point.

I went asset value.
You went multiple of *******s value.

Now I broke down my asset value (which you have not made a single coment on)

Whilst I commented on why I thought the 12p was not a relevant start point.

I was trying to not respond to you further, but well done you won that morale point, now f### o## unless you want to talk about the asset build up case at all.

rossanan

I put effort in my last response to you & got repaid in the same old tripe.

End of conversation.

rossannan

"LuckCounts

If you disagree with someone, try deploying some counter arguments rather than just calling them names."

Here is the problem I have with your posts rossanan, whilst I supported my price of 49p with a list of assets to get to it.

U just trot out 12p double again & again. Despite virtually everyone saying 12p was a massarged joke. At least counter the reasonable arguments to your own valuation methods, rather than appearing not to listen & develope an evolving position.

I have as little clue as you to the final outcome, but my 49p had support (but im sure it'll get discounted in any deal) & my valuation technic based on assets may also be wrong, but I will evolve my expectations as thing develope.

I fully expect you to be spouting multiple of 12p (a fatally flawed 12p at that) arguments again & again, really whats the point of conversing with someone not willing to listen to the opposing view at all.

I just dont get why no one values the credit of $93m on the 50% sale, its not like we had $93m cash paid for it & that its somehow included in our bank.

We still have an unused $93m debit awaiting to go into our next financial statements of free seismics, please at least add that to calculations.

Rossannan

Hope you sell at 25p & then s## off back to the black hole of none posting on Amer that you came from.

As for the rest of us enjoy a day (one of many) in the Sun.

What makes me laugh is people telling me im the deluded one (49p) when at least I + ColonelDrake supported our SP estimates vs some go**** who trots out banter objections.

Hey we may not be right, but we have at least put substance behind our valuations.

Also its just as ludicrous to base the Selling Price on any multilpe of 12p (a share valuation based on II's selling for years on the back of a weak mangement team dishing out free shares for the boys & the odd duster - which was undoubtedly shorted to death) just garbage.

Thankfully any offer would imo have to drill down into each asset & build a market value from that point up, such an offer would not include managemnt weaknesses or market manipulation, or distressed II's (as they will want returns for all the pains suffered)

I through your delusions right back at you.

As per ColonelDrake:-

Rough Calcs

1. CPO-5 to ONGC for premption rights so goes for industry base of $10pb to $12pb per barrel and $1 or $2pb for p50 resources or portion of 2P. Estimated value circa $250m (conservative)
2. Plat based on 4000bopd and 15mmboe $175m
3. OBA - Strategic worth $75m to $100m
4. PUT blocks 50% - $100m to $150m now OXY involved.(replace with $217m per my post below)
5. Cash in bank of $60m approx (based on reduced capex for 2019)

Total $650m to $750m (i get $800m)
Equates to £520m to £600m(therefore £640m)
Based on roughly 1.3bln shares in issue (assumes all management options exercised)
Value 40p to 46p (im at 49p & comes with the bonus of telling my boss to go feck himself)

I did 50% sell, bought BCN grew that 30%.

Bought back in here at 14p ish & are growing.

Ive lost nowt mate.

I stand by all my reasons for sale, & by my dislike for the BOD, & agree the assets at Amer are fantastic (hence as soon as I heard the news got back in fast).

So whatever big fella.

No need mate. You should take no credit for anything.

We all were hoping/holding for this without your constant dribble.

Just the timing out of all our control - some gained some lost.

But I bet all who know the asset value here are damn well back in now & holding for the deal.

Well that was a hectic hour.

Got back in at just under 14p, bloody hell dont need this stress :)

None.

Think just abit of trading trying to drive down price & buy back in lower, after all no current impetuous to breach 50p without news & last time the game worked a treat. However this time the rise to this point was more gradual & stable - no point to sell when chinese sign off is so close.

In fact a top up opportunity.

I feel one of the most positive points, is the quarterly reporting going forward. No management team would push for that if the results weren't expected to improve.

Secondly ive been looking for the turn point in the business. Whilst not everything is sorted its a damn good indicator of the turn.

No chance i'd invest in the business prior to this RNS, now seems a good time for a tentative postion.

Dont mind saying well done holders, no chance I wouldve given the lack of info & history.

RNS looked great for the future & Im in @ 8.42p & feel good about it.

If you go back a little further, you will find I was very positive about this share.

However I do feel duped & my opinion has dropped along with my stock value.

I therefore seek to find the cause of my losses, time & again that buck appears to rest with the directors, rather than the assets (which lured me into this loss trap).

Mostly I have tried to stay away from the boards as my now (negative) attitude would be unwelcome(& frankly doesn't help squat all), & I best go back into the dark for awhile whilst awaiting our business transformational year.