Amerisur Resources PLC Issue of Equity (3925B)
October 06 2015 - 7:09AM
UK Regulatory
TIDMAMER
RNS Number : 3925B
Amerisur Resources PLC
06 October 2015
06 October 2015
Amerisur Resources Plc
Issue of Equity
Amerisur Resources Plc ("Amerisur" or the "Company"), the oil
and gas producer and explorer focused on South America, announces
that, with regards to the consideration that is being paid in three
instalments in relation to Amerisur's acquisition of Petro Dorado
South America SA, Amerisur has elected to issue stock for the
second instalment and an application has been made to the London
Stock Exchange for 4,140,279 new ordinary shares of the Company
("Shares") to be admitted to trading on AIM. The Shares will rank
pari passu with the Company's existing issued ordinary shares and
dealings are expected to commence at 8:00 a.m. on 8 October
2015.
Following the issue of the Shares, the issued ordinary share
capital of the Company will comprise a total 1,072,928,015 shares.
No ordinary shares are held in treasury.
Ends
ENQUIRIES:
Billy Clegg/Georgia Mann Tel: +44 (0)203 757 4980
Camarco
Jeremy Low/Daniel Conti Tel: +44 (0)207 653 4000
RBC Capital Markets
Chris Sim Tel: +44 (0)207 597 4000
Investec
Note to editors
On 29th June 2015, Amerisur announced the acquisition of Petro
Dorado South America SA (PDSA), a subsidiary of Petro Dorado Energy
Ltd (PDEL). The acquisition settlement terms were through the
payment to PDEL of a total of US$6MM in three instalments, US$3MM
upon closing, and two further instalments of US$1.5 MM at
three-monthly intervals, in cash or in Amerisur stock and the
provision of a 2.5% net royalty to PDEL on production arising from
the assets acquired. This royalty is post any overriding government
royalties and payment by Amerisur of 50% of PDSA net costs
(estimated at US$2MM net) for the ongoing 405km2 3D seismic
programme in Block CPO-5. Amerisur will reimburse PDEL for the
remaining 50% of those seismic costs from a further 2.5% royalty
until those costs have been recovered.
Amerisur acquired a 30% (non-operated) working interest in the
CPO-5 contract, located in the Llanos basin. ONGC Videsh Ltd holds
a 70% working interest and is the Operator, where the Loto-2 well
is currently being drilled and a 49.5% (non-operated) working
interest in the Tacacho contract, located in the Caguan-Putumayo
basin. Pacific Stratus Energy holds 50.5% and is the Operator.
PDSA carries tax losses of approximately US$57MM, representing a
potential tax benefit to the Company of up to approximately
US$20MM.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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