Regulatory Story
Go to market news section View chart   Print
RNS
Amerisur Resources PLC  -  AMER   

Issue of Equity

Released 12:09 06-Oct-2015

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
 
 
IOEFSIFFMFISESS
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Issue of Equity - RNS