Amerisur Resources shares rally after indicating potential sale
Abraham Darwyne
Company News - 2 min read
10:32, 19th July 2019

Amerisur Resources (AMER) FOLLOW, the AIM listed Colombian oil and gas operator said on Friday that it had “received a non-binding proposal regarding a potential sale of the Company”.

It told investors that it also received indicative proposals over the sale of certain assets owned by Amerisur.

The company appointed BMO Capital as independent financial adviser, and Stifel Nicolaus Europe Limited as joint financial advisor.

Amerisur said: “In light of the high level of recent activity in the Colombian E&P sector, it has decided to conduct a formal review of the various strategic options available to the Company to maximise value for shareholders.”

Shares in Amerisur rallied over 37% to 16.6p following the announcement.

Some of the strategic options outlined by the company included a potential takeover, merger, farm-out, or sale of certain assets.

The company has acreage in the Colombian Putumayo basin close to the border of Ecuador, partnered with U.S.-based Occidental Petroleum Corp.

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