Amerisur has issued 106 mm shares for net proceeds of US$35 mm. This implies an equity issue price of approximately £0.23 per share. The proceeds will be directed toward an increased 2016e capital program. We have reduced our 2016e production and cash flow estimates, based on Company guidance disclosed in the proposed placing document. The Company has provided a warning that 2015 year-end reserves will decrease, due to the decrease in the crude oil price and cumulative production of app
10 Mar 2016
Issues Equity and Provides Warning on Reserves; Outlook Reduced
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Issues Equity and Provides Warning on Reserves; Outlook Reduced
Amerisur has issued 106 mm shares for net proceeds of US$35 mm. This implies an equity issue price of approximately £0.23 per share. The proceeds will be directed toward an increased 2016e capital program. We have reduced our 2016e production and cash flow estimates, based on Company guidance disclosed in the proposed placing document. The Company has provided a warning that 2015 year-end reserves will decrease, due to the decrease in the crude oil price and cumulative production of app