Amerisur Resources, the oil and gas producer and explorer focused on South America, has announced that, following the receipt of interest in the Company and its assets from other industry participants, and 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.
These options include, but are not limited to, the potential sale of the Company through the commencement of a 'formal sales process' as set out by The City Code on Takeovers and Mergers or the farm-out or sale of one or more of the Company's assets.
The Company confirms that, at the time of this announcement, it has received a non-binding proposal regarding a potential sale of the Company and various other indicative proposals regarding the sale of certain assets of the Company.
The Board has appointed BMO Capital Markets as its financial adviser with regards to the formal sales process and as independent financial adviser for the purposes of Rule 3 of the Code. Stifel Nicolaus Europe has been appointed as joint financial advisor to the Company.
Parties with a possible interest in making a proposal should contact BMO Capital Markets.
Source: Amerisur Resources