8th Jan 2020 08:18
(Alliance News) - Amerisur Resources PLC said on Wednesday claims of environmental damage in Colombia by local communities are without any merit.
Amerisur made the statement responding to "recent media reports". On Tuesday, Sky News reported a Colombian tribe would be trying to block Amerisur's takeover by GeoPark Ltd amid environmental pollution allegations.
A claim, issued by law firm Leigh Day, on behalf of 15 claimants who are "members of the farming community" in the Putumayo region of Colombia seeks compensation for damage caused by pollution from Amerisur's activities in the region.
As of September, Amerisur was producing around 6,900 barrels of oil per day from fields in Colombia.
The claim is for GBP5,500 per person, therefore GBP82,500 in total.
"The accusations of environmental damage referenced in the application have previously been investigated by the Colombian regulator, and have been found not to have any merit. The company views the substance of the claim to be without merit," said Amerisur.
On top of this, however, the claimants are seeking a freezing order against Amerisur. The company does not expect this to be successful, but said even if it was, it should not disrupt its takeover by GeoPark.
This GBP242 million takeover, at 19.21 pence per share, was agreed in November after Amerisur put itself up for sale. This is expected to complete on Tuesday next week, with shares being cancelled from London's AIM on January 17.
Amerisur shares were 0.1% lower on Wednesday in early trade in London at 19.14p each.
On Tuesday, the company reported an 85% rise in pretax profit for the three months to September, with revenue climbing 8.1%.
By George Collard; [email protected]
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