July 19, 2019 / 9:30 AM / 2 months ago

Amerisur Resources explores sale, gets non-binding proposal

(Reuters) - UK oil and gas company Amerisur Resources Plc (AMER.L) said on Friday it had received a non-binding proposal as well as other indicative offers for some assets as the company reviews strategic options, including a potential sale.

The review comes a month after South America-focused Amerisur partnered with U.S.-based Occidental Petroleum Corp (OXY.N) on four exploration and production blocks in southern Colombia, near the border with Ecuador.

“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 maximize value for shareholders,” Amerisur said in a statement.

The company did not provide further details on the proposal or interested parties.

Amerisur’s board has appointed BMO Capital as its financial adviser with regards to the sale process, the company said.

Reporting by Yadarisa Shabong in Bengaluru; editing by Gopakumar Warrier

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