Amerisur Resources Share Discussion Threads

[johnsoho] 09/1/2017 07:33

Another update, and at first glance it appears to be a good one!

Amerisur Resources Plc ("Amerisur" or the "Company")

Platanillo-24 Update

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce an update on the drilling of well Platanillo-24 in Colombia. Platanillo 24 has been drilled under time and under budget, to a total depth (TD) of 8,485ft measured depth (MD), achieving an offset of 1,275 ft to the east of Platform 3N.

This well was designed as an infill well on the most northern developed lobe of the Platanillo field, located between wells Platanillo 7 and 17. The reservoir section was logged and initial log analysis indicated the presence of 67.5ft gross, 38ft net oil column in the U sand formation. The analysis of T sand indicates a 14ft gross and 8ft net oil column. The N sand was not well developed at this location, in line with the Company's seismic attributes model. The well is currently being completed for commercial production from the U sand and it is expected to produce into the Pad 3N facilities.

Subject to resolution of local social protests, the Company plans to mobilise the Serinco Rig D-10 to Pad 2N, in order to drill Platanillo 22, the first appraisal well from Pad 2N, the furthest north Pad on the Platanillo block.



John Wardle, Chief Executive Officer of Amerisur, commented:

"Platanillo 24 is a good result, the second of our planned infill wells. The well was drilled to TD in just over 15 days at a cost of under US$2M. I look forward to successfully initiating production from the U sand."

In accordance with the AIM Rules - Note for Mining and Oil & Gas Companies - June 2009, the technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 31 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

[valentine] 08/1/2017 20:39

Ecuadorian presidential elections a month away. Lots of overloaded fans in play.

[valentine] 07/1/2017 19:46

Brains ain't all that bad. You need moneylender to choose a good post AGM pub. Directors buy rounds the night before but disappear very quickly out the back door next day, when all done. Bring yer own croissants etc

[valentine] 07/1/2017 18:24

He'll want to conclude by 1130 latest to get to city house in Cardiff to lodge results. Don't mention any tactics here. Just implement them. Good luck. Mixing with the Hoi polloi and those dressed in motley is not to his taste. Great experience tho, not.

[francis55] 07/1/2017 11:15

Perhaps disruption of said AGM is whats required. It's been years since i was student president i still remember a few tricks around demonstrations.

[foiledagain] 06/1/2017 18:25

No they are not misplaced. Although it seems it was down to Petroamazonas as far licenses are concerned including tribal lands, there is a duty of care on Amerisur to know what the terms are and in reporting through RNS. So if there needed to be upgrades to the pumping system Amerisur should have sorted it out prior, and should have notified shareholders in my opinion.

The company has signed an agreement with PETROAMAZONAS EP entitled 'Convenio de Cooperacion para el Uso de la Red de Oleoductos del Distrito Amazonico' which permits the construction and operation of the 10 in. pipeline from the Ecuadorian border to the point of connection with the RODA gathering system for the transport of Amerisur's crude oil. In addition the agreement includes the definition of construction and responsibilities during use of the system, a minimum volume commitment and transport tariffs applicable to Amerisur crude oil.

[lucyp00p] 06/1/2017 17:55

If the quote in 46723 is correct - and I'm sure it is, are the criticisms of Amer regarding the bottleneck restricting the OBA flow rate on the Ecuador side misplaced? I was always a little fuzzy on the degree of access to infrastructure over the border, and it looks like we weren't given any.

[valentine] 06/1/2017 17:36

The people who've been appointed to protect them at very savvy, no doubt. They've been there for almost as long as the oil has been in the ground. They never needed it. We do, but that is their problem. They'll get screwed one way or tother in pursuit of profit and civilisation. Money does not appear to be their objective. Maybe a life for their family and children better than has been experienced of late? It can be organised. I sense it may be?

Ps
Did you see news tonight about supermarket and shop looting in Mexico over rise in petrol prices, allegedly. It is their land and they have plenty in production still they get no benefit. North Sea oil was going to make us all millionaires..Oh yeah?

[foiledagain] 06/1/2017 17:27

For all the furore these tribes are also very savvy at playing situations too. With the trees for example was everyone asleep while the pipeline was being constructed, with allegedly so many vital religious trees being felled. They either worship very very rarely and thought it rude to complain at the outset, or perhaps its more to do with a gravy train than a tree.

[valentine] 06/1/2017 17:21

Agree FA. It seems a new problem, for us anyway. It has been their problem for much of last century. I hope it can be resolved amicably. In terms of progress and guaranteeing western civilisation, life, liberty and the pursuit of happiness, they're doomed. Both sides of border. The sionas and ziobains are one and same people and their land is cross border. See Google.earth.

[foiledagain] 06/1/2017 17:16

Agree Mr Valentine ... but it should be remembered their beef is not with Amerisur, it is with their own government and their national company. All licensing for the work was down to petroamazona as Amerisur were not allowed to undertake the work or even arrange their own contractors. If you look at all the decrees they were to Petroamazonas.

To try to pass the buck on to Amerisur looks to be impossible in this situation.

Even the decree for operation was to Petroamazonas

"ARCH has issued the decree to Petroamazonas EP for the operation of the OBA system"

"In June, Amerisur signed an agreement with Ecuador’s state-owned oil company, Petroamazonas, which operates the local Cuyabeño gathering system and the Amazonas pipeline network (RODA), FOR CONSTRUCTION AND USE of the pipeline from the Ecuadorian border to the point of connection with RODA"

Any costs should be borne by Petroamazonas and the BoD should make sure that happens rather than spending too much time working out their personal rate of return

[big7ime] 06/1/2017 16:25

Not sure if it's that holding us back, better day today but my ENQ are storming
Amer have a lot of catching up to do
But I am confident it will come Big this yr.

[valentine] 06/1/2017 16:00

Very interesting article android2.
Put a capital in http next time.

Amerisur have to totally assure the ziobains/sionas people they will protect their 'sacred' territory. Have they now succeeded in convincing the pueblo ziobains of this? They govt/public relations co failed last time they tried. What is it with bringing a stone age people to Bogota for meetings? Meet them on home ground. Make the effort to protect their culture and environment and then, perhaps, we can progress. As crazy horse said 'when the buffalo are gone, and grass is gone, do we eat your money?'
Sensitive stuff.

[trotting12] 06/1/2017 15:39

Those blue lights are flashing

[bigwavedave] 06/1/2017 15:10

FoiledAgain - I see. Would make sense.

[lucyp00p] 06/1/2017 14:24

Bubbling away nicely

[foiledagain] 06/1/2017 14:22

Bigwavedave

46073

[meneither2] 06/1/2017 14:15

Bit too soon for a well result I reckon

[trotting12] 06/1/2017 14:03

Quite lot of buys !! News in the offing ??

[valentine] 06/1/2017 12:35

Be nice to see a Friday Wooster for once... Been a while..A good while.

[bigwavedave] 06/1/2017 11:44

FoiledAgain: re 5 Jan '17 - 15:50 - 46700

Any more info?