Amerisur Resources Share Discussion Threads

[royfd] 09/1/2017 21:53

From todays RNS "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"

Both plat 7 and 17 went into production at over 1000BOPD so if data gained has been accurately analysed you would think that Plat 24 would also give an output in excess of a 1000BOPD. There are also striking similarities between the Plats 7 & 24 drills i.e.

Plat 7

TD 8533ft
Offset 1181ft east of PAD 3N
78ft gross oil column U sands
46ft net

Plat 24

TD 8485ft
Offset 1275ft east of PAD 3N
65ft gross oil column U sands
38ft net

Plat 7 went into production @ 1300BOPD

[valentine] 09/1/2017 17:54

100 plus FARC guerrillas surrender in our area. South of Puerto Asis. Not that is positive.

[valentine] 09/1/2017 16:06

Maybe they've woken up trotts? They certainly had no idea about mineral rights pre-conquistadores and millennia before. Now their land is protected by the UN and they have serious legal representatives. Time Colombia and Ecuador gave them something other than the 'flu delivered by Apache helicopter.

[trotting12] 09/1/2017 15:54

The locals walk round in shorts and tshirts,on normal day ,, grass skirts and feathers when the Tv cameras are about ,, the truth is they've got their hands out waiting to have their palms crossed with silver !!

[cutlery] 09/1/2017 14:17

Amer stated in the Interims Rns of 15th September that The Serinco D-10 rig is currently being moved to Pad 2N to drill Platanillo-22 well. This well is a step out well to the north of established production.
Then the next drilling Rns in December stated - pleased to announce that it has commenced drilling operations on well Platanillo 24 on Pad 3N in the Platanillo field in the Putumayo basin of Colombia. Platanillo 24 is the second of a minimum of two infill wells planned and will take approximately 30 days to drill and test.
Today we are told - 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. ie 4 months later.

[blackdown2] 09/1/2017 14:15

The locals will no doubt continue to cause problems for a while.

[francis55] 09/1/2017 13:21

Was it only me who spotted subject to resolution of local social protests in the report?

[the dark horse] 09/1/2017 12:41

Whilst I appreciate the frustration I think we should also remember to be happy on good news.......this was NOT a duster.....it will produce....it can only be positive and at least it is on time, under budget, and we are being informed promptly ;-)

From a chart perspective the correction turned out to be a more complicated drawn out affair that we had all hoped but it is looking better again :))

[lucyp00p] 09/1/2017 11:39

Price of oil VS transportation costs might be a factor

[dayway123] 09/1/2017 11:16

Point is new pumping station.

[ladeside] 09/1/2017 10:58

What I'm not quite getting is that we appear to have umpteen producing wells yet our production output seems to have dropped from what it was at a year or two back ??

Maybe I'm just not reading things correctly, however it seems that the problem is not so much the wells as opposed to the transportation system and capacity. Until this has been rectified what's the point in having all these "producing" wells all working at under capacity and not only that but drilling more ??

[bigwavedave] 09/1/2017 10:50

A bit late posting but ... "Barclays PLC upgraded shares of Amerisur Resources plc (LON:AMER) to an overweight rating in a research report released on Tuesday morning. Barclays PLC currently has GBX 36 price objective on the stock."

[bigwavedave] 09/1/2017 10:46

It is a good result esp seeing at it is ahead of schedule!
But agree with FoiledAgain; why no flow rate? Sometimes they given them, sometimes they don't. Also, I was unaware of "social protests" affecting Platanillo. I thought they were specific to PUT-12 and the wisuyas in Ecuador. It is also clear from the price rise on Friday that the red trouser brigade got to hear this result before us.

[meneither2] 09/1/2017 10:16

Would be happy for you to be right trots. Maybe the ongoing problems of stated social unrest etc is sapping jw & Co's will to stay longer.

[trotting12] 09/1/2017 09:56

It's a good result guys ,, more production more money in the bank ,, and much more importantly , as I sujested before , the bod now want shareholders on side with the big prize heading our way later in the year ,, the news flow will come thick and fast

[charlieeee] 09/1/2017 09:30

Expected drilling and testing costs of $4 and only $2m incurred pre testing, presumably due to much quicker drilling time? The sooner production is added, the faster AMER will reach that 7200 BOPD, set as the Q1 2017 end target.

So, how soon before an update on the OBA volumes?

[foiledagain] 09/1/2017 09:02

eddie. Until we know the flow rates nothing is certain. It looks positive except for the N sands, but the problem is one of trust now. Might be a cracker of a well, but surprised there are no initial flow estimates.

The presentation suggests the N sand was better in the central and northern parts of the block?

Today's RNS suggests "The N sand was not well developed at this location, in line with the Company's seismic attributes model."?

[eddie_yates] 09/1/2017 08:58

I agree dayway.
It's seems you can please some of the people some of the time but not all the people all of the time!!

[dayway123] 09/1/2017 08:55

The fact that another well is being developed and will deliver greater volumes through the OBA has to be a positive.

[blackdown2] 09/1/2017 08:53

We've never been properly briefed as to why we were going to see OBA usage move rapidly to 5,000 per day, whereas now there seems to be a problem in achieving this.

[foiledagain] 09/1/2017 08:43

Have to agree with the 'third party' comment

I wonder if this result is why options were cashed in prior?

Today's news suggests result was in line with company's expectation on the N sands, but I do not believe the last presentation suggested that at all.

"The N sand was not well developed at this location, in line with the Company's seismic attributes model."?

Presentation
"• Strong N sand development in central and northern parts of the block – much stronger than southern area (which produced 400BOPD)"

[blackdown2] 09/1/2017 08:38

You're not alone. This company has been - and maybe still is - a serial underperformer. Fenix, Paraguay, OBA timing and then usage......the list goes on.

Best hope for PIs is that we are put out of our misery by a third party.

[currypasty] 09/1/2017 08:16

I don't know what's up with me.. my expectations are always way ahead of what's delivered !

[tommygriff] 09/1/2017 08:07

That RNS was probably behind Friday afternoons rise.

[eddie_yates] 09/1/2017 07:55

On a Monday too.
Is this the start of a planned effort to get the share price heading in a northerly direction