Amerisur Resources Share Discussion Threads

[al101uk] 20/12/2016 10:12

SQUIBNO1,

I wondered this, but as usual management don't even mention the possibility. I'm not sure what "contracted 5K bopd" means if delivering less than half of that has no repercussions.

I'm done with with the tendency here to assume the best "all the pieces are falling in to place" etc. This is one f'cking big jigsaw and it's being assembled by a bunch of blind baboons if that is the case.

[squibno1] 20/12/2016 09:56

"To have a pipeline with massive potential capacity that can't even push 5,000bopd through it without upgrading after the event is a nonesense and heads should roll." Should compensation be claimed from the designers ?

[dayway123] 20/12/2016 09:52

Total lack of confidence in this present board. The share price says it all.

[foiledagain] 20/12/2016 09:49

Eddie. That's a ridiculous idea.

The pipe doesn't need upgrading, but the pipeline was always going to be on Colombian and Ecuadorian territory, so it matters not where the upgrade is, the pipeline itself which is what investors are interested in, is not properly functional. This should have been apparent and would be apparent to even a first week apprentice.

Yes, you can bang a pipe in with 100,000bopd anywhere if it makes you feel good, but if you don't take account of pumping requirements its as good as trying to drain the Atlantic with a teaspoon.

[oilandgas1] 20/12/2016 09:31

The info I have from earlier this year was that the OBA original planned spend was $9m, last I checked they spent $18m , it seems like more $$ is being spent to get OBA properly functioning .. costs unknown and also not to disclose a cost of acquisition and to call it non material, based on Amer track history of cost management , does not fill me with confidence!

[rollthedice] 20/12/2016 09:21

It does seem very remiss not to check the pumping capacity both ends and through the OBA. Millions have been spent on it, capacity for decent volumes was built in but can't actually be used. It's like buying a Ferrari but find, after you've handed over the huge wad of cash, it's powered by a Fiat Panda 0.9L engine.

[francis55] 20/12/2016 09:19

I suspect present investors have lost confidence in BoD as this type of news should have at the least spike the share price up?? Perhaps a change on the board and fresh thinking is whats required to reinstate confidence. Old bread gets stale at some point....

[eddie_yates] 20/12/2016 09:16

FoiledAgain
The OBA pipeline doesn't need upgrading or modifying but the Ecuadorian reception facilities appear to.

[foiledagain] 20/12/2016 09:12

Eddie. Theoretically but that excludes the Capex on the pipeline, the operational cost of the pipeline, let alone any costs in building schools, or costs awarded to tribes or the opportunity cost, also misses out the actual cost to have the pipeline functioning at a reliable level or even having the production for that level.

Then you have the delay costs to shareholders in not having the pipeline anywhere near timescales suggested YEARS ago.

Have a Happy Christmas, but again BoD you can go f yourselves.

[eddie_yates] 20/12/2016 09:05

FoiledAgain
Even at a flow rate of 2000BOPD equates to a $7,300,000 yearly SAVING alone.

[lucyp00p] 20/12/2016 09:04

Technically illiterate is probably better than actually illiterate.

[foiledagain] 20/12/2016 08:56

What I am so surprised and disgusted at is the apparent unprofessional technically illiterate situation with the pipeline.

One of the most basic calculations when creating a pipeline to transport oil or anything else, is calculating and incorporating from the start, the pump capacity necessary to flow the materials efficiently through the pipeline.

Now if you took even the 5,000bopd guarantee that apparently we are not even reaching, then put a pipeline with capacity to take say 50,000 the pumping capacity even at its most minimum should accommodate the expected foreseeable requirement.

To have a pipeline with massive potential capacity that can't even push 5,000bopd through it without upgrading after the event is a nonesense and heads should roll.

No doubt the BoD will want copious options now for gaining more acreage and hope we take our eyes off the lash up on timescales and most everything else.

Have a good christmas all, but the BoD can go f themselves

[francis55] 20/12/2016 08:39

Interesting. Either these acquisitions are flogging a dead horse to make all look well at a troubled company and other businesses are getting out of the region because they are not in as deep and foresee issues politically as negative to further investement or have run out of cash with low oil prices in whuch case this is a stroke of genius (material costs) where Amer increase presence and start to pump to the levels forecast on a $70 oil forecast Q3 2017 by the so called experts.???

[lucyp00p] 20/12/2016 08:34

Well I'm positive. Clearly shipping production at $12 VS $23 has the potential to turn non performing assets into profitable ones and, as anticipated (for years) Amerisur is ideally placed to mop up neighbouring sites for peanuts while the oil price remains low. Hopefully JW has a war chest available to snap up more of these as OBA capacity issues are resolved. Regarding production volumes, it is highly unlikely that the oil has gone away. Without putting on my cheerleader outfit I applaud the strategy of turning down the taps until the OBA is fully open. It's OK if the rag heads want to give their oil away for loose change but why should we?

[rollthedice] 20/12/2016 08:20

Yes blackdown... very positive about a number of shares HUR, IAE & BKY to name just a few. When AMER actually start delivering to target & timescale I'm sure I'll regain my positivity here too :)

[blackdown2] 20/12/2016 08:16

Are you ever positive about anything?

[rollthedice] 20/12/2016 08:10

Not much of a reaction ~ only trades so far are sells. Why are others offloading when presumably OBA opened up negotiating potential for offtake from their close-by fields? Are others offloading acreage because of local issues? Why hasn't cost been disclosed? (Okay last is apparently non-material).

Long term could be a real plus but short term will mean more capex presumably. Not feeling very positive about AMER recently... as you can probably tell!

[handlebar123] 20/12/2016 08:08

Seems like the management are getting every piece of the puzzle in place... Albeit at a snails pace. Once POO picks up then production ramped up, and cost benefit from pipeline in full flow.

[meneither2] 20/12/2016 08:03

Of course amer have been clever in the past at playing things down until they get control. No material cost?

[handlebar123] 20/12/2016 07:57

How much did it cost?

[trotting12] 20/12/2016 07:15

News,,, hmmm the plot thickens !!

[bigbas] 19/12/2016 22:46

There is of course a lot of sense to only pump enough oil at current prices to cover costs plus a bit and leave the rest in the ground to build reserves and sell when the oil price getd higher - which it will - eventually