Amerisur Resources Share Discussion Threads

[valentine] 09/3/2017 09:51

I was forced to sell a few at 25p to cover pressing financial needs. I've been desperate to get the money back in many senses. After the unexpected decline I want them back all the moreso.I predicted 20p a while a back, more in jest than anything.Then many a true word eh? They are stocking things up for an AGM day declaration imo. The Presidential election in Ecuador needs the businessman right-wing candidate to win in order for things to move forward. So first week of April will see a building block(maybe) for something positive on AGM day.
Not feeling quite as bad now, as the day of forced sale last month.

[aceuk] 09/3/2017 09:41

Thanks Eddie_Yates, you are right which is why I said I'm going to think about it seriously over the next few days. My memory is a bit more rubbish than it used to be, but I don't remember and RNS without either Clarke or Wardle's name attached. Perhaps it could be a reason to buy more?

francis55 your input was unrequested and my reaction to you has not changed - I am sitting on a lot of shares which do not owe me one penny, so eff off.

[eddie_yates] 09/3/2017 09:29

Must be a suction station then Foiled eh !!!

[foiledagain] 09/3/2017 09:26

For your information the pumping station is not in Colombia.

So for all your well informed advice I wouldn't bother.

What I do suspect is now it's in open we may just have hit low share price

Does explain why some got off the amer train but I have little doubt they will be getting back on and what better time than now.

Will Amerisur get anything from negotiations? They might

[francis55] 09/3/2017 09:17

Columbia does not have the best reputation on freedom of movement which would include expert engineers laying pipes. You people should take your losses and go elswhere as your words are clear testimont to your inability to see forward v your present losses. This company is making money not loosing it, no debt, laying foundation including OBA to reduce OPEX, and still has up to 12 oyher wells to drill. Its at times like this you look at the real news and firm a logical opinion as to stay or go - if you want it all today go day trade otherwise buy more at these low prices and reduce your liability.

[eddie_yates] 09/3/2017 09:17

Before you sell Ace maybe have a look at the possibility of reserves upgrade come the end of the month.
Last years reserves update stated that LTT at Coati could add to reserves and page 8 of Sept presentation titled "CONVERTING RESOURCES INTO RESERVES AT COATI" states that U & T structural trap tested in 3 Wells and Currently estimated at 16MMBO*
resources (low case).

[charlieeee] 09/3/2017 08:50

I was having those same thoughts, Eddie.

It is not about our having exclusive use of the pipeline from HR onwards: it is about our share of that capacity and by definition, that would have always been unverifiable.

So if a third party has reneged on the deal (and that 3rd party happens to be someone quite important in Ecuador....) which is the best thing to do, litigate, or steadily negotiate/compromise and look for alternative solutions?

This is beginning to feel a bit like the Brexit circus, a game to be played with cards closely guarded.

[eddie_yates] 09/3/2017 08:42

That's maybe true Lucy but do you know if things south of the border haven't changed since OBA design??

[adam] 09/3/2017 08:39

Yes, does smack of reward for failure

[lucyp00p] 09/3/2017 08:35

What I do know is that a lot of options were granted on a project which has done little but make Amerisur look under prepared at best or incompetent and perhaps they should be cancelled as we seem to be no better off than if the original project had been completed. (When I say "we" of course I exclude the BoD's)

[thetoonarmy2] 09/3/2017 08:34

I reckon Mr Hammond wrote this RNs:) Oh Francis I bought low and its gotten even lower so for people to express concern is not that they are bleating its called concern from the lack of direction by the Directors, read the RNs it proves my point!

[eddie_yates] 09/3/2017 08:33

Feb presentation states that a Roda intermediate pumping station is currently offline.
Would this have been the case since the pipeline was designed??
I don't think so

[eddie_yates] 09/3/2017 08:24

How do you all know that factors in Ecuador haven't changed since the conceptual design took place?
How can Amer be held accountable for a guarantee which was not of their making??

[lucyp00p] 09/3/2017 08:19

The OBA was significantly delayed because the capacity was increased to 70k BPD and huge costs incurred accordingly. It seems like the original specification was bang on and could have been completed 2 years ago but someone got greedy and didn't do their homework assuming cross border capacity was not an issue. Heads do need to roll for this humiliating failure which has nothing to do with geography as the share price recovery was fueled by the potential of the OBA to operate at high capacity. Clearly the pumping station bottleneck is not resolvable any time soon so no matter how many new wells we drill, high transport costs are a factor. It looks like the smart money knew this and bailed out driving the share price to a number which looks about right as things currently stand.

[eddie_yates] 09/3/2017 08:14

At least the apprentice hasn't been sacked again!!!

[rollthedice] 09/3/2017 08:13

It does beggar belief that this bottleneck / pumping capacity shortfall was not identified and dealt with alongside OBA especially given the large capacity of OBA.

RNS shows a gradual improvement but it still feels like share is treading water. Perhaps next improved financial update will prove the spark to get share price moving upward again.

[foiledagain] 09/3/2017 08:06

For real, because I know how pipelines are designed and projects handled, and you don't undertake a pipeline without knowing about bottlenecks beforehand, you don't undertake a project by not considering everything about the project, because it matters not the diameter of a pipe, you could have a 24in. pipe, but if downstream you have f ups in a pipe network restricting output, you need to know and plan for it at the outset and you could still end up with poor output whatever the diameter or ratings of the pipe you have laid, and you don't report back that something is under budget if then you are going to have to 'negotiate' after the event and you don't report a completion if its not even doing the throughput guaranteed.

It gives a clear reason why some, including Directors have offloaded , but for most investors today is the first day we see about this "NEGOTIATION" but it also gives a good reason why the share price has been pummelled.

Hopefully now this is out in the open things can go forward, but if you think the BoD have covered themselves in glory over this pipeline, then good luck to you.

[foiledagain] 09/3/2017 08:00

NO its about correctly informing the market too

For years this pipeline was known of, and investors were informed of its imminent completion over how long?

Even comments about being under budget look shaky now, because you do not spend millions on a pipeline, then comment about its 'imminent' completion, get a 5,000bopd MINIMUM throughout that isn't' being achieved, then come back to investors to comment about a "NEGOTIATION".

I think some will believe they have been misled, but I can see why some others possibly in the know have taken the opportunity they have. Requires explanation either to shareholders or to those involved in regulation.

You do not design a pipeline, or lay one pipe in the ground before sorting this out at the outset.

[filterwest] 09/3/2017 07:48

Is all about production. Increasing production will help the share price

[foiledagain] 09/3/2017 07:46

Very disappointing to hide the failure of due diligence in this RNS.

"negotiation of the construction of the re-pumping station Chiritza with Petroamazonas EP"

Negotiation! What the f?

We received RNS after RNS about the OBA being imminent with never a comment about bottlenecks.

With all comments about being under budget and the transformational nature, and now we are informed about "NEGOTIATION" about three years too late. You negotiate that at the outset, and you include the costs in the pipeline, not report about it being under budget, and then add in any extras after the event.

Giles, Go walk the plank immediately.