Amerisur Resources Share Discussion Threads

[paleje] 06/4/2017 15:59

Malcy this afternoon -

Amerisur Resources
Two pieces of news from AMER this week, one was the monthly production data from Colombia which is creeping up nicely, and is now heading for the 5/- b/d mark through the OBA pipeline and the other was in the form of a new director. Dana Coffield joins the board after an exhaustive search and he becomes a new independent non-executive Director and brings with him a wealth of knowledge from his time at Gran Tierra but more directly the Putumayo Basin. AMER is way too cheap at these levels and is oversold, something that will, almost certainly change before long.

[lucyp00p] 06/4/2017 13:32

Rex is back

[valentine] 06/4/2017 13:26

Dana coffield appointment terrific. JW recommended GTE and DC at first AGM i Attended. He knows putumayo area well and Ecuador to south no doubt. Give a couple of months for effect of his presence to be felt.

[tonyrelaxes] 06/4/2017 12:47

I only glanced at the production/transported figures, intending to look deeper later, but got distracted.

The two peak figures are not necessarily the same day so direct correlation may not be valid.

However, what did catch my eye was the difference between 'Total Production 134,681' and 'Total Exports 129,566' during the month of March.

This suggests, ignoring changes in storage volumes, that for the entire 31 days of March only 5,115 was transported by truck.

That's 165bopd per day. Probably less than a truck a day.

Have they dramatically reduced truck volumes for greater profitability or to ramp up the OBA volume to claim credit of (finally) achieving a target ahead of the Annual Report and following that, the AGM?

[al101uk] 06/4/2017 12:42

Total production is greater though, which is probably the more important stat.

Having said that, you do have to wonder where the bottleneck is at the moment, it looks like it's our ability to produce given those numbers or at least we are tightly matching production to OBA capacity (always going to be a margin either way).

[bigwavedave] 06/4/2017 12:36

But the peak OBA throughput is higher than peak production.

[al101uk] 06/4/2017 12:19

BWD,

Production = what we produced
Throughput = transported through OBA

Remainder = trucked or stored.

That's how I read it anyway.

[trotting12] 06/4/2017 12:07

Agm notice , and resolutions next week ?

[bigwavedave] 06/4/2017 11:56

Um, thinking about it...the extra 427 could've come from storage, although it is not explained. I guess they would have told us if it was third party oil.

[bigwavedave] 06/4/2017 11:49

By the way, did anyone else notice this from April 4 RNS?
Peak daily production was 4,381 bopd during the Period.
Peak daily throughput was 4,808 bopd during the Period.

[tonyrelaxes] 06/4/2017 10:07

An improvement.

I would still prefer more oil depth in the BoD - particularly an oil experienced Chairman instead of a 'city wheeler dealer'.
That would help promote us as a serious long or mid term player in the sector, sooner than the recent spectacle of a miffed Chairman, on having his pocket money reduced, responding by telling Metro/Standard reporters we are up for sale.

[bigwavedave] 06/4/2017 09:49

A good appointment. Dana Coffield is an oil man, which is what we all wanted, with an impressive track record at GTE. I remember tipping GTE to someone years ago when the shares were a couple of dollars. They went up to about $8 under his command (although I, naturally, never bought any!) They are now $3.50 so his removal did nothing for shareholders.
Time will tell whether he has any worth for AMER. But he has a good knowledge of Colombia and how an oil company works. Two important ticks there.
Anyway, he's got to be infinitely better than his predecessor Nigel Luson. What a waste of space he was. I remember him propping up the bar in Cardiff, in 2014, telling anyone who would listen that oil would never fall below $100!

PS: I always fancied GTE as a predator. Could Coffield's appointment be in any way connected?

[al101uk] 06/4/2017 09:44

In his last year Dana earned around $2 million (Canadian I assume), wonder what he'll think of JW's compensation.

[tsmith2] 06/4/2017 09:32

All coming together here. Due a very significant rerate

[al101uk] 06/4/2017 09:31

From 2015:

South American oil and gas explorer Gran Tierra Energy Inc. has “terminated221; president and chief executive Dana Coffield on the heels of disappointing drilling results in Peru that are expected to result in a substantial writedown of petroleum reserves.

In a news release Tuesday, the Calgary-based company said Coffield has also resigned from the board of directors, adding his decision was “not the result of any disagreement with the board.” Coffield, a geologist, had held the post of CEO since Gran Tierra was founded in 2005, previously heading up EnCana Corp.’s Middle East business unit.

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Not the end of the world, especially as he's a non-exec. Looks a good appointment to me. Should be a new drinking game involving taking a shot every time the RNS mentions "best practice" and "good corporate governance". Lipstick on a pig or a real change? We'll see come options time.

[fsawatcher] 06/4/2017 07:35

gilesy boy doin his best to tick as many boxes before the agm

amazin how fast the board work when they tryin to save own necks

ave the agm resolutions been circulated?

[francis55] 06/4/2017 07:30

He was sacked in 2015 by Gran Tierra? Geologist to trade and good contacts in the area - wonder what his primal role will be?

[broncowarrior] 06/4/2017 07:13

Looking after the corporate governance - good to see.

[tonyrelaxes] 05/4/2017 20:19

Not quite a farytale place now spring is approaching - and, as below, earlier than usual.

Last week a friend who helped us on our motorcycle trip a few years back, was driving across a frozen lake in Yakutia to rescue someone and their broken down snow scooter when the ice broke. He, a young Son and a friend sadly died. His other young Son managed to get out of the car and out of the water before hypothermia totally overtook him.

[valentine] 05/4/2017 19:55

Tony. Remember 'Dont tell them your name Pike'. A lovely fairytale place within reach but outside Europe and not Asia or middle east. You chose well.

An old mate I put onto Amer back in the day sold out at 65p+ and bought part kopra thong north eastern thailand after much research. He is into ecological rescue whatever you may think. 100 light-years from the debauched south resorts, he says. Lucky so and so. He urged me to sell up too. Pity I didn't. It'll see him out, anyway. Happy in his isolation. Tony also. I Suspect.

[fangorn2] 05/4/2017 19:50

tonyrelaxes5 Apr '17 - 18:56 - 582 of 584 0 0
Graham
I'm living very much in the present but not in UK or the EU.

Thailand? Koh samui? Phuket?