Amerisur Resources Share Discussion Threads

[squiresquire] 20/4/2017 11:07

FA

You were told, what else can they say? How many times should a company CEO respond to the same question from a shareholder.? You say you were told 'categorically' which sounds to me as if they were absolutely firm in their expressed reply to you? Would you give another reply?

I honestly think you expect too much, you can keep repeating your question, but dont you think it may be considered a little rude after having received a categorical reply. They do have a very good reason for keeping the wells as they are, indeed they have said they wanted a better price. Head and brick wall come to mind for this one. They have answered you with a categorical retort that looks jolly good to me. When Malcy visited he made no comment on this, one presumes because, as the management say in their reply to you, you have got it wrong from a post on a bulletin board.

[bigwavedave] 20/4/2017 11:04

Excellent news this morning. Very pleased to see it. Were it not for our friend in Monaco, this would be well into the 30s by now.

[foiledagain] 20/4/2017 10:55

Lucy. Contrary to what you suggest these wells were a topic on this board previously? I sought to allay fears put on this board by another poster who stated there was water ingress on these wells. I was assured categorically there was no problem with these wells. Subsequent RNS stated reserves were lower because they were off line. So its not random speculation either? It is a valid concern, especially after being assured they were perfectly OK, and THEY MIGHT BE. That would make today's news ever better.

However, if I was told there was no problem, after alerting Amerisur to suggestions there were, and told categorically there were no problems. If it transpires now that there are problems, there will be ramifications, but we don't know, and that at the current stage is the only problem.

If its confirmed these wells will still produce that will make today's news even better, and would increase our reserves further.

It is conjecture to say they are damaged, agreed 100%, but it is of legitimate concern when previously I was categorically assured the poster was not truthful about claims the wells could not produce or were having water ingress problems but where now I get no confirmation about these wells at all, and nor have other holders that I know have contacted the company. I can see no reason to withhold that information.

I believe it may have been A101 that posted a list of these formerly producing wells, and even if we are told they are not producing still because of oil price, its fine, but being told nothing isn't.

[big7ime] 20/4/2017 10:26

They will be waiting a little while to gauge that POo has stabilised above 50$ before bringing the sleeping wells back online IMO, nothing wrong there.

[big7ime] 20/4/2017 10:23

Nice! Very nice. I have topped up (averaged down) another 50k today. I Really think this will shoot up this yr into the 40s, Surely ..

[squiresquire] 20/4/2017 10:22

oilandgas

Agree completely the past has been bad but they are certainly singing form a different hymn sheet these days, and the price does seem really very low.

It will be interesting to see Malcys take later, he has been bullish on this for a while, he may shed some light, but i think you are on the money, its AMERs poor past delivery that the market needs to see actually is a thing of the past and the company is now progressing well.

[oilandgas1] 20/4/2017 10:11

Squiresquire - unfortunately the end product and proof is in The share price or In This case currently not In The share price .. so GC and JW are failing and have been for 18+ months .. both with OBA and the late drilling programme!!

It is starting to get more positive , but other opportunity items have made more profit and grown in value in this period .. HUr, SOu, SDX, IAE, ENQ, even PMO!

[al101uk] 20/4/2017 10:06

First grumblings of missed timescales on the KENV thread, I'm sure they'll get used to it ;-)

[squiresquire] 20/4/2017 09:58

Thanks for that Martin, the short position is really small which is good. Will look up the jonnycash post, cheers

[marnewton] 20/4/2017 09:54

Hi squire,

I'm keeping well, thanks, I trust you are too.

Reason? Sentiment?¬)

Your guess is as good as mine. All sorts of theories have been put forward here - jonnycash produced a cogent post recently which might be worth looking at.

I think there's a half percent(?) short position...neither here nor there really.

ATB

Martin

[al101uk] 20/4/2017 09:48

Thanks FA,

I only saw a tel no, would you mind pm'ing me the e-mail address?

I agree with you that it's a concern and something that should be addressed at the AGM (too many people with questions for it not to be now).

I only really see two scenarios:

1) The wells can't be brought back in to production, if they are aware of this then that is market sensitive information and should be released via RNS. I think a lot of things about management, but generally they comply with their legal requirements.

2) They want to develop the field, have restricted onward transport and so are not opening the taps for that reason. My issue with this is the talk of bringing in third party oil, surely pumping from our own wells first should be priority.

I'm comforted that you have, at some point in the past had confirmation that there is no damage to the shut in wells.

Gong to be an interesting AGM.

[squiresquire] 20/4/2017 09:43

Hi Martin,

Have you been able to see any reason for the way this is being held back, which it clearly is. Is the dumping from dear old Rex going on, and if so is it the reason for this 'ceiling' in place. Any thoughts? TIA.

Hope all else going well. Had a very nice profit from JAY recently otherwise just holding and watching PANR and SMA.

[foiledagain] 20/4/2017 09:35

charlie

Don't be ridiculous.

I do not query their reserve report, I am querying whether wells taken off line that have REDUCED reserves are as we were told previously fully capable of going back on line to INCREASE reserves.

If you take wells off line, reserves will reduce, Amerisur stated as much previously.

So please don't get into the personal 'you think you know better' because its nothing to do with that, it is a matter of FACT, so lets keep it at facts, not personality.

FACT: amerisur made it known reserves were lower because wells they had taken off line affected the reserves.
FACT: Amerisur were contacted by myself about concerns when someone posted that the wells taken off were because they were incapable of producing...
FACT: Amerisur categorically denied they were damaged in any way, or had water ingress as a poster suggested.
FACT: Amerisur stated they were taken off line because of oil price, which if that was the only reason was a good one in my opinion.
FACT: Amerisur have subsequently not replied to my queries about the wells taken off line, in any way, shape or form, which is a concern.

[marnewton] 20/4/2017 09:33

I'm still waiting for closes above 23.25p to confirm the double bottom/trend change.

M

[al101uk] 20/4/2017 09:25

FA,

How are you contacting the company?

You may have got lucky previously, I've never had any kind of response and that has always seemed to be the general feeling here... that communication was poor.

[lucyp00p] 20/4/2017 09:10

For the record I think this is bloody marvellous news. Every RNS these days seems to make RH look more and more like a spoilt child who has chosen absolutely the wrong time to dump his holdings. I'm so happy that the share price is so cheap as a consequence and simply can't control my urge to load up.

[jonnycash1] 20/4/2017 09:07

Millions of shares are traded in this stock everyday. No matter how deep your pockets, it would be impossible to manipulate the price for any length of time, especially if there was any real momentum behind the stock. It's not that easy to start playing with fire for any length of time as any trader would tell you. You can't fight the whole market, you can only piggyback in the long run. The volume traded daily and simple mathematics speak for themselves really.

[sleveen] 20/4/2017 09:02

FA re:
Sleveen. It could be except for the deafening silence from Amerisur over this issue.

Normally I get a reply within the hour

When previously I mentioned that there was concern over comments that wells taken off line were in some way damaged, within minutes it was unequivocally denied.

Several times since I have queried these wells, as they impact reserves and of course production.

Of late though, not one reply confirming whether these wells are able to be brought on line, or why they haven't been, or even denying they are damaged which previously they had no problem doing. If it turns out they are damaged as was suggested ages ago on this bb by another, then there will be serious ramifications to the BoD at Amerisur

....After answering the same question from the same person perhaps no response was given because they didn't want to encourage yet another same question from the same person. I know I would be somewhat irritated by being asked the same question by the same person time after time.

Let it lie.:-)

[charlieeee] 20/4/2017 08:56

This lack of confidence in the BOD, is simply a mantra.

The BOD are extra ordinarily competent and it is their greed which is the big negative.

Running the argument from both directions, the BOD seem to think that they should not be punished for poor results due to POO, whereas RH and his camp look either at the bottom line (or rewards in absolute terms).

The last 6 months has delivered, timeously, a raft of good news, but emotions re this wrangle run high and the bitterness has clouded reason: just dumping shares into the market to punish the BOD is about as childish as it gets.

[al101uk] 20/4/2017 08:54

Thanks Fadilz,

Saves me a job :-)

I will update my spreadsheets in due course, but pretty confident I'll come to the same conclusion.

[blackdown2] 20/4/2017 08:50

Or rather someone holding it back. The constant dribble of selling continues.

[currypasty] 20/4/2017 08:46

great news, but, there is obviously something holding it back...

[aceuk] 20/4/2017 08:42

And bluntly who cares what Malcolm Graham Wood says on any short term issue? I'm sure he will be proven right, like many here, but at this time his words are not worth the screen space in front of you.