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[meneither2] 09/5/2017 15:35

Where is ml's summary please?

[al101uk] 09/5/2017 15:19

Thanks Glaws2,

That chimes with my thoughts on the subject.

[marnewton] 09/5/2017 15:13

Thanks ml;¬)

And Glaws.

M

[bigwavedave] 09/5/2017 15:11

Glaws - thanks.

[bigwavedave] 09/5/2017 15:10

Yes, I will ML. Agree re CP0-5 esp re figures from other local wells. Someone said that if ONGC announce that it is exciting, then it is. Also, plenty of infrastructure around there so getting it to market not a problem. ONGC will throw plenty of cash at it to get it developed.

[glaws2] 09/5/2017 15:10

The limitation on the OBA is down to the infrastructure in Ecuador and the under-investment in maintenance thereof. From Wardle's comments I was very much left with the impression that it much more about politics than simple technical resolution and it wouldn't surprise me if the increases in capacity (over and above the 5000 bopd they seem to be contracted to) are slow in coming. They don't seem very interested in using the OBA to export 3rd party oil (for reasonable economic arguments).

[westmoreland lad] 09/5/2017 15:07

Well done and many thanks ML

[al101uk] 09/5/2017 15:02

ml,

I understand there is no magic switch (much as we were promised one). I was just hoping for some clarity. There is a clear RNS history >10k bopd and the bod appear to have just hit the reset switch on it. It's like 2013/14 never even happened.

Happy we can finally close the book on the OBA, we're stuck of 5K bopd until PAM production decreases or additional work is undertaken. Would have been nice to see some kind of timescale or some information around how this was being dealt with.

I'm sticking around for Mariposa, will re-assess after the results come in for that.

Thanks for the update!

[fadilz] 09/5/2017 14:59

As I think I posted before, their best estimate for CPO-5 was 26mb recoverable, net to AMER, though the full range was 35-103-288 gross, so could be a lot more. But production cost will be key. We'll know in a week or three.

[moneylender] 09/5/2017 14:51

No Al101 its as I said in my email, those "shut in" wells are back online to replace others that are off line for whatever reason. There isnt a magic switch.

Dave keep an eye on CPO-5 and surrounding area, even though our percentage is low it could prove to be a game changer, my view!

[al101uk] 09/5/2017 14:43

Any news on the shut in/not shut in wells as regards production issues, production levels, ramping up etc.?

[bigwavedave] 09/5/2017 14:39

OK, thanks ML. So staying around 5k for now. (At least we don't have to worry about campesinos' road blocks while the OBA is working). CPO-5 sounds like it holds more excitement short term.

[moneylender] 09/5/2017 14:26

BD not form the bod, but I am told from another source the main seller has finished, in fact he has been buying recently. There could of course be other sellers that have had their stoplosses triggered on the way down, thus exaggerating the decline.

Edit: Dave I think you are correct about the pumping station.

[bigwavedave] 09/5/2017 14:24

Much appreciated ML.
What did they have to say about the pumping station and OBA throughput? Are they unable to increase it above 5k or are they choosing not to? My understanding was that they needed to "rehabilitate" a pumping station before they could increase exports...maybe this was clarified. 5kbopd is meant to a minimum not a maximum.

[blackdown2] 09/5/2017 14:21

ML

Any comments - on or off the record - about what appears to have been some consistent selling over the last few months?

[charlieeee] 09/5/2017 14:14

Thanks, Moneylender and good to get your summary, particularly keeping the locals onside and continuing to help re the mudslide.

Some of the nearby wells to Mariposa

Yatay-1 test flow 10440 BOPD
Taya-1... '' '' 5218 BOPD
Maniceno. '' '' 7280 BOPD

Many others greater than 1k BOPD

(Details from the Feb presentation)

[davwall] 09/5/2017 14:13

With so much potential AMER production capacity it's a concern that PAM has AMER by the balls regarding use of the network. Resolving that bit still seems pretty wooly. PAM needs a good kick up the Rs.

[moneylender] 09/5/2017 14:04

Firstly it was good to meetup with friends and shareholder both new and old, along with the bod, even Giles spoke to me and made an effort to answer some private questions.

The ship is on a steady course of progress and growth whilst developing and maintaining good relations with the local population and government. We are still helping with the aftermath of the mud slide disaster of a few weeks ago. Programmes of help to local farmers are in situ to divest income away from Coke to legitimate crops. The bod are very keen to be seen to help the local population in any way they can, this is very important in Colombia.

As of today the production is 5200bopd but this does fluctuate from day to day. The recent discovery in the Mariposa 1 well is creating some excitement. There are wells close by on the same structure producing several thousand bopd. A follow up well is planned as soon as testing and analysis of the results from Mariposa 1 are complete, but I cannot emphasise enough the excitement created by this discovery, its going to be big.

Over all the Company strategy in the Putmayo basin is to acquire more acreage as and when opportunities present themselves, obviously the current low oil price is helping with this scenario They aim to become a major player in the region and intend to have a production at the end of 2017 of 7k bopd. Currently all production is exported through the OBA. Our best producing well is at Plat 22 on pad 2N. The logs from Plat 22 show the M2 sands are showing good oil and gas saturation and will probably be drilled using horizontal boring to improve production efficiency.

Cant think of anything else that is not in this mornings RNS but overall I was impressed with the forward looking plans of the bod..

[marnewton] 09/5/2017 13:50

Much of Malcy's output is paid-for-pap, so of questionable value.

M

[bigwavedave] 09/5/2017 13:47

Did they say anything was imminent?

[lucyp00p] 09/5/2017 13:45

Well I was impressed

[napoleon 14th] 09/5/2017 13:44

Malcy is fundamentally a commentator on the oil & gas market.
Previously a sector analyst with I forget who.
Dunno how he opperates, but I find his comments useful & accurate on the whole.