Amerisur Resources Share Discussion Threads

[foiledagain] 19/10/2017 09:52

So good I posted it twice.

[foiledagain] 19/10/2017 09:52

this was the presentation about plat drilling, which is why I consider today's news a success

Significant upside potential:
• U and T Sand development –Pad 2N
• N Sand central anomaly
Work programme 5 wells - 2 development, 1 exploration, 2 appraisal

[al101uk] 19/10/2017 09:33

I don't know if the well can be considered a success if it does not produce oil. I've been hunting for the strategy behind Plat-25 but have been unable to find it. It's easy to claim success if you can change what success looks like after the fact.

Having said that, I like the RNS, I'd rather we had a producer, but the work was needed to define the reservoir, the well can now be sidetracked to produce and the RNS read as an honest assessment of where we are. It felt less like a company trying to hide news and more like an honest assessment.

We're in to the latter stages of defining the field and building a strategy to maximise it's productivity, I'm not expecting every well to produce any more.

Seems to have been shrugged off by the market too.

[dodge city] 19/10/2017 09:26

The train is rolling in the right direction.

[al101uk] 19/10/2017 09:22

Someone asked:

2nd Oct RNS:

"Platanillo-21, located on Pad 2N was placed on commercial production at approximately 1,000 BOPD on 29 September."

Also, coz I missed it from the 5th July:

"In Platanillo-21, the second well on Pad 2N, a leak in the primary cement job was detected and that well is currently being recompleted after a cement squeeze was performed and is expected to be placed on production in the next week, thus further raising production levels."

[blackdown2] 19/10/2017 09:10

RBC always referred to the OBA as a strategic asset. Once it can transport say 20,000 bopd consistently, it certainly will be and could stimulate some interest in the company from third parties.

[foiledagain] 19/10/2017 08:11

Astonishing that some must not have their specs on reading that RNS. Very good result, and if or when it creates a production well from that same pad, which was already the pad used for a previous well, costs are much lower. Good use of resources.

[moneylender] 19/10/2017 08:10

Steady as she goes, justifies my modest top up this week.

[fadilz] 19/10/2017 08:09

which part of 25p+ on Oct production figures is negative, in your eyes?

[rutter] 19/10/2017 08:06

oops wrong tgread sorry

[fadilz] 19/10/2017 08:05

acv74 - finger in the wind, and hopefully some realism.

1k production, 6k capability (production on producing days):

Also in today's statement: 'routine well service operations have been undertaken on Platanillo 10, 11 and 20'

[acv74] 19/10/2017 08:02

I mean plat 21 not plat 25

[acv74] 19/10/2017 08:00

On the 2nd of October they said current production was 7,400. So if plat 25 is producing at 1k per day (where did that figure come from), and there has been a modest production issue, I'm not sure why you think production will only be nearer 5k than 6k. Do you have some calcs?

[tsmith2] 19/10/2017 07:59

Yes, bob in foiledagain

[foiledagain] 19/10/2017 07:57

Credit where credit is due, this is a triumph in terms of strategy and planning.

To drill an 'exploration' well, gain all the geological data then carry on to find production well, is good management, good use of resources and will result in higher reserves as well as bringing into focus other zones that Amerisur previously encountered oil but did not utilise.

So not only do they line up the darts to ensure more success in future drills, they still intend having a producing well.

Two for the price of one, not exactly, but good strategy nonetheless.

[fadilz] 19/10/2017 07:53

Plat-21 was producing at 1k, but will have been out for much of Oct. Capability in Sep was in region of 6k (but actual 4k).

My guess is Oct production will be between 5 and 6k, perhaps nearer 5 than 6. And if true that ought on my model justify share price in mid-20s+.

Barring further hold-ups Nov production might be in 6-7k range, which would justify something around 30p. That's ignoring any contribution from CPO-5 LTT.

[squiresquire] 19/10/2017 07:47

No probs with that, good to have confirmation of N sands, new oil in days,

[lordyjordy1] 19/10/2017 07:45

Hi

Can someone explain what n sands and u sands are....
Although my understanding is limited this does not sound like a success. What do you guys think

[barbie60] 19/10/2017 07:41

Positive comments so far....just waiting for the glass half empty guys now :-)

[chopper harris1] 19/10/2017 07:37

"Modest" production interruption.

[boris cobaka] 19/10/2017 07:35

I actually do like the fact they've mentioned possible production interruption. Honesty always the best policy.

[laptop15] 19/10/2017 07:24

JW Sounds pleased with platanillo and CPO5!!! A very good sign to me as he knows his stuff :))

[seball] 19/10/2017 07:21

N sands better than expected are an exciting prospect and must not be underestimated as could potentially increase reserves substantially. Looking foward to oil flowing from cpo-5 block by end of Oct. Good luck all

[boris cobaka] 19/10/2017 07:14

Those sells yesterday better not be related to today's rns.

Sounds a bit like ukog
'Production from the Platanillo-21 well has been managed carefully in order to minimise water production arising from the incomplete cementation of the 7" casing'

Think we might get bit of a wobble. Nothing majorly exciting and they've indicated possible interruptions to production.

GL all.

[laptop15] 19/10/2017 07:10

Pretty good update all :)))