Amerisur Resources Share Discussion Threads

[moneylender] 10/12/2018 12:15

Next operational update will be around the first week of January. It will include OBA throughput and CPO production and probably Indico and Pintadilo test results. Not forgetting some outsourcing news for OBA.

[bryet] 10/12/2018 12:09

It makes you wonder what this company has to do to lift the share price to a decent level.

[wantage] 10/12/2018 12:05

Stil a lot of loose stock out there. Is there a seller in the background?16pStill a sticking point.

[moneylender] 10/12/2018 11:56

GC said, “This is an excellent result for Amerisur and our partner ONGC Videsh, and underlines the very high potential of this Llanos basin block. I take this opportunity to congratulate ONGC Videsh on this important success and to thank them for their efficient and productive drilling of this key well.

Amerisur’s CFO, Nick Harrison said: “If the Indico-1 well performs anything like that [Mariposa-1] it would point to the fact the CPO-5 block could be very prospective and perhaps larger than we’d hoped for”

John Wardle, CEO of Amerisur said:

“In our view the principal pre-drill risk in this well was the presence of significant sand development in the Une formation. The results of the drilling have significantly exceeded our expectations in this respect and of course the very significant oil column encountered means we will have to review, with our partner ONGC Videsh, the resources associated with the Indico structure. The fact that no OWC was encountered is also very positive for the eventual size of recoverable reserves within the structure. Naturally, given this result, the Company and our partner will be reviewing options for further appraisal wells into the Indico structure in the short term, which will be required to further extend and define the resources encountered.

“Our impression now is that we are developing an important play fairway within the LS3 unit of our large CPO-5 block, which will be further explored with the drilling of Sol-1 post short-term testing of Indico-1.”

TGG think JW might agree with me!!

we are developing an important play fairway within the LS3 unit of our large CPO-5 block,

[charlieeee] 10/12/2018 11:50

The Llanos 34 field extension is in fact in the middle of the north of CPO-5 (top of Moneylender's map).

There are 3 specific areas of interest in CPO-5

This,which is turning out to be a monster
An area in the south
The continuation of Llanos 34, where effectively our research is being done for us. At the AGM, JW talked about drilling this latter without doing further research: the detail is in the AGM presentation (where he talked about Indico being "full to spill") and at that meeting, there was talk of just how big these reserves could be.

Eventually, this will reflect in the SP, particularly when they start to get stuck into production wells.

Mariposa's ongoing performance has been stellar: compare it with all those shale wells, which drop off within a month and here we are, a year later, not even needing to perforate the next zone to keep production up: full payback achieved and pure profit on a daily basis.

Flow rates should give the share price another boost shortly and volumes today are washing out the traders at this level.

[lucyp00p] 10/12/2018 11:14

I just looked at the calculator again and it says BOOBIES - not sure if that's the original number 8008135, or my son borrowed it.

[beauf] 10/12/2018 11:14

"Decent rise but expect real fireworks will come when initial flow rates/pressures are released... I was wavering on AMER, deciding whether to cut my losses & move on, now I'll keep a tighter grip on them until value is reflected."

Just to let you know I have been doing this for...10 years...this time next year...£1.00 by xmas, etc etc. Good luck all!

[thegreatgeraldo] 10/12/2018 11:13

I will accept that the initial reserves booked for Mariposa look conservative in the extreme & there would seem to be scope for an extra well or two to increase production

[moneylender] 10/12/2018 11:09

lol, all in the best possible taste tho!

[thegreatgeraldo] 10/12/2018 11:07

Not monumental assumptions, just rather foolish (I'm being very polite)

[moneylender] 10/12/2018 11:05

Now for a bit of fun if we extrapolate Mariposa's 120 feet and given 12 feet produce 3500 bopd, the 100% extraction we have 35000 bopd, bit far fetched I know, but...

so now we have at Indigo at 200 feet, assuming the same extraction rate ie 3500 every 12 feet, we have a further 57000 bopd. Thats a total of 92000 bopd from two wells. Not too shabby for a little oil tiddler, dont you think?

I know there are monumental assumptions there but who knows.

[thegreatgeraldo] 10/12/2018 11:01

Fully aware of what GPK have oop north, I've been a s/holder there for years. What isn't clear to me is whether CPO is a continuation of block 34, or a different play entirely..... AMER have supplied very little help on this front. A simple cartoon to illustrate the geological structure(s) sold be very helpful. I've assumed something along the line of 3 way dip closures which are fault bounded....

[moneylender] 10/12/2018 10:50

TGG with a little poetic licence here we know Indigo is 6k away, now if our strike is a continuation of LL34 that enters our block about 20 kilometres away as you can see from the map to the NE. Then we def need a bigger boat!!

[thegreatgeraldo] 10/12/2018 10:45

acv74
10 Dec '18 - 10:35 - 14595 of 14596
0 0 0

I haven’t thought about the maths but it strikes that 200 feet depth over an area of 6 kms in each direction, cubed, is a large number.

..think you're getting a bit carried away there.....

[tsmith2] 10/12/2018 10:41

Any word from the brokers?

[acv74] 10/12/2018 10:35

Lucypoop, what was the number out of interest?I assume a standard shopping 8 digit calculator doesn't cut the mustard, crack out the scientific one.I haven't thought about the maths but it strikes that 200 feet depth over an area of 6 kms in each direction, cubed, is a large number.

[retailronnie] 10/12/2018 10:22

Sp probably best value for a very long time. When money moves back into the market, this will pop. Wish I had more funds, already sold the Granny.

[knackers] 10/12/2018 09:46

An utterly ludicrous reaction to a world class discovery. 2019 is indeed shaping up to be a great year and no way Saudis will entertain a POO below $70 pb long term. The next drills in this prolific block will concentrate minds for sure.

AMER's partner utterly nailed it!

[juuunx2] 10/12/2018 09:38

Need to break through 14p ideally then 16 next barrier

[wskill] 10/12/2018 09:22

Who cares what Mr market is doing today in the long term we will do very well with AMER ,will only be adding to my now considerable holding here give it a year or so for value to be realized.

[dayway123] 10/12/2018 09:20

Fantastic news for LTH this is the spring board we’ve all been waiting for. Should rise steadily from here with lots of positive news to come.

[acv74] 10/12/2018 09:14

Little bit of healthy consolidation, think we could see some more action this afternoon when the news filters around a bit more.