Amerisur Resources Share Discussion Threads

[gersemi] 07/1/2019 08:31

We still have a seller here

[aceuk] 07/1/2019 08:30

I hope your waffling on gives you comfort - bores the hell out of me

[kaos3] 07/1/2019 08:13

yes - he was making a reference - a similarity to ours field and our available data and hoping for the same huge oil field

[kaos3] 07/1/2019 08:06

he also explains how traps can constitute a big connected oil field around 28:40 and next he uses lingo; significant price next year

at 38min - we are focusing our investments on the low risk - which explainshow huge it must be to shift the attention by non drilling their 100% operated plots after all the very difficult civil preparation work done?? which had great prospects

[retailronnie] 07/1/2019 08:04

He wasn't referring to our asset though, he was referring to the field in the North East.

[kaos3] 07/1/2019 08:00

this is the most important field found in the last 25 years , massive -

and this is what we are putting out in the terms of expectations - he said in may 2018

[kaos3] 07/1/2019 07:56

he uses term "compressional structure" which means a trap! the largest trap
but
a trap is a trap of an hydrocarbon path,extension of an oil kitchen somewhere else and imho he is hunting for the big one - the source - which filled this trap and spilled oil all around - also into this pocket

[deanroberthunt] 07/1/2019 07:51

if this field is contiguous, then you're talking a $5-6bn company, when fully developed...and that's being very conservative

[kaos3] 07/1/2019 07:46

sogoesit - what I learned is - at the end all is about art and feel - not hard science - even in oil. some have it. Dr Trice and Dr JW have it and are brave enough to act on it despite all.

NE is where the field will expand probably - he also said he "needs" 3 wells fast (triangulation possible) fast to get the "feeling". plus new 3D in extended area is ongoing.

he stressed the stability of Mariposa production which is a good sign of the huge reservoir. no water no gas!

infrastructure for their own drilling was set but they chose to drill only one hole. why? why giving up (not really) on oxy ...

[sogoesit] 07/1/2019 07:37

kaos, he also mentions that there is lack of seismic data NE of Indico between Indico and Bacana, Jacana and Tigana.
He hints that this is where the important (future) prospectivity is - to prove-up the Llanos basin trend along that NE-SW trend fairway. (The so-called single/simple(?) field).
But that is for the future.

[kaos3] 07/1/2019 07:22

what they did last year was:

increased OBA
bought some more properties
oxy deal

and that is it in my book.
is that normal for JW and his mentality - only in context - now I am starting to understand

what one does if he finds a gold nugget in the river - keeps calm, does nothing, collects properties, prepares infrastructure, gets rid of the other activities (oxy) and does nothing about booohing of the folks (like myself). as he KNOWS

[kaos3] 07/1/2019 07:16

I am getting interested in amer "for real". so I listen to the interview

JW said - we are spending lots of time in OHGC but we are not running it (it implies they do !!)

JW - was EMERALD

he knows - hence he acts - with others people money (OGNC office) lol

amer owns the only operational basin pipeline - OBA - the Warren Buffett natural "bridge" monopoly !!

[sogoesit] 07/1/2019 06:50

Thanks, I will chase that down.

[retailronnie] 07/1/2019 06:48

The pressure build up test related to Mariposa (edited previous post). The best resource there is on CPO-5 is a webcast with John Wardle. Spends about 10 mins talking about it. Page 14 onwards

hxxp://webcasting.brrmedia.co.uk/broadcast/5af56ddbb8283f1e00f55185

[sogoesit] 07/1/2019 06:44

So that’s what has been “seen” so far from the Indico well from one B/up test, RetailRonnie?
Edit: ok, understood from your amendment that that comment is from Mariposa.
Thanks.
PS. The multi-rate and ST tests on Indico have yet to yield their results.

[retailronnie] 07/1/2019 06:39

JW on Mariposa:

"Pressure buildup tests that the apparent drainage area of the structure, the constant pressure boundary, is round about 3700 acres which is significantly larger than the closure. ".

3700 is approximately 15km sq or if a circle then approx 4km in diameter.

It may not be a single reservoir but the fact that Calao 1 is an infill between Indico and Anguila and they state this about Calao 1 tells you a lot:

"On a simple structural basis, the Company estimates potential resources at Calao of between 2 and 7 mmbo. However, given the results at Indico-1, which indicate the potential for combination trapping, the Company believes potential resources may be significantly higher"

[sogoesit] 07/1/2019 06:34

Connection between Mariposa and Indico-1, by well testing, would involve a so-called “interference test” between the two wells.
As kaos indicates a decision about this would revolve around the amount of time for draw-down in one well to be “felt” in the second well. And this, in turn, would depend on the pressure transmissibility between the two dependent on reservoir and fluid characteristics (mainly permeability & viscosity of the oil - higher API, lower viscosity, better, “quicker”; transmissibility etc).
The success of such a test would be hindered by any structural or stratigraphic barriers between the wells and the likelihood of those barriers dependent on confidence in their sub-surface mapping for a decision (continuity, heterogeneity). With only 2 wells as sample points so far this confidence is unlikely to be high (but I have no knowledge of what the seismic “visibility221; of this package of sand would be on the maps).
The wordings of the 02 January RNS indicate that the better evaluation strategy would be to drill-up, and conventionally production test, the other wells in this sand package’s play fairway. This would especially be a preference for AMER as any interference test involving shut-in would adversely affect its production revenue albeit that at 30% WI it doesn’t have a say.
Hope this helps.

[podgyted] 07/1/2019 01:07

What about a triple whammy with increased production for Q4 - or could the news just possibly reduce it to a single whammy.

People getting too carried away - personally love the news - paid for Xmas/New year - actually probably for a few - but stay at least a bit grounded folks.

All this activity on Sat/Sun when there are normally very few/no posts 'cos ONGC reported the news a few days later than AMER - I'm aware significant means a bit more in the ONGC context - but the data (hopefully along the lines of the hype) needs time to be confirmed.

Deep breath - slow steady rises from here.

GLAH

[dan de lion] 06/1/2019 23:55

The potential of a "double whammy" is the fact that the price of oil appears to be recovering as well.

[charlieeee] 06/1/2019 23:33

The importance of CPO-5 was acknowledged in the ONGC chairman's farewell address in the following terms

"The CPO-5 success could establish OVL as a credible overseas Operator"

That was said back in October, before Indico. For it to be singled out in that way, to be of such significance to an operator the size of OVL does mean that it is a major find and propels AMER into a different league. A repeat of the Emerald Energy story for JW?

hxxp://www.ongcvidesh.com/wp-content/uploads/2018/09/Farewell-Message.pdf

[lucyp00p] 06/1/2019 22:58

........and Shell, BP, Repsol etc. But they probably had Xmas and New Year off, so will miss the surge tomorrow and be required to adjust their appraisal accordingly. Nice to hear from you Tony. I'm not a critic of chartists per se, but we've just doubled in 7 weeks and if you show me a chart that predicted that then I will do the long room walk of shame. Amerisur has not been conventionally priced since RH started his war, and to apply logic to the price and extrapolate forecast movements was ridiculous. I believe one analyst said they were going to buy at 9p recently. Well, I doubt they'll be doing that in a hurry unless we have a rights issue.

[d1nga] 06/1/2019 22:22

Lets not forget though whether it is contiguous or not this is a major find and the share is still CHEAP AS CHIPS at 20p
No doubt ONGC and OXY. Are running the numbers now at likely takeover costs.