Amerisur Resources Share Discussion Threads

[podgyted] 21/1/2019 18:19

But still no production update. Every other oiler and miner I have has reported - unprofessional at the least - arrogant more likely. Only other explanation is no-one knows how to use an excel spreadsheet and the abacus is broken.

But I'm used to it.

Presume they had to get IRON out of the way first.

[tom111] 21/1/2019 17:53

VOG excellent investment jonesy,lol

[the drewster] 21/1/2019 17:50

Looking forward to the directional wells and what they might tell us

[tom111] 21/1/2019 17:33

Very low turnover with buys exceeding sells by 350000

[tom111] 21/1/2019 17:24

Cheap as chips

[sogoesit] 21/1/2019 16:41

Yep, I agree...

... insanely undervalued.

[mjones727] 21/1/2019 16:31

-4.2% today

Much further to fall.

Market cap is insane.

[lbrokes] 21/1/2019 13:50

Yes , he/she is in transition.

[swerves1] 21/1/2019 13:50

The Filter button comes in handy sometimes!

[deanroberthunt] 21/1/2019 13:48

the only similarity is they operate in a country beginning with C

[deanroberthunt] 21/1/2019 13:47

it's basically the opposite of VOG....

[deanroberthunt] 21/1/2019 13:46

this company is brimming with cash, has no debt, and generates significant fcf....which will increase after recent well success..

by the way, for everyone here....Miss Jones thinks VOG is significantly undervalued.

[mjones727] 21/1/2019 13:43

drh

What price the next placing here ?

Are the OECD investigating ?

Debt more than market cap ?

LOL

[tyler durden1] 21/1/2019 13:34

But MrJones will get a reply.

Not only was all drilling fully funded already, but a lot of the Capex that was ready to fund drilling isn't even needed now because of Amerisur's very clever farm out to friends giant Occidental, which will no doubt accelerate those assets with Amerisur getting 50% of the finds for virtually diddly squat.

That being only part of the big picture where even CPO-5 is only part of it. Still significant assets for Amerisur to exploit at their choosing, and probably another few deals to be announced.

I doubt very much directors would have all put their hands in their pockets recently if they felt they had a placing in the offing, and where they already had a finance facility for million of dollars that they never needed to use, but where no doubt it would still be available should an opportunity arise.

CPO-5 is already self financing having produced over 1,200,000bbls of oil so far (Amerisur 30% share). Even the new well Indico-1 will likely produce in excess of 4,500bopd but currently choked back to 28/64" while the rig is rigged down, which in all likelihood has been done, so is likely to back on STT at around 4,500bopd and will be also on LTT where oil revenues are still paid.

[lucyp00p] 21/1/2019 13:31

OBC is going nuts

[thegreatgeraldo] 21/1/2019 13:29

Probably on the wrong board, posting about a different company.

[king_baller] 21/1/2019 13:09

Mjones doesn’t deserve a reply to those ludicrous statements. Perhaps before commenting any more they could actually check the accounts, including the cash position. And whilst they’re doing that maybe have a quick google of Occidental and ONGC so they can get up to date. :)

[mjones727] 21/1/2019 12:53

Look at the accounts

[gersemi] 21/1/2019 12:49

Go away ffs. Yer talkin' out of yer rectum

[mjones727] 21/1/2019 12:48

The cash gernated will not fully fund all capex spend. Placing is needed.

[juuunx2] 21/1/2019 12:47

What planet you on? No funding required here self cash generating

[mjones727] 21/1/2019 12:29

drh

What price the next placing here to fund capex spend ?

[tyler durden1] 21/1/2019 09:34

This was the announcement they gave from their own ONGC website. So apologies for posting it en block, but not sure it would give full access otherwise as the site is a bit flaky at times.

ONGC achieves second consecutive success in an onshore well Indico-1X, Colombia

January 6th, 2019
ONGC achieves second consecutive success in an onshore well Indico-1X, Colombia

ONGC Videsh Limited (OVL), the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), the National Oil Company of India has registered a significant discovery of oil in its onshore block CPO-5, Colombia, in Llanos Basin. OVL, which is Operator, holds 70% stake in the block along with its Partner Petrodorado South America S.A. Sucursal (PDSA), Colombia (30%).

The well Indico-1 was spudded on 7th November 2018 and completed the drilling on 15th December 2018. The well Indico-1 encountered Lower Sands (LS-3) of Une Formation (Cretaceous) at a depth of 9833 feet (MD) found to be oil bearing, before terminating the drilling at 10,602 feet (MD) in Paleozoic. The well was successfully logged and found to have 284 feet of gross thickness and 241 feet net pay, single hydrodynamically connected reservoir with no indication of OWC. A 40 ft interval of the upper part of LS-3 reservoir was perforated and completed for production in self-flow. During the test, the well flowed at self-flow rate of appx. 4,000 BOPD at bean size 40/64” and THP of 241 psi with oil of 35.9° API, BS&W – 0.3/0.4% and negligible gas. Currently the Well is under Short Term Testing with multi bean study for further evaluation.

Importantly, OVL had earlier discovered commercial oil of 40° API in LS-3 sands in the well Mariposa-1 in 2017, which is located 6.5 km from Indico-1, and the continuation of same play is confirmed in the recent well. The Company now plans to drill more exploratory wells to chase this important Cretaceous clastic corridor in immediate future. OVL is also embarking on acquiring additional 3D Seismic data to map more drillable prospects in the other sectors of the block.

OVL has a significant presence in Colombian Oil & Gas sector and holds PI in 6 exploratory blocks in addition to a producing 50% joint venture company, Mansarovar Energy Colombia Ltd (MECL).