Amerisur Resources Share Discussion Threads

[avsome1968] 22/1/2019 09:45

Price levelled out now news could be out this week on calao-1 spud also further rigs to be confirmed lots to look forward too expect price to steadily move up over the coming month.

[knackers] 22/1/2019 09:42

Tyler hear you, but it's the relative scale I'm referring to. We now know CPO5 is big and high quality, but in the next 3 months or thereabouts, we'll begin to better understand just HOW big. We're simply not comparing apples with apples. The game has now changed.

NB Re Platanillo, look again where it sits - central in Puts. The OBA is there for good reason, Plat's P1 & P2 and production was certainly not the only consideration. Platanillo is simply not going to move the SP, but it has done the job (and will continue to do the job) of providing solid, base production and keeping cash flow positive, as will be clear (IMHO) in FY18 results.

FWIW I've bought into this update. I firmly believe there's more to come - much more...

[tyler durden1] 22/1/2019 09:33

Incidentally, production isn't topped up by the oil held back in storage as far as I know, because its still counted as production, even if its unsold. So the production included oil pumped to storage, unless anyone knows different.

It can't be waxing up at such short intervals, as otherwise it would have been known when the wells were first producing.

When someone suggested problems with platanillo some time ago referencing water cut, it was allegedly denied by Amerisur, saying they were taken off line because of low oil prices, which now seems impossible with problems now being reported to explain the low production.

[swerves1] 22/1/2019 09:30

So should be another nice RNS very soon to confirm the spudding in Calao-1!

JW: "Calao-1, targeting a structure alongside Indico to the southwest, towards the Aguila structure which is expected to spud before the end of January 2019"

[tyler durden1] 22/1/2019 09:27

Knackers. I don't buy your idea that Plat is now a sideshow. That might suit the BoD, but it doesn't alter post 16351 and if you are right, gives great concern about the reports of the 'transformational' nature of the pipeline etc etc. etc.

Yes the Occi deal looks good, but do you remember the oil shows at Fenix, considered a dead cert? Who brought that asset in?

I can understand Plat underperforming but when not so long ago a pipeline was mooted to be a transformational event for Amerisur, a pipeline that was enlarged to carry 50,000bopd etc. etc. etc., then you can't ignore that. Just like you can't then ignore the options granted for it, before most people even realised there was a bottleneck anyway, but where ironically we couldn't fill our capacity of the pipeline even with the bottleneck. Questions need to be asked, and proper answers given.

If its the Rex effect still, then I can understand perhaps underplaying our own assets especially if we can't hide the success of ONGC as its operator, but either way, a lot of people bought in and held on the "IMMINENT" and "TRANSFORMATIONAL" events at platanillo, where I'd always been under the impression Amerisur knew how to make it perform with others suggesting they heard it from the horses mouth, even before taking it off Repsol and Ecopetrol.

[knackers] 22/1/2019 09:19

PIs shouldn't understand the significance of this update.

Platanillo, whilst providing base production (3-4k bopd), is now a complete side-show with CPO5 now weighing-in above even most optimistic expectations.

Then we have the OXY blocks and Puts to look forward to, which I have no doubt will add significantly to both reserves and production in 2020 and beyond. What a cracking prospect. But it's the risk reward balance I particularly like.

It may take time for the penny to drop but 25-30p is hardly onerous, that said with the next couple of CPO drills - take your pick on your upper target.

60p this year looks achievable. Possibly more.

[tyler durden1] 22/1/2019 09:18

eggbacon. I hope it is the Rex effect still and it might go some way to hope that Amer are understating their own wholly owned assets and especially plat, where so much damage was done to Amer both in terms of delays, capacity increases to 50,000bopd giving impression of great things to come from Plat. Forecasted big production increases there. Copious options awarded on the pipeline because of its "TRANSFORMATIONAL" effect, then the subsequent delay after delay, then the news that we could only transport 5K through a pipeline designed for 50K, blaming it on Chiritza, then that resolved increasing our potential to 9k, but where we can't get anywhere near 5K for a pipeline that was 'transformational' and where the options granted were transformational but not in a good way.

I really do hope its still Rex causing Amerisur to underplay its own assets, I really do. Otherwise there will need to be radical changes.

[leas1] 22/1/2019 09:17

Egg, some have been following the dumping of his shares and I would have thought the directors knew his position even when it dropped below 3%. Frustrating for now but there is no denying that he has given the pi a great opportunity to buy cheap. Even more so after today's news.

One thing of note, although it is only my perception, prior to Ind-1 his majority holding was being dumped without any consideration of what was happening in the company. Now it seems more measured, selling volume picking up on the back of news. Should get some good PR this week, it's all about looking forward now.

[gersemi] 22/1/2019 09:12

Yeh, you're of course correct.

Message to self - chill the hell out Gersemi....

[eggbaconandbubble] 22/1/2019 09:09

gersemi mate, Calm down!

He WILL run out eventually. It has to be him. Who else than someone with a grudge would be constantly selling with all this good news going on?

[eggbird] 22/1/2019 09:04

How much of an overhang here do you think there is left to clear??

[moneylender] 22/1/2019 09:02

Amerisur Resources Plc (AMER.L) Announced, in its operational and production update for its two core regions of Colombia: CPO-5 in the Llanos basin with ONGC Videsh; and the Putumayo basin with Occidental Andina and other partners, that preliminary results of independent reserves report on CPO-5 indicates gross 2P reserves of 22.7 MMBO at Indico-1X and 2.9 MMBO at Mariposa as at 17 January 2019 Reserves report attributes mean gross prospective resources of 49.3 MMBO to the LS3 play around the Indico and Mariposa discoveries which are the targets of a new upcoming drilling programme.
Indico-1X is currently producing under an extension of the short-term test programme granted by ANH, while the application for Long Term Test is processed.
The well is currently producing in natural flow at approximately 5,130 BOPD with 0.19% water cut over a 46/64" choke.
The Company believes in light of the low operating costs and high price realizations for the light crude produced that economic reserves will be of similar values.
According to McDaniel´s estimates the Indico-1X well alone may recover approximately 5.8 MMBO.
Further, the company and operator Vetra continue to pursue the approval of Ecopetrol in order to drill the Miraparriba-1 well from the Cohembi-2 pad.
The well will target a light oil U and T sand structure defined by 3D seismic. This approval is expected in the first quarter.
The environmental studies required to drill the Bienparado structure, to the west of Platanillo field are now underway.
Additionally, it is planned to acquire a total of 112km2 of 3D seismic data over the Nyctybius prospect in the central part of the block.

[moneylender] 22/1/2019 08:58

Amer tweet

Preliminary results of independent reserves report (assuming conservative production parameters) on #CPO-5 indicates gross 2P reserves of 22.7 MMBO at Indico-1X and 2.9 MMBO at #Mariposa #OOTT #OIL #AMER

[fsawatcher] 22/1/2019 08:57

40p comin in Q4

i jus buy the dips like it sherbet and it make my tonge go fizzi lizzi

i dont ave to post mucho ere coz this jus a tuk it unda pilla jobbo innit

it gonna go stella marcartneys innit

[sogoesit] 22/1/2019 08:54

Post 16332: good point imv.
There appears to be a lack of transparency on platanillo.
Maybe GPRK would also make a better operator?

[tsmith2] 22/1/2019 08:54

Cracking news though

[eggbaconandbubble] 22/1/2019 08:53

gersemi, you took the words out of my mouth!

I just try to imagine the smiles on the faces of those who are gently relieving him of them!

[tsmith2] 22/1/2019 08:52

No he isn't.

[underhill2] 22/1/2019 08:50

Platanillo output is in decline. Thats pretty obvious. Nevertheless a good update and lots more good news to come over the next few years. The muted share price response is in my opinion due to the poor perfrmance at Platanillo

[tyler durden1] 22/1/2019 08:49

Its not just Plat, its most Amer assets not farmed out. JW had best reputation for sniffing out oil in the business, but seems it could be slipping away, unless previous posters were right in their comments that Amerisur would underplay success on their own assets until Rex was off the scene, as they can't underplay ONGC's success? Sounds far fetched, but news flows on Amerisur's own assets do fit.

When the pipeline was first suggested, euphoria at the prospect of a pipeline able to carry 50,000bopd and increased to do it. Then the apparent bottleneck of the Chiritza pumping station was apparently holding it up, even though even at 5000bopd we never filled it. Then it was extended to 9,000bopd on a pipe that can carry 50,000bopd and we are transporting even less through it.

Then today Platanillo performance or more accurately underperformance reported again, with comments about taking other oil to fill the pipeline?

So what the f is going on!

[plentymorefish] 22/1/2019 08:44

So you're happy with what's going on at Platanillo?

[gersemi] 22/1/2019 08:40

It's a great update and Harbour's selling into this morning's buying. That's the core issue here. Harbour is a massive, gargantuan drag on the price

[plentymorefish] 22/1/2019 08:40

Great post RTD!