Amerisur Resources Share Discussion Threads

[tsmith2] 12/3/2019 15:29

Calao-1X will be a directional well, with a planned total measured depth of approximately 11,940 feet, targeting a structure alongside Indico to the southwest, towards the Aguila structure.

On a simple structural basis, the Company estimates potential resources at Calao-1X of between 2 and 9.8 MMBO gross. However, given the results at Indico-1, which indicate the potential for combination trapping, the Company believes potential resources may be significantly higher.

The drilling of Pavo Real-1, which targets a similar structure to Calao adjoining Indico to the northeast, will follow Calao-1X.

[tsmith2] 12/3/2019 15:28

"we thought the oil may have migrated post Brexit"

[thegreatgeraldo] 12/3/2019 15:17

"The drill bit getting stuck was a muisance, on the plus side is the few thousand caraTs of emeralds that have turned up in the cuttings on the shaker..... swings & roundabouts...."

[philwalker36] 12/3/2019 15:03

Sorry a bit delayed, Aunty Floss needed to top up before the news went out.

[bryet] 12/3/2019 14:55

Not everything's turned out bad locals have ended up with unlimited fresh water just need to fit a tap now so they can turn it off.

[lucyp00p] 12/3/2019 14:01

"We found some oil at the bottom of a deep hole. Not sure how much or if it's commercial or prohibitive, but we thought you might like to know."

[tom111] 12/3/2019 13:38

"But if its none commercial" lol

[kaos3] 12/3/2019 12:58

do they have problem how to write a RNS? it is so much of new info due to the success drill that it is very hard to decide what to put in , what to "mention" let alone predict

[plentymorefish] 12/3/2019 12:50

But if it's none commercial, which seems likely, then 12.27

[tsmith2] 12/3/2019 12:17

What price if the combo trap is proved at Calao?

[tsmith2] 12/3/2019 12:12

An inverse H&S is being played out here in charts

[ladeside] 12/3/2019 12:09

The "afternoon action" should indeed be very interesting,at Cheltenham of course !!!

[moneylender] 12/3/2019 12:05

I see the marketing department is in full swing this morning. May it continue for the rest of the year!

[wbecki] 12/3/2019 11:35

"Ole ole"

:)

[lucyp00p] 12/3/2019 11:31

What is Spanish for "You're preaching to the choir Amigo"

[paradores] 12/3/2019 11:05

Saludos amigos!

In all likelihood they’re now completing this well...y todo bien. Too long for it to be dry and too much oil in the next door structures for that to be the case. (Un pequeno milagro!). Rich source rock in abundance, sands excellent and the Llanos fault providing the ‘back wall’, as others have noted.

If the above combo trap is proved at Calao, Pavo is derisked and this could indeed morph into one of the largest and most productive oil fields in Colombia.

[thegreatgeraldo] 12/3/2019 11:05

That's fairly old news about the Llanos 34 block - I mentioned it here some weeks ago

[homebrewruss] 12/3/2019 11:01

More from twitter.
Are they trying to tell us something or maybe their social media person only works on Tuesdays :)
'GeoPark announces that gross operated production in the #Llanos 34 block, located to the north of #AMER’s CPO-5, surpassed the 70,000 bopd milestone #OIL #OOTT'

[thegreatgeraldo] 12/3/2019 11:00

Indeed, V Interesting, Storm Gareth on his way

[tsmith2] 12/3/2019 10:54

Creeping up. Afternoon action I think will be v interesting

[tyler durden1] 12/3/2019 10:26

Aarticle on Shell incorrectly asserts it is already cash positive in shale. Its accounts on p13 of this quarter shows broken down figures illustrating shales were still cashflow negative in 2017, 2018 and are only forecast to be cashflow positive 2019-2021.

Also shows again both Exxon and Chevron are still not cashflow positive.

Chevron started investigating shale in 1940s where with Texaco they owned significant oil shale acreage.

In 1960's a proposal called Project Bronco considered fraccing using nuclear explosions. For an example of US guesstimate, in 1970 US bureau of mines estimated cost of shale oil to be $2.71bbl

Chevron and Texaco commenced shale operations in 1973...so ideas of cashflow positive projections?

Shale already failed previously 1982-1991."Once again, oil shale fell victim to lower petroleum prices. The oil price began to slump in 1981, and starting in late 1981, one by one, the oil shale players folded on their billion-dollar bets, took their losses, and halted efforts at commercial production."

So in a low oil price environment it seems ridiculous that shale is anything other than false economics and a loss leader to subdue world oil prices.

"Over several decades, some of the world's largest oil companies (Amoco, Arco, Chevron, Exxon, Gulf, Phillips, Shell, Sohio, Sunoco, Texaco, Union Oil) had spent billions of dollars to start an oil shale industry in the Green River Formation, the world's largest oil shale resource. But in the end, cheap petroleum prices drove oil shale out of business"


"By contrast, Chevron has said its Permian business won’t become cash-flow positive until next year while Exxon is targeting 2021. Shale has proven to be an easy way to grow production, but returning cash to shareholders has eluded most operators."

Little doubt that the shale euphoria is designed not to produce viable oil, but to suggest a glut and keep oil prices artificially lower.

Now M&A activity is suggested primarily just for the Permian, considered the jewel in the crown of shale, but where very few are cash flow positive.

Conclusion?
With M&A Activity, and big oil trying to take out indebted smaller operators, its highly likely that pressure then will be upwards on oil prices to ensure they become cashflow positive once these majors absorb all the assets from smaller independents.