Amerisur Resources Share Discussion Threads

[laptop15] 09/4/2019 07:10

Great set of results, good improvement year on year

[moneylender] 09/4/2019 07:07

Another top up opportunity coming in the days ahead. These results will disappoint

[moneylender] 09/4/2019 07:04

RNS Number : 5121V

Amerisur Resources PLC

09 April 2019

9 April 2019

Amerisur Resources Plc

("Amerisur" or the "Company")

Final Results for the year ended 31 December 2018

Unlocking Potential, Strengthening Value

Highlights:

Financial

-- Strong financial performance in 2018 driven by production growth and higher oil prices, with netbacks of $43/bbl (average realised oil price of $64.8/bbl)

-- Significant revenue growth of 28% to $108.2m (2017: $84.7m)
-- Adjusted EBITDA increased by 72% to $34.0m (2017: $19.8m)
-- Robust cash position of $44.1m* and zero debt (2017: $41.3m)
-- Strong growth in operating profit to $11.0m (2017: $0.3m)
*Includes restricted cash

Production and OBA

-- 2018 average production increased 10% to 5,356 BOPD (100% oil)
-- FY18 OBA throughput average of 4,113 BOPD, with maximum throughput of 6,540 BOPD
-- Average cash transport costs per barrel reduced further to $3.5 (2017: $3.9)
-- Delivery of Chiritza pumping station increasing Amerisur's capacity right within the Petroamazonas pipeline system to a minimum of 9,000 BOPD


Outlook

-- Fully-funded work programme of around $35m, with up to ten exploration and development wells planned across CPO-5 and the Putumayo targeting gross prospective resources of 145 MMBO

-- Wholly owned OBA offers further growth potential with the export of third-party crude expected to begin in the coming months

Giles Clarke, Chairman of Amerisur, commented:

"2018 was a year of great achievement for Amerisur. We increased reserves significantly; we entered into a farm-out agreement with Oxy in the Putumayo, which will deliver a $93.25m exploration and appraisal campaign; we made a discovery at Indico-1X on CPO-5 from which we are now producing, taking the number of producing fields to three; we made a profit and generated free cash flow; and we exited the year in a strong financial position with $44.1 million of cash and no debt.

"The Board looks forward to 2019 full of confidence. Production is growing and we have a fully-funded work programme of up to ten wells across CPO-5 in the Llanos Basin and the Putumayo, targeting 145 MMBO of resources."

[moneylender] 09/4/2019 07:02

Call me synical but it looks like we have more manufactured production, must be time for LTIP awards!!

[sji] 09/4/2019 05:18

Oil going through OBA has shot up again in the last 3 days after a long period with just around 1800-2000bpd:

5th April - 3911 bpd
6th April - 3907 bpd
7th April - 3912 bpd

Assuming Mariposa and Indico are still producing around a further 2400 bpd (for AMER), we are close to the top level of oil production for AMER at the moment.

So now, it would be an excellent time for BOD to publish the final results and say that we are again approaching the 7000 boepd they have been predicting for 18 months! This would alleviate the recent disappointment of the last duster.

[bigwavedave] 09/4/2019 00:22

3900 now going through OBA.

[podgyted] 08/4/2019 19:07

POO going nuts at the mo.

A Tweet from the guy with the bad hair to Saudi immanent?

[bountyhunter] 08/4/2019 18:57

Could be tomorrow then if they like Tuesdays :)

[podgyted] 08/4/2019 18:42

Someone said they'd contacted AMER and confirmed the 9th if memory serves.

But if it's a week later so be it.

[bountyhunter] 08/4/2019 18:30

Results last year were on 16 April

[podgyted] 08/4/2019 18:15

Logic and this share are in different universes.

[tsmith2] 08/4/2019 17:50

I hope they make that known loud and clear. The current share price is just silly

[fsawatcher] 08/4/2019 17:49

i pooped into debenhams and the cosmetic girl said amer results tomorras like it was best antiwrinkle creeme

a wrinky dinky dooos

[moneylender] 08/4/2019 16:56

Yes, I said so!

[sji] 08/4/2019 16:55

Is there something official that results are due tomorrow?

[paradores] 08/4/2019 16:27

Brent will be $75+ within days.
Amerisur production will exceed 6,000bopd within weeks.
Go figure.

[davwal] 08/4/2019 15:56

Looking on the bright side, if the results are pretty good the share price should only drop 10%...

[laptop15] 08/4/2019 10:08

Get ready for director buying again from tomorrow:))

[eddie_yates] 08/4/2019 09:51

When are results and agm folks?

[eddie_yates] 08/4/2019 09:51

When are results and agm folks?

[knackers] 08/4/2019 09:06

Libya - another failed oil state. Risks keep building on the supply side...

2H is going to get tight. Talking of ‘tight’, the problems are mounting in the Permian esp for the independents who are being squeezed out by technical challenges (unable to sustain production) and debt.
Putting it mildly, they’re facing “headwindsR21; and serious doubts of the economic viability of the stimulation approach over any analysis timeframe.

[jotoha2] 08/4/2019 08:41

12p should see a bounce , if not then the floor will be hit again.