Amerisur Resources Share Discussion Threads

[bountyhunter] 29/7/2019 10:13

xx I guess it could be a little more than 50m although not far. Perhaps it's a dense jungle in which case the path is now clear lol! My main concern would be ONGC not playing ball but hope that Amer will have people on the ground keeping a watchful eye on this important mobilisation and drill. I guess we should see a spudding RNS within about 30 days.

I have a crazy vision of spies in the surrounding undergrowth with binoculars given the circumstances! 😉

[dan de lion] 29/7/2019 10:09

AMER`s share of 253 bopd is worth a not to be sniffed at over $1.5 million a year.

[nigelpm] 29/7/2019 09:51

You could easily make any bid set at a price with an additional element for any unfinished drilling

[xxnjr] 29/7/2019 09:49

sorry bh - don't understand your Q.
2nd well Calao was a directional drill from same pad targeting a different structure, but am assuming the rig moved about 50m (or more?) for 2nd spud.

[xxnjr] 29/7/2019 09:43

JW is more shoot from the hip wildcatter, whereas ONGC are more process driven.

I mean JW just wanted to plonk a well somewhere(without 3D) to test the Geopark LL34 play extension into CPO-5. ONGC decided it was better to shoot the 3D first. The exploration focus may move onto this play next year. Geopark must be a contender for CPO-5 assuming they think LL34 play doesn't stop at the block boundary.

[tyler durden1] 29/7/2019 09:41

It really is right out of Amerisur's own tactics if you look back

ONGC likely knew of Indonesian backed approach to Amerisur as they are also in business with Indonesia's Pertamina Indonesia State Owned Oil Company, who just coincidentally effectively own the bidder Maurel & Prom!

So what better strategy or just coincidence, well fail after such good initial results, then begrudgingly just small output with higher water cut.

A word in the ear of someone to initiate a low ball bid...Hey presto

ONGC come in and offer to take it off our hands for more than the pitiful bid.

Wonder of wonders after any bid CPO-5 turns into a cracker and even redialling similar location of failed drill suddenly finds oil? Textbook Amerisur

[bountyhunter] 29/7/2019 09:35

That occurred to me as well, it will be very suspicious if ONGC encounter any mechanical problems at this time! But surely Amer will be watching like a hawk?

[tyler durden1] 29/7/2019 09:33

Dah bunkum

are ONGCtrying same trick Amerisur used with Repsol?

Wonder whether previous 'failed' drill was failed or a deliberate as it follows exactly the Amerisur tactics with Repsol and Ecopetrol

Even latest news about water contact is right out of the Amerisur strategy book.

Much easier to keep the price down for ONGC if perception of failing one drill and being perhaps off target with the next with 5% water cut, almost mirror image of Amerisur's strategy

[bountyhunter] 29/7/2019 09:29

xx - sorry I missed the obvious, but practice makes perfect lol! 😉
(I mean on the move!)

...but wouldn't it be quicker to drill that extra 50m or so from the existing pad, or can the rig only handle vertical drills?

[leas1] 29/7/2019 09:29

I think ONGC not having shareholders to answer to, are focused on putting in the infrastructure as their priority before ramping up any drill campaign.

[xxnjr] 29/7/2019 09:29

in short,
30 days to move rig as little as 50m!

(unless other reasons were involved)

[bountyhunter] 29/7/2019 09:20

Cheers xx although not got time to read all that at the moment due to other priorities!

[xxnjr] 29/7/2019 09:11

bh see




that was for a rig move on the same pad.

[dayway123] 29/7/2019 09:10

Sji goes without saying, but they still won’t get it any cheaper. Amer negotiators aren’t stupid.

[avsome1968] 29/7/2019 09:08

I Personally think we won't get to see the results of the Indico- 2 result, its pretty nailed on its going to add significant mount of revenue.

The CPO-5 drilling program continues with the Indico-2 appraisal well, once the rig arrives from the Sol location. The Indico field was discovered in December 2018 where the Indico-1 discovery well found 283 feet gross, 209 feet net oil column in the LS3 sands and no indication of an Oil-Water-Contact (OWC). The objective of Indico-2 includes increasing production and to test the extent of the OWC to better define field reserves (22.7 MMBO 2P gross reserves announced 22 January 2019

John Wardle, CEO of Amerisur Resources said:
"As anticipated, the Sol-1 test results reflect a modest discovery. We now look forward to drilling the Indico-2 appraisal well that has the potential to transform Indico reserves as it tests the extent of the oil-water-contact".

ONGC, OXY will no what sought of value J Wardle Giles want for the company as a whole, with AMER share price static for so long great opportunity to get Amer at a bargain price before further results that add more value just need a firm offer mid twenties then it will get interesting, but can't see a 25p being accepted either by Giles and CO why would they take that when they can carry on plodding with no pressure plenty of cash great partners adding more value over the coming years would have to be 30p plus for them to part with Amer

[sharesure4] 29/7/2019 09:06

Sji, Amerisur would know as much as ONGC how successful any drilling might prove to be so probably ONGC trying to pull off a quick deal or hide any material information would be difficult to achieve. Set against the risk of losing out to a competitor it may not be worth their while even attempting that.

[bountyhunter] 29/7/2019 08:58

On the positive side any sign of oil and ONGC could try to get a closing agreed bid in quickly!

[sji] 29/7/2019 08:54

If ONGC is interested to bid for AMER (and they definitely would be because of CPO-5), it is in their interest to drag their feet for Indico-2 since this would increase the value of AMER!

[bountyhunter] 29/7/2019 08:53

How far is it to Indico-2 from Sol-1? Could be a factor.

[xxnjr] 29/7/2019 08:47

they still have to rig down/move/rig up.
ONGC have been a bit slow doing that on the previous wells.

(basically in the time ONGC do above, Chinese Great Wall Drilling Company can do all of above and drill a well to TD) Maybe the rig is not designed for quick moves.

[dayway123] 29/7/2019 08:44

Ashkv. I don’t believe he is a share holder and has other motives. Anyone in the right mind wouldn’t trash their own investment especially when a take over is looming and would want the best possible return at this stage for their investment, which I believe GC will deliver.

[bountyhunter] 29/7/2019 08:33

I thought 3 months was a guess, glad that's now been clarified as less less than 2 months. As I say given it's huge significance at this time an even earlier update on Indico-2 would not surprise me.