Amerisur Resources Share Discussion Threads

[treasure] 02/8/2019 22:04

sji,I may be wrong, so would need to trawl through all the old news etc but I seem to remember last year there was a lot of concern regarding the volume going through the OBA and it turned out that the Colombian government had for whatever reason decided to collect a significant amount of their entitlement in q4. This is not to assume on my part that there has not been an issue with work overs etc but to go from around 5000 per day to the less than 2 thousand would warrant an rns. To that end, others have posted that we on average about 5400 I think I read year to date average against guidance of 5000 to 6000 so for me I have little concern re the OBA. The government take their cut by truck or at least that's what they have done previously, and do not take their bit or sell it etc via the OBA. My concern is only really that we get shafted on the take out price. Cheers.

[4mrb] 02/8/2019 21:43

The market will react when a revised or new offer arrives. Patience is the key.

[sji] 02/8/2019 21:02

dayway123 - I am being realistic. I really hope that I am wrong and we get more than 30p. But I really doubt it at this stage and the big boys appear to agree with me. If there was any smell of getting anything close to 30p, the market would have already reacted. But again, since I am still in, I really hope that I am wrong!

[dayway123] 02/8/2019 20:56

Sji We are now at a milestone, why on earth would you want to sell your shares at 25p your contribution to devaluing your share on this bb is pretty self evident. Couldn’t imagine you negotiating a takeaway never mind takeover. So weak minded.

[xxnjr] 02/8/2019 20:27

True. Nice grammar though.

[dolphin14] 02/8/2019 20:19

Lol, what a pompous git.

[lucyp00p] 02/8/2019 19:41

I wish you'd move on already because wading through your whiney claptrap is doing my head in. The deals concluded by JW and GC, regardless of whether we like them or loathe them are phenomenal. The criticism of the board is mainly relating to communication, certainly not strategic performance, political influence, execution and focus. There is such a collossal amount of brainless hot air being dumped here lately, I would be thrilled if we got any deal over the line, but to suggest 25p is anywhere close to the price we will shake hands and walk away with betrays a level of stupidity you rarely find on informed boards.

[tommygriff] 02/8/2019 19:19

Tony Hayward double dealAcquire Amerisur via his private equity co!Acquire Ironveld via Glencore the company he is chairman of!

[kelotoni] 02/8/2019 18:39

Could be building up stock for the eventual take over. Maybe one of the "suitors" would prefer oil in storage, perhaps to mix with their own, produced elsewhere for example.
Pointless to speculate but a valid discussion point

[sji] 02/8/2019 18:33

treasure - no, it could be that it's only because of the royalty barrels being collected. That would be very good. However, going with the OBA output for the last few months, it would mean that no royalty barrels have been collected for a long time! That would be a bit strange although possible. And then again, if AMER has substantial storage of oil in the field as indicated by management in their FAQs, why would they reduce their OBA output so much to pay for the royalty barrels? Cannot they continue to send output through OBA and pay the royalty barrels from their SUBSTANTIAL on-field reserves? After all, we are still under-utilizing our OBA potential so much, are we?

[xxnjr] 02/8/2019 18:29

Wells do not produce at constant rates. They tend to come on strongly (relatively speaking), and then drop off over a period of time. This can result in a situation where wells are being drilled, or worked on, just to keep a field producing at a fairly constant rate. Last year various issues arose with Platanillo wells, and the fixes undertaken sometimes failed. The company have taken learnings from that, with a wider program of workovers, sidetracks and an infill this year. The company is still within production guidance, and have performed reasonably well so far this year.

[treasure] 02/8/2019 18:21

sji, why do you not think that it is just the royalty barrels that are trucked and not through OBA ? Could you explain why you don't elude to that please. Thanks.

[sji] 02/8/2019 18:18

AndrewByles - I hope that you are right. However, if you check the daily OBA output, there hasn't been a period with such prolonged depressed output for a long time and during such periods (in the early months of this year), we knew that AMER were performing major maintenance works which by now, they should all be completed!

[sji] 02/8/2019 18:13

Quidnunc - Your suggestion that the problems are with the OBA rather than the fields would be even worse! Check out the posts on this BB and you will realize how high value we are all putting on the OBA. If it has been encountering problems since its inception to date, I would not place a very high value on it, would I?

Bountyhunter - Because if you carefully read the last 2 operations updates, you should know:

(1) on 11.06.2019, AMER said that it completed the Plat-26 infill well which was now producing at 710 bopd and that maintenance would be carried out on Plat-22; and

(2) on 29.07.2019, AMER said that it completed the maintenance on Plat-22 which is now in production.

No mention of further maintenance on any Plat fields but the next phase is the drilling of Indico-2.

Unfortunately, the operational performance of our Board in the last few YEARS has been inconsistent and erratic. If one continues to excuse their incompetence in operations, then they do well to compensate themselves without actually achieving anything for private investors!

And don't tell me that they are now promising 5-6,000 bopd for the current year because with 10 new wells drilled this year, such performance is pathetic for me when compared to last year's performance.

I only hope that we can get some reasonable offer for our shares very soon because I want to move on with a little profit after suffering for so long. Originally, I was looking for something in the low 30s but now, I would be more than happy to take 25p for my shares.

[bountyhunter] 02/8/2019 17:58

Good find. That most likely explains the variability so clearly no assumptions of problems should be made based on variable daily throughput figures which are not anticipated to be consistent.

[bountyhunter] 02/8/2019 17:38

sji, how do you know for example that some scheduled maintenance has not been taking place, I don't think you can just assume they have encountered any problems.

[quidnunc] 02/8/2019 17:35

They could but why would they? It's not a plc and doesn't carry the connotations of success so selling a new venture based on that name is batting off the back foot. Unless it's a South African venture but I would suggest that JW's expertise and connections are very much Latin America biased so it would make more sense to apply his skill set there. Q

[quidnunc] 02/8/2019 17:30

No, it's not obvious. Much of the Oba output problems are caused by infrastructure problems along the pipeline. These have been a regular and frustrating feature since the link was put in.To jump from what arrives at the coast to concluding that not enough is coming out of the Wells is alarmist but not logical. Q.

[sji] 02/8/2019 17:22

OBA 01/08 - 1,708 bopd

Given the terrible week we just had with the OBA output (5,032; 3,465; 2,040; 1,961; 1,811; 1,660; 2,371), it is obvious that we have encountered trouble again with the Plat wells

[ladeside] 02/8/2019 15:26

Ironveld just spiked 50% ???

[xxnjr] 02/8/2019 15:05

How could you have missed it!

[lucyp00p] 02/8/2019 14:18

GC and JW don't make that call, we do.

[tommygriff] 02/8/2019 14:15

It maybe a crazy suggestion but do you reckon GC & JW will sell Amerisur.then use Ironveld as shell company, once the vanadium is sold and then reverse in some other oil asset?