Amerisur Resources Share Discussion Threads

[cmackay] 26/5/2017 13:33

My friend fell asleep with his thesaurus covered in honey. When he woke up he had an antonym.

[bigwavedave] 26/5/2017 13:14

tony - in the John Wardle Thesaurus of Antonyms, "minimum" is in danger of ranking alongside "imminent".
My hope is that "effing good result" at Mariposa-1 (or "exciting" as ONGC describe it) proves to be unequivocal.

[rollthedice] 26/5/2017 13:09

Hardly surprising that oilers were hit with the sharp (well a few $pb) drop in poo.

[lucyp00p] 26/5/2017 10:42

Really? Selling shares! I'm shocked, whatever next?

[juuunx2] 26/5/2017 10:36

Is it me or is there still a lot of selling?

[davwal] 25/5/2017 22:59

Thanks. Nice to know some-one is making money out of Amer - must have quite an industry going on there.

[tonyrelaxes] 25/5/2017 21:46

I didn't say "significantly".

2 May RNS said April Peak production was 5,280bopd. Peak OBA throughput was 5,027bopd.
The same RNS refers to future fluctuations due to various factors/circumstances.

During the AGM presentation, JW confirmed all production was now being exported by OBA and nothing is going by truck. Apart from storage volume fluctuations, the disparity between production and throughput was mentioned but glossed over with comments of "theft" (must be somewhat enterprising!).

It was also commented (but I can't find the reference in my notes, so possibly it was in casual conversations afterwards) that since the last figures there has been some reduction from those peaks. By then they would have known figures for over 25% of May and know of planned constraints during the remaining 3 weeks.

Being cynical, I also suspect the April peaks were achieved as a bit of AGM window dressing to avoid shareholder flack.

We shall see, in a few hours over this time next week.

[davwal] 25/5/2017 20:56

Tonyrelaxes, why do you believe production has dropped significantly - at least that being sent through the pipe?

[fadilz] 25/5/2017 19:51

We need an assessment of the northern enclosure: Resources, prognosis for M and N sands, and of course the same for CPO-5. On the back of good numbers for both, we could hit mid-30s - but it all depends!

[tommygriff] 25/5/2017 17:15

The rise was yesterday when the RNS was submitted

[dayway123] 25/5/2017 17:08

Plat 21 although a good result doesn't seem to be very well received, still at 26.5p. Depending on further test results this well I'm sure will add to reserves and future flow rates.

[foiledagain] 25/5/2017 17:04

I queried wording on OBA and was told that the throughput figures were standalone to do with the maximum throughput guaranteed. It was not that cost reductions are dependent on it.

So at 4000 it saves just as it does on 8000 on a per barrel basis. Obviously more u put through more you save overall.

There are of course running costs for the Amerisur's interconnection

[al101uk] 25/5/2017 16:45

The company would appear to concur, This is from the last results:

"The Company is working diligently with Petroamazonas to resolve the restrictions in Ecuador in order to achieve a consistent throughput of 5,000 BOPD..."

Personally I think there is a lot riding on CPO-5.

[tonyrelaxes] 25/5/2017 16:15

O&G and Al
Thanks.

Despite the optimism (and optimisation work!), I believe we are quite a bit below 5,000bopd this month - now the AGM is out of the way.

[lucyp00p] 25/5/2017 16:10

It's badly worded. I think they're saying we aim to extract a minimum of 5kbpd. As long as we can ship 5k bpd through the OBA then cost per barrel falls. If OBA flow is less then we have to truck the leftovers .

[oilandgas1] 25/5/2017 15:37

Yes unfortunately , Cost per barrel reduced opex $27 to $15 only above 5k OBA

See 10apr RNS

Cash opex per barrel produced expected to reduce from approximately $26 to $15 once volumes reach 5,000 BOPD

The other good news due with the OBA monthly update should be about the stemming of the decline rates by treatment

"The Company's optimisation work in the Platanillo field, an organic chemical treatment has been trialled on well Platanillo-8. This well, in a similar manner to some other producing wells, had suffered a decline in production, with a pre-treatment production level of 108 bopd. Following treatment the well is producing approximately 350 bopd in a stable manner. Amerisur is currently considering other candidates for similar treatments, including Platanillo-9, Platanillo-14, Platanillo-12 and Platanillo-5."

[al101uk] 25/5/2017 14:46

The cost reductions for the OBA were based on 5k bopd as far as I remember... we're already benefiting financially from the cost savings of the OBA.

[tonyrelaxes] 25/5/2017 14:34

oil&gas re:1723
"WE ONLY BENEFIT FINANCIALLY from OBA or oil transported above 5kbopd "

The AR of 7 April 2017, page 5 states "The Company has a throughput capacity under current agreements with Petroamazonas of 5,000bopd".

Have I missed something or are you saying we are losing money on present production/export?


Notwithstanding this, the 9 May 2017 AGM Presentation slide 8 is in conflict with the AR, saying "agreed minimum volume 5,000bopd".

[foiledagain] 25/5/2017 12:16

CPO-5 would not need to connect to the Amerisur pipeline, there is ample local infrastructure for that to connect to already with one of the cheapest costs as its in a very prolific oilfield area that has already produced substantial flows for Colombia.

[meneither2] 25/5/2017 12:01

Haha agree tony

[oilandgas1] 25/5/2017 11:57

A continued set of news being communicated ( shocking stunning ( usually BAU norm from most companies) from Amer management).. June is a massive month for Amer:

We are now almost back to the Dec16 share price ( approx 28p & before Amer / GC lost another 6 months) and it might finally kick on now

Likely timetable
02jun: Mariposa-1, in block CPO-5 flow results & plan to Connect to OBA? 30% owned by Amer
05Jun: A monthly OBA pipeline throughout update maybe at 5.2kbopd? WE ONLY BENEFIT FINANCIALLY from OBA or oil transported above 5kbopd ( 7kbpod targeted for this year - as it was last year!, but will happen IMHO )
16jun: Platanillo-21 flow results from Pad 2N
22Jun: Platanillo-25 spud
Jun - sep17: CPO-5: A3 wells x 2
Jun17: pump station news: Roda upgrade one pumping station & new pumping station?
Jun17: Pad5 to pad9 interconnection update

[tom111] 25/5/2017 11:37

the best bit to come yet,very soon

[bryet] 25/5/2017 11:23

All good news so far and more to come I would expect. Can't see a downside in the near future.