Amerisur Resources Share Discussion Threads

[enkeltje28] 25/7/2018 13:59

Davwal. They are ex Frontera (Pacific) people.

[davwal] 25/7/2018 11:31

And another 250k chunk sold off...

[fevertreeman] 25/7/2018 10:34

Absolutely take your point about the civil works, weather issues, and pumping station efforts. These were known in April, and yet they still persist with envelope-pushing. Not sure what their advisers are telling them but one would have thought a degree of conservatism around drilling programme given we are over half way through the year would be in order. The implication of a 14 well figure is rapid development and we know that is not the case, so why continually shoot yourself in the foot by grandstanding as they continually do.

[davwal] 25/7/2018 10:27

Assuming New Stratus's takeover of Vetra Energia assets completes this month as proposed, I wonder what impact that will have on drilling PUT-8, because NS appears to bring no direct experience of oilfield operations.

[kaos3] 25/7/2018 10:16

Andrew Bell has many projects, Gavid Lennigas has many project, Colin Bitd has many projects, our boss has several projects too

on average I have been with them all. and not happy. is there a pattern to be avoided?

[lucyp00p] 25/7/2018 10:11

you will also, no doubt have been following the progress of the civil works (weather permitting), partner projects and pumping station developments which, like it or not, dictate the progress of the drilling programme. It would be silly to develop prospects without the economic means to transport the production. We all wish progress was less glacial but if the next RNS said output was 8k bpd and transport costs were up by $60k someone would ask why they didn't wait 2 months to use the pipeline and save $50k per day (or $1.5 million per month) - and it wouldn't just be me.

[fevertreeman] 25/7/2018 09:28

Having been following the debate with interest: irrespective of RH's sell-down, the underlying managerial and operational performance has been abysmal, and the appointment of new NEDs has not tempered the nonsense. At the prelims which were after all only 3 months ago, they stated categorically in the Outlook "Up to 14 fully funded exploration and development wells planned for 2018" …..What arrant nonsense, as they know full well (no pun intended0 that they could pick any old figure and even if they drill just one they are covered by the statement.

[lucyp00p] 25/7/2018 08:58

agree Boat, however if I applied "persistent negative nonsense" to my filter I'd see very few posts here.

[boatman123] 25/7/2018 08:55

I've clicked ignore user on him , can't stand that constant negative miserable attitude anymore ffs !

[foiledagain] 25/7/2018 08:45

Ken. Don't want to burst your bubble but production went UP last month.

[bountyhunter] 25/7/2018 08:39

that depends on the size of the discovery

[ken chung] 25/7/2018 08:14

Declining production so all a new discovery would do now is help them to stand still. Oh well, supports the lifestyle managers for a bit longer and the next Placing will begin the rinse and repeat process all over again.

[charlieeee] 24/7/2018 23:46

You refer to the Core Finance interview (by the fat one)on 30th January 2018.

At approx. 18 minutes, GC talks of the new appointees to the BOD

On Dana
A hightly experienced Canadian
Ran Gran Tierra
Very difficult to find people who have significant oil experience in Colombia
He's quite a rare bird
He's been very beneficial
Dana has the experience to challenge the CEO and what he's up to (said with wry smile)

Alex Snow, who is a well know city figure, felt that a substantial figure was needed and he is well capable of carrying out a robust debate.

I should have followed through on my instinct at the AGM when the whole board looked sullen. Had the penny just dropped on the wrecked time table and wrecked targets? Not good news to take back to the city chums and bad for reputations?

One can only hope that the thumb screws have been tightened: someone needs to get out to Colombia and check progress on the ground: a plane ticket for Dana might be money well spent, unless, of course, he is best buddy with JW.

Let us hope that August is the month in which the company delivers on some of those promises: ever the optimist, will the rigs, like buses all arrive together?

[davwal] 24/7/2018 20:00

Charlieeee - with regard to your views concerning JW, I recall GC saying in an interview last year, perhaps indiscreetly, that Dana Coffield would henceforth provide the Board with corroboration or a counter view of whatever JW proposed/did.
Based on what’s gone on since, it could perhaps be argued that Coffield has not been a resounding success in that element of his remit...

[charlieeee] 24/7/2018 17:17

Perhaps selling his holding?

Today's RNS was certainly one to raise the question of jamorrow and I can't imagine that RH would be the only one thinking of cutting his losses: Motley Fool was recommending sell yesterday and it could just have been some of his followers: no-one knows, unless they are insiders.

I certainly felt no temptation to top up on a promise from this lot and commiserations to anyone who has to sell at such a miserable point: it could all change so quickly if they could get their act together.....if!

[underhill2] 24/7/2018 17:14

There is nothing to say. The current share price says it all

[moneylender] 24/7/2018 16:58

Sleeping off his hangover.

[juuunx2] 24/7/2018 16:54

Lucypoop appears unavailable for comment at this time.....

[foiledagain] 24/7/2018 16:26

Don't worry though as Rex has magic shares to dispose of. They don't affect the share price (tic)

[underhill2] 24/7/2018 16:20

Looks like Rex has had enough of jam tomorrow and is happy to get out at any price.

[boris cobaka] 24/7/2018 16:10

Has the smell of a stinky harbour…

The good news is perhaps he's now realized he's not going to get top $ for the remainder of his dumpathon.

[charlieeee] 24/7/2018 16:10

FA

You will have your legs crossed till the Day of Judgement waiting on an RH RNS, so good luck on that.

On reflection, what becomes clear about Amer is this gulf between perception and truth.

It is a company in denial of just how bad its performance has been and that is underpinned by nonsense such as the award of share options.

At the AGM they could not give a straight answer to the question as to what had trashed the share price: GC, the only one to respond was wittering on about the disposal of 107 million share by RH over the last 12 months: he did not even know that the actual disposal in that time period was only 30m: plain ignorant and no-one corrected his error.

How simple was it to say

Pad 2N petered out with the last couple of wells being non events
Reserves down
Production decreasing
Delay in the Q1 drilling campaign

Identifying the problem is the first step to the solution.

In my opinion, they already have a sufficient land bank and they need to get the environmentals on track and on time (and nothing should go in the drilling schedule until permissions are granted: that applied to Pintadillo and still applies to Put 9 and 12)and the correct manpower needs to be allocated to deliver that aspect.

Production and exploration are separate operations: they need double manpower and adequate rigs.

Basically, we need more staff at lower cost: paying multiples of the going rate does not mean that any individual can cope well with the workload of three.

This should come good, but it has taken far too long and that is down to excess multi tasking by JW, who is quite chaotic.

[foiledagain] 24/7/2018 16:07

Buts its OK 3x750k offloaded has no impact on the share price (tic)

[juuunx2] 24/7/2018 15:58

Another 3x750k offloaded I wonder who???