Amerisur Resources Share Discussion Threads

[bryet] 30/7/2018 09:48

More chance of hell freezing over!.

[acv74] 30/7/2018 09:46

We have a brilliant strategic position, oodles of oil to drill for, which makes it all the more frustrating that there has been no progress on that front for a very long time.Maybe the rest of 2018 is going to be uber busy but it seems highly unlikely we will get the 14 drills they indicated could happen.

[bryet] 30/7/2018 09:32

Can't say the news has done much for the share price

[charlieeee] 30/7/2018 08:57

At last: an RNS containing no bad news.

At the AGM (it is in that presentation)JW talked about the aspirations to put a second pipeline in for T & T and this presumably will assist that route.

[acv74] 30/7/2018 08:30

Another good deal. We have done some excellent business over recent years.The problem lies in exploitation and implementation of that position.

[lucyp00p] 30/7/2018 08:25

the plan has always been more pioelines

[davwal] 30/7/2018 08:18

ML the wording of this sentence from Wardle suggests a second pipeline (which has been mooted by Amer previously).

“The block has further strategic importance in that it extends south towards the Putumayo river and Ecuadorian border. This brings benefits in terms of accessibility for operations and eventual evacuation of produced crude by providing a pathway to access the pipeline systems of Ecuador, in a similar way to the existing OBA system in our Platanillo field."

[moneylender] 30/7/2018 08:09

Mm's have wide spread so no trades so far, just shows how apathetic the market is towards AMER and our bod in particular.

[moneylender] 30/7/2018 08:05

Davwal I thought of that but our current one has a capacity of 50000 barrels so it will be some time before we reach that milestone.

[davwal] 30/7/2018 08:02

I think they intend building another pipeline routed directly into the Ecuador system, not an extension of the current OBA.

[stur7672] 30/7/2018 08:01

ColombiaIn Colombia, Gulfsands continues to hold a 100% interest in the Putumayo-14 ("PUT-14") and the Llanos-50 ("LLA-50") licences.On 11 October 2017, Gulfsands announced that it had received confirmation from Agencia Nacional de Hidrocarburos ("ANH") that the PUT-14 Licence would return to "Phase 0", meaning that the Company now has the required time to diligently complete the consultation process with the local indigenous communities (the "Consulta Previa") in the Putumayo region. This Consulta Previa is now underway and is expected to be completed in August 2018. On completion of Phase 0, the PUT-14 Licence will enter a 3-year Phase 1 exploration period meaning that the PUT-14 Licence will now run until at least mid-2021. The Company has re-invigorated its farm-out initiative to find a partner for this licence and this initiative is ongoing. While Gulfsands is in discussions with a number of potential parties, no binding agreement has yet been reached with any such partner.

[moneylender] 30/7/2018 08:01

That's gpx OLD rns

[stur7672] 30/7/2018 07:59

11(th) October 2017GULFSANDS PETROLEUM PLCColombia Update - Reset of the Putumayo-14 ContractGulfsands Petroleum plc ("Gulfsands", the "Group" or the "Company" - AIM: GPX), the oil and gas company with activities in Syria, Colombia and Morocco, is pleased to announce a significant reset of its Putumayo-14 Licence ("PUT-14 Licence") in Colombia.Highlights-- Significant reset secured for PUT-14 Licence, such that the time to complete Phase 1 exploration will run to at least mid-2021.-- "Phase 0" reinstated to allow time to continue and complete indigenous community consultation work ("Consulta Previa") before a full 3-year Phase 1 exploration period commences.-- This reset relieves any immediate time constraints for Gulfsands and any incoming partners. -- Commercial terms remain attractive with only a 5% X Factor. -- The Company continues to seek a partner to progress the seismic and drilling programme, now unencumbered by licence term.Managing Director John Bell commented:"This is very significant news for Gulfsands' operations in Colombia. The approval of Phase 0 enables Gulfsands to continue in full compliance with the licence and to plan its strategy for Putumayo-14 without immediate time constraints. We have commenced the very important Consulta Previa work and look forward to attracting a partner to help us move forward the seismic and drilling programme.We believe that the technical potential of the block, together with the current attractive terms of the licence, makes Putumayo-14 a very attractive proposition for an incoming partner."Gulfsands can confirm that it has received confirmation from Agencia Nacional de Hidrocarburos ("ANH") that the PUT-14 Licence will be reset to "Phase 0", meaning that the Company will now have the required time to diligently complete the consultation process with the local indigenous communities (the "Consulta Previa") in the Putumayo region. On completion of Phase 0, the PUT-14 Licence will re-enter a full 3-year Phase 1 exploration period. This means that the PUT-14 Licence will now run until at least mid-2021.The minimum work programme and other commercial terms of the licence remain unchanged, with an initial work programme of 98 km of 2D seismic and the drilling of one exploration well, as well as attractive commercial terms including a low X Factor of 5%.Located in the eastern part of the proven and producing Putumayo-Oriente Basin, the PUT-14 Licence is prospectively positioned within the main play fairway immediately east and up-dip from several proven nearby fields in Colombia, and on-strike with others across the border in Ecuador. These fields all produce from stacked Cretaceous reservoirs including the prolific Villeta Formation. Although the PUT-14 block remains largely unexplored, the existing legacy 2D seismic data clearly shows both structural analogues to some of the producing fields in adjacent blocks, and highly prospective indications of a series of potentially large N-S oriented pinch-out stratigraphic plays that run through the block. These plays are currently known to be the focus of exploration by other operators immediately to the north of Gulfsands' acreage.The position of PUT-14 at the edge of the eastern Putumayo Basin and directly up-dip of producing reservoirs makes it an exciting project that can be quickly de-risked with a new and modern 2D seismic campaign.Gulfsands has commenced the Consulta Preva work on the PUT-14 block and is seeking a partner for the planned seismic and drilling operations. It has engaged the international A&D advisory firm, Envoi, to assist with that partner search process and invites any interested parties to contact them, or the Company directly, for further information.

[juuunx2] 30/7/2018 07:46

Nice to have some good news anyway

[fadilz] 30/7/2018 07:44

Cash is king, and Amer have it

[tsmith2] 30/7/2018 07:39

Not really, AMER just taking full advantage of someone else's woes

[juuunx2] 30/7/2018 07:36

Sounds too good to be true??

[moneylender] 30/7/2018 07:30

Nope you read it correctly.
So it's increased acerage, 3M dollars in the kitty, another route into our oba and all work is far enough down the road so no strain on capex.
Win win, I think.

[fadilz] 30/7/2018 07:29

Gulfsands paying 2.95m unless I mis-read it.

[moneylender] 30/7/2018 07:28

We take on gtx obligations, drill 1 well and some seismic.

[grahamhacker] 30/7/2018 07:25

There's never a free lunch, there must be some obligations or else AMER could just walk away from it and take the Gulfsands money!

[moneylender] 30/7/2018 07:21

Gulfsands pay us 1.7m to take it off them!!! Plus 1.2m towards a consultation with local tribe. Good deal methinks.

[juuunx2] 30/7/2018 07:17

Yes looks like they are capitalising on Gulfsands financial woes. They are delisting from aim if I remember correctly due to having assets in Syria and hence problems. It doesn't say what we are going to pay though or did I miss something?

[rollthedice] 30/7/2018 07:14

A rare RNS which just contains positive news, in this case an acquisition of Put-14 from Gulfsands with no immediate costs to AMER.

[boris cobaka] 27/7/2018 16:45

FA I ain't said anyfink about production.

It's all about rex..... still.