Amerisur Resources Share Discussion Threads

[foiledagain] 01/8/2018 15:20

you can book reserves in Ecuador now.

On new agreements they have switched from the previous service agreements to production sharing agreements as they needed to encourage more oil production.

See Ecuador Official Makes Case for Foreign Oil Investment

[enkeltje28] 01/8/2018 15:09

Moneylender. The agreement is in the form of a contractor, who receives a variable, depending on the oil price, tariff for each barrel produced and has no right to the remaining reserves.

[moneylender] 01/8/2018 12:55

enkeltje28, I am not up to speed with Ecuador, why cant you book any reserves?

[lucyp00p] 01/8/2018 12:49

like football then.

[enkeltje28] 01/8/2018 10:44

The problem with Ecuadorian blocks is you can't book the reserves.

[eddie_yates] 01/8/2018 10:34

Ml I’d love to see an Ecuadorean licence or 3 awarded to Amer, but to be fair they don’t seem to have the resources to deal with the licenses they already have

[ammu12] 01/8/2018 09:48

Money going into aaog. Offer better returns

[moneylender] 01/8/2018 09:11

Ecuadorian licences for new prospects are due to be announced this month. (August)

[davwal] 31/7/2018 19:54

From Amerisur:
Amerisur acquired a 100% working interest in Terecay in March 2017 from Pacific Exploration & Production (now Frontera Energy) and will be Operator. The Terecay block lies between Put-12 and Put-9 and Tacacho.

Regional mapping has been completed, but more seismic data is required to determine if the structural trends coming from Put-13 and Put-14 blocks extend northward to Terecay. The regional seismic processing project commissioned by the Company is expected to assist in prospect definition.



Over and above potential reserve additions, I think the acquisition of Put-12 would enable a pipe connection to the VHR pipeline in Ecuador directly from the east that could also facilitate exports from Teracay and Tacacho blocks, and maybe Put-12. If, and it is an if, Amer can get a foothold on the opposite side of the river in Ecuador even better...
Looks a very good move to me for future business prospects.

[odvod] 31/7/2018 18:24

thank you - good grab - I did not understand the risks. all area in 3 countries have good production record. minor trouble is low API.

I read it as - we will not do much about it but what is a must till a pipeline is built.

what surprises me is they are not predicting 3rd parties OBA pipeline oil shipping prognosis after the capacity upgrade. why? it looks as a perfect business to me. fixed costs are covered, the rest is almost all profit

PUT 14 will be cash flow negative for some time (seizmics review, drilling, testing, pipeline, more drilling...) and hence the market reaction I would say. cash drain for few years. and applying AMER factor it gets to a decade before the field gets into the full swing.

[kaos3] 31/7/2018 17:30

thank you all. I thought somebody would explain guarantee (obligations) in more detail.

btw - I allways liked pipelines. Rockefeller got rich not by drilling.

[foiledagain] 31/7/2018 17:24

this from 2013, so whether JW had his eyes on PUT 14? Who knows, but we have it now.

Dr. John Wardle, Chief Executive commented: 'I am very excited by the result of the Platanillo-1 ST1 sidetrack. To encounter producible oil at that position in the structure augurs well for the size of the eventual recoverable resource in the Platanillo field. Additionally, this great result has significantly de-risked the northern section of Platanillo. Based on our 3D seismic and this well data I am confident we will develop significant reserves volumes in the northern part of the block. Platanillo-10 continues our unbroken 100% commercial success record, with a very good oil column in excellent quality reservoirs and exactly in line with our geological model. I look forward to further success in Platanillo, as we continue to build up our exploration effort into our adjoining Put-12 acreage.'

from previous GPX publication:
PUT-14 Exploration History: Exploration in the area began in the early 1940s, since when over 120 exploration wells have been drilled resulting in the discovery of over forty fields. These contain reserves of over 365 million bbls of
medium to light 23o to 30o API oils and 305 Bcf gas.

[davwal] 31/7/2018 15:55

As a stand-alone field for Gulfsands Put-14 didn't make much sense and they always needed a farm-in or sell on. They didn't get the wider farm-in interest because of its isolated situation. However, as AMER is the next door neighbour it makes perfect strategic sense for Amer to acquire it, and Amer management just didn't blink first.

Gulfsands have a similar situation at Llanos where they never did want to go it alone. They are over a barrel there too and the licence will be moved on eventually - probably for peanuts at most given the potential financial penalties for doing nothing.

[foiledagain] 31/7/2018 15:32

The decided in September 2017 to review their S. American assets.

Still looks good though. Looks even better that Amerisur have prised it off them after they've done some of the work and for zilch. Reminiscent of the Alea situation, where if you look at the GPX presentations it is referenced for PUT 14.

"In Colombia, Gulfsands has focused on positioning these assets as an attractive standalone South American business. We continue to build a strong and open relationship with Agencia Nacional de Hidrocarburos ("ANH"). This has helped us secure an 18 month extension on LLA-50 to May 2018 and we continue dialogue regarding the potential extension on PUT-14 licence which currently is scheduled to expire in November 2017. We believe that with these extensions the licences will be attractive and a worthy platform for a standalone South American business. Technically, the assets continue to be de-risked through ongoing work on both licences and the completion of 170km of seismic reprocessing which has reconfirmed the leads we have seen in the LLA-50 licence. The Group is working hard to find a partner to take the assets forward and has initiated a structured marketing campaign to find such a partner. This could take the form of a conventional farm-out or could involve other structures to allow these assets to move forward as an independent strategy".

[bryet] 31/7/2018 15:30

Nobody loves us and who can blame them!.

[foiledagain] 31/7/2018 15:25

They have obligation to drill 1 exploration well? Looks like the other parts are paid for by GPX. After a well there is no obligation to hold the lease.

GPX got a reset of lease requirements in October 2017

The reset meant that their phase 1 obligations would be allowed to run until 2021.

They just didn't have the dosh. If they hadn't disposed of it, they could have been hit with costs for the other phases. Costs they didn't have.

So as for being concerned at Amerisur exposure, which by the way is ridiculous under the circumstances, there is no more exposure than if Amerisur acquired the lease after Phase 0 anyway, except they have obtained a contribution for phase 1.

That's a really good deal, looks like they have to fund an exploration well. if it hits great if not, well worth the cost in trying having skipped some of the costs in the lead up phases.

<<<<RNS October 2017
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.

[fangorn2] 31/7/2018 15:11

"They took on some obligations probably"

Obligation to do usual seismic / drill I suspect

"Why did they not disclose them in quantitive and qualitive manner?"

Unknown at present surely until an assessment on costs/time frames undertaken?

Just hypothesising tbh as I dont know

[odvod] 31/7/2018 14:09

fan - can only I see the real world nonsense in words

"it has acquired an additional block at nil cost"

that bothers me too.

They took on some obligations probably -

why did they not disclose them in quantitive and qualitive manner ?

prob only us slovenians are thick and do not get it and some more as they sell - something for nothing is too good usually

[fangorn2] 31/7/2018 09:45

".kaos330 Jul '18 - 19:38 - 11255 of 11261
0 0 0
why did gpx pay amer to take PUT 14? on surface makes no sense"

GPX desperate to get rid of its obligations Put side I suspect.
Massive reorganisation going on over there - refocus of Porty to Syria only.

[davwal] 31/7/2018 09:44

FA it occurred to me that Platanillo production had conveniently fallen below the 5000 bopd tax threshold, but no way could I see management risking their relationship with the Colombian Government, and the company's future, by sharp practice. And anyway, the production figure hasn't been trundling along nicely just sub 5k, its bombed.

[lucyp00p] 31/7/2018 09:39

fortunately they don't visit free speculator forums enough to care about what gets posted on here by wolves howling at the moon, pretending to know stuff.

[davwal] 31/7/2018 09:29

Given one of the more recent complaints about Amer has been 'declining resources' with management doing nothing to counter that, it puzzles me that when the company actually announces it has acquired an additional block at nil cost, with obvious potential to add to the reserves, there are further moans about the company adding more land.

Amer management has plenty to answer for, but sometimes they really can't win.
Damned if they do and damned if they don't!

[underhill2] 31/7/2018 08:54

Wrong thread again Tewk

[tewkesbury] 31/7/2018 08:47

Check out Reabold (RBD) small cap with fully funded low risk six well drilling program.