Amerisur Resources Share Discussion Threads

[lucyp00p] 06/12/2018 22:09

Relax, take it easy. I loaded up again today. Hard to see how Brexit chaos will have any effect on drilling holes in South America.

[avsome1968] 06/12/2018 21:07

terrible day on the market won't be many winners today thought we would've had a mini santa's rally this week looks like we need a result on the drill fingers crossed

[3roach] 06/12/2018 19:17

ZzzzZzzzZzzz

[kaos3] 06/12/2018 19:07

excuse me - what solid performance?

[jotoha2] 06/12/2018 16:14

Certainly looking good , solid performance since top men bought , news must be very close .

[juuunx2] 06/12/2018 16:01

Code six...gusher on way :-)

[tsmith2] 06/12/2018 13:36

Thank you mr market

[moneylender] 06/12/2018 10:25

Expanding the 3d seismic in CPO-5. a new tender application shows all the wells, past ,present and future!

[soothsawyer] 05/12/2018 21:45

Come gather 'round Shorters
Wherever you roam
And admit that the SP
Around you have grown
And accept it that soon
You'll be drenched to the bone.
If your time to you
Is worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'.

[avsome1968] 05/12/2018 21:33

Big meeting tomorrow with opec that will be interesting I feel they wont do much maybe a small cut in production Trump won't want a big cut as this will cut Mr Trump ability to up the sanctions on Iran Trump will want opec to stay as they are so he can then hit Iranian oil with proper level of sanctions without sending P0o into the $90 done deal if you ask me opec probably then cut again Q2 so can see oil slightly higher but no fireworks to alter this price dull dull dull next 3/4 months me thinks, good point drill bit still spinning no signs of problems surly a test up to 15P next week before news.

[charlieeee] 05/12/2018 15:17

Caza Was US, AceUK and I know exactly what happened to those who allowed the wool to be pulled over their eyes for too long, by the likes of Malcy.

VanEck should see that the shale industry has been in the costly development phase for far too long and that there is no harvest just round the corner.

[alamaison5] 05/12/2018 14:28

Looks like 12p will be breach this week.
Duster back to 10p.
Strike break 13p to 14p.

[aceuk] 05/12/2018 11:40

Don't see the point of doing ping-pong on it (we can all selectively C&P) as:

“We are seeing a significantly larger drop in activity than we expected, which is leading to a larger drop in pricing than we anticipated,” Patrick Schorn, executive vice president at the Houston- and Paris-based company, said in prepared remarks for an investor presentation. “We continue to see the weakening of the hydraulic fracturing market as temporary, with the expectation of a gradual recovery taking place over the first half of 2019.”

[tyler durden1] 05/12/2018 10:50

Or take the following:

"World’s Largest Oil Services Company CEO Offers Dire Warning for Frackers

As the world’s largest oil services company, Schlumberger has an intimate knowledge of what it takes to produce oil by fracking across the many shale formations currently being drilled.

Its CEO, Paal Kibsgaard, cautioned industry analysts on a recent phone conference, sounding quite like the warning from Clarke in June.

“The well-established market consensus that the Permian can continue to provide 1.5 million barrels per day of annual production growth for the foreseeable future is starting to be called into question,” Kibsgaard said, according to the Financial Times."

Some Fracking CEOs Make Similar Warnings

Schlumberger isn’t in the business of drilling for oil, just supporting the companies that do. So putting forth rosy projections for the future to keep investors engaged isn’t required — like it may be for fracking companies deeply in debt and unable to turn a profit at current production levels. Promises of huge profits in the future are really the only likely reason for anyone to invest in fracking companies.

But even some fracking CEOs don’t believe the optimistic forecasts for the Permian. In Bethany McLean’s excellent new book Saudi America: The Truth About Fracking and How It's Changing the World, she speaks to two of the fracking CEOs who have actually had success in the industry — Bill Thomas and Mark Papa.

Bill Thomas, current CEO of EOG (formerly known as Enron Oil and Gas), one of the few fracking companies making money, tells McLean that in the Permian the “really good rock” is smaller than the industry optimists are saying. This helps explain the surge in child wells where the industry is trying to over-drill what good rock there is.

Thomas goes on to explain to McLean: “The Permian has terrified the world oil market but there are overblown expectations of the Permian.” “Terrified” because if the Permian actually manages to produce 5.7 million barrels per day, it would be producing a higher volume of oil than every country except the U.S., Saudia Arabia, and Russia in 2017.

Oil traders and producers don't like to be surprised and having a new oil supply of that magnitude come out of almost nowhere fits that bill. But as Thomas is warning, those fears may not be fully justified.

Mark Papa is the former CEO of EOG and now runs Centennial Resource Development. Papa actually delivered his less-than-sunny message at the 2018 IHS Markit annual oil industry conference known as CERAweek, but apparently it wasn’t what the audience wanted to hear.

“There are good geological spots in shale plays and weaker geological spots, and a lot of the good geological spots have already been drilled,” Papa explained during a panel discussion.

In Saudi America, McLean reports that Papa had said that by 2020, even in the Permian, the best acreage will have been mostly drilled and he predicted a sizable dropoff in production to follow.

Time Running out for Frackers in Deep Debt

At current oil prices, most fracking companies are losing money while trying to get every last drop out of the known sweet spots in American shale plays. Under these conditions, the industry is having a hard time accepting that what Papa, Thomas, and Kibsgaard are saying could be true. These companies can't hope to pay back their massive debts if the best days of the major shale plays are either in the past or rapidly approaching.

So, who will be right? For nearly a decade, the fracking industry has been promising that profits are just on the horizon, but they have not materialized — not even in the ideal 2016 scenario described by Wood Mackenzie’s Clarke.

Has the industry run out of good rock? In her book, McLean quotes one industry investor, whose words should strike fear into the hearts of those invested in or holding debt for shale companies.

“Our view is that there’s only five years of drilling inventory left in the core,” one prominent investor told McLean, whose book was just published in September 2018. “If I’m OPEC, I would be laughing at shale. In five years, who cares?”



or look at the Schlumberger N.v. conference call Q3 2018 earnings:

The North American production base, which makes up the remaining 20% of global supply, has absorbed close to 70% of the demand growth since 2010, initially supported by the Eagle Ford and Bakken, and more recently by the Permian basin. However, the well-established market consensus that the Permian can continue to provide 1.5 million barrels per day of annual production growth for the foreseeable future is starting to be called into question. In this respect, we do not believe that the temporary off-day constraints are the main issue, as this will largely be addressed within the next 12 to 18 months. Instead, we believe the main challenge in the Permian going forward is more likely to be reservoir and well performance as the rate of in-field drilling continues to accelerate.

At present, our industry has yet to understand how reservoir conditions and well productivity change as we continue to pump billions of gallons of water and billions of pounds of sand into the ground each year. However, what is already clear to us is that unit well performance normalized for lateral length and pounds of proppant pumped is dropping in the Eagle Ford as the percentage of child wells continues to increase. Today, the percentage of child wells drilled in the Eagle Ford has already reached 70%, and in the three-year period since this percentage broke the 50% level, we have seen a steady reduction in unit well productivity.

In the Permian, the percentage of child wells in the Midland Wolfcamp basin has just reached 50%, and we are already starting to see a similar reduction in unit well productivity to that already seen in the Eagle Ford, suggesting that the Permian growth potential could be lower than earlier expected. Therefore, assuming that oil demand will remain robust despite the trade war worries and market concerns around economic weakness in the emerging markets, we believe that the level of EMP investment must increase, both internationally and in North America, first of all to counter the multiyear drop in investments, and second to develop and deploy the new technologies needed to overcome the emerging shale oil production challenges.

[tyler durden1] 05/12/2018 10:45

ace


???


"The North American fracking market -- already expected to be a downer for the holidays -- is turning out to be even worse than expected, according to the world’s biggest oil-service provider.

Schlumberger Ltd. expects sales in the U.S. and Canada to drop 15 percent in the final three months of the year compared with the third quarter, the company said Tuesday. A trio of factors including a plunge in crude prices, exhausted exploration budgets and maxed-out pipelines in America’s busiest field is prompting oil companies to let go of frack crews."

They've downgraded their figures several times.

[aceuk] 05/12/2018 10:22

That is absolutely not what the article said tyler - you need to do some proper research on fracking in The Permian Basin and develop a coherent argument - thus far you have failed.

[tyler durden1] 05/12/2018 07:05

So fracking is dropping like a stone which will exacerbate the legacy declines even further and before too long it will be impossible to even maintain production.

Red queen syndrome takes no prisoners, sooner or later it all comes tumbling down with not enough sweet spots and not enough money to drill more and more wells or in this case not frac them, leaving legacy declines to mount up

[lauders] 05/12/2018 06:26

Unless we have good news re: the drilling you may be able to get more shares much lower tradesmarter! Looks like the US will put the brakes on any continued rise here for a while. Hope I am way off the mark of course and we have good drilling results and continue the recent recovery.

[tradesmarter] 04/12/2018 21:57

free stock charts from uk.advfn.com

[tradesmarter] 04/12/2018 21:54

I've been buying the past few weeks and will keep buying as I think we are worth around 30-35p on the fundamentals and the technicals hint that 32-36p area will be retested in the next 18months. For now 14p is gap resistance and we need to clear 15-16p area for the real bull case to be on, but for me the longer this is held back, the more I can nab at these crazy levels and with recent news and future events I'm as perplexed as anyone why we are at these levels....but best to take advantage whilst the sale period will likely come to an end in January.

free stock charts from uk.advfn.com

[aceuk] 04/12/2018 20:20

That'll be as clear as mud then …. unless you are really clever, unlike me!

[aceuk] 04/12/2018 20:19

Ain't nothin' goin' on but the rent ;-)

[thegreatgeraldo] 04/12/2018 16:11

Bryet
4 Dec '18 - 16:01 - 14459 of 14459
0 0 0
None of it ain't doing anything for the share price

"None of it IS doing anything for the sp" is presumably what you meant.