Amerisur Resources Share Discussion Threads

[senn1] 05/1/2019 20:25

284ft of net pay homage monday

[senn1] 05/1/2019 20:25

-5

Today 20:04

Very positive news and here's the article in full.



Same bit it's masssivvvve imho

[bryet] 05/1/2019 20:14

Is it or is it not a new find?.

[senn1] 05/1/2019 20:04

RE: CPO-5

Today 19:14

ONGC are operator so this news is encouraging. Amerisur update on Jan 2nd did not use the term 'discovery' as they had to wait for ONGC to decide on whether the short term flow test would support the commercial prognosis.

ONGC now seem happy that Indico-1 is indeed an official oil discovery.

Great news. Next few drills around Indico-1 could be quite sizable if proven to be a 'trap' with no migration.

from LSE FYI

[sogoesit] 05/1/2019 19:56

Yes, AMER's interest of 30% in CPO-5 results from the purchase of Petrodorado SA in June 2015.

[3roach] 05/1/2019 18:42

Surely last weeks news?

[acv74] 05/1/2019 18:37

Just late PR?

[wbecki] 05/1/2019 18:34

Nice find chaps...happy days :)

[napoleon 14th] 05/1/2019 18:19

hxxps://oilprice.com/Energy/Crude-Oil/Falling-Rig-Count-Supports-Crude-Prices.html

[bad gateway] 05/1/2019 18:11

Thanks both, another discovery should help with the assault on 22p.
Still difficult to accept the fact AMER's become such a good news share.
Been a while coming but holding for the ride is paying in spades now.

[the drewster] 05/1/2019 18:01

As yet unquantified

[gersemi] 05/1/2019 17:55

DAFAD - Is that another discovery?

[dafad] 05/1/2019 17:44

:37

Significant discovery of oil in onshore block CPO-5, Colombia, in Llanos Basin.@ongcvideshltd is the operator and holds 70% stake in the block along with its partner #Petrodorado South America S.A. Sucursal (PDSA), #Colombia (30%). #oilandgas

[knackers] 05/1/2019 14:21

FA re yr, "...its just glossed over the need for massive investment in conventional oil reserves throughout the world"

You are spot on. Few have really grappled with the approaching supply crunch better than Wood Mac. hxxps://www.woodmac.com/news/the-edge/the-case-for-investing-more-in-exploration/

"Spend on oil exploration globally has collapsed from US$60 bn p.a. in 2014 to just US$25 bn p.a. in 2018. The drop has fed directly through to significantly lower volumes of reserves discovered."

The world needs more CPO5s, and urgently!

[leas1] 05/1/2019 10:11

Foiled, very good points you make. I noticed that Sellafield nuclear in the UK has cost 121 billion so far to decommission and would guess the US would have moth balled it as their regulations are not as stringent. I don't get the US mentality, a bit like the toxic debt of 2007, we all knew it was coming but most refused to ignore it. I agree, they can bury their heads in the sand for only so long. Or like Trump turn science on it's head and refute global warming..
Shale is uneconomical, even when oil price spikes the maths don't work. Or as the Yanks say 'the math'

[foiledagain] 05/1/2019 09:33

Its madness that so much money has been thrown at shale to give the impression of oil gluts, which will cause a lot of tears further down the line especially to unsecured investors in U.S. shale and by throwing so much money at shale, with in most cases negative cashflow its just glossed over the need for massive investment in conventional oil reserves throughout the world. Its not just about growing demand, there will just not be enough oil produced to keep existing production going and probably why there is so much turmoil in the Middle East, Venezuela as its very coincidental that many of the world troubled regions are oil rich or have strategic pipelines.

Also leas, note in most accounts they allocate tiny amounts for properly decommissioning wells, yet with thousands and thousands of legacy wells, it understates the costs by billions of dollars because they just leave them producing, often then poorly maintained often leaking, because they want to keep the costs off the accounts where properly decommissioning these wells may cost significant sums and with shale it relies on more and more wells often in the thousands of wells just to keep production static.

Also in the U.S. every oil or gas well acquired via acquisition is required by law to be decommissioned at some point, at the end of its 'economic' life, and decommissioning rules applying to other oil and gas wells, but this is being thwarted by continuing to operate uneconomical wells by various means. Each state has rules on decommissioning, but they are often overcome by creative accounting, and even then bonds that are required for decommissioning are ridiculously low, bearing no relationship to cost.

I expect the Fed will have to step back from interest rate rises even though interest rates are still artificially low, and they may even resort to NIRP and ZIRP again to assist shale but one day there will be a massive financial reckoning for the shale 'industry'

[leas1] 05/1/2019 09:20

Foiled, I posted a link earlier in the week in relation to the probability of higher oil prices. Shale being one of the key drivers if it starts to decline. Even after this weeks mini rally in prices, non of them will be making money. Your links suggest that investment is now scaling back in production. Water contamination and cleanup costs only add to their woes.

[foiledagain] 05/1/2019 08:35

Shale starting to wobble and this will impact positively on other companies including Amerisur sooner or later.

[podgyted] 05/1/2019 01:32

Think it will be rather interesting to see what happens when the majority of the city arrives back at its collective desks on Monday.

I have seen or heard of no updates over the Xmas Hols to date.

Our ongoing production is due to be reported on.

[westmoreland lad] 05/1/2019 00:16

avsome1968 -- keep HUMming m8. Safe haven / no dusters imo..


westmoreland lad - 26 Oct 2018 - 09:44:00 - 520 of 648 Hummingbird Resources

Morning Chippers. Added a few myself. As you say ' over reaction '

gl

[tradesmarter] 05/1/2019 00:10

took a "calculated gamble" and traded in and out early doors, bought back in an hour or so after opening spike and now have 12,000 "free" extra shares and a 5.5% daily gain on enlarged holding ,also added a few for the sipp (nothing major). Last few weeks its been an easy one to call, but now it could go anywhere from 16-26 in next few sessions. Personally dont think we go lower than 18p now and think 20-22 to pause before we attack 26p.... I've been convinced a no brainer below 22p, but given the strength of the move and the continued fundamental news and "anticipation" even 26p seems a no brainer...small retracements keep being bought into which is healthy and seems more measured than the usual surge and retrace. Recent additional director buys adding conviction together with more broker views etc...anyway very quick chart from last night (best guess short term)...nothing goes up in a straight line, so I'd welcome a resting period, consolidate so the next move is solid and not a spike and retrace.


free stock charts from uk.advfn.com

[lucyp00p] 04/1/2019 23:50

We must remember to book this time.