Amerisur Resources Share Discussion Threads

[moneylender] 06/1/2019 13:56

Glad to see the newbies are beginning to realise what us long termers already know!

I keep telling you its an Elephant field.

[podgyted] 06/1/2019 13:23

The hype has started. Lets hope, for once, its at least partially true.

[astorcourt] 06/1/2019 13:18

because its big one this cpo5

[talkman2] 06/1/2019 12:42

Why do you think the BOD loaded up on share purchases last week ?

[swerves1] 06/1/2019 11:23

A comment from the LSE board today:

"I can well understand AMER ( a relatively small company ) describing Indico as a significant discovery BUT for ONGC Videsh Ltd ( A giant of a company with total production close to 200,000 boe per day ) to describe this as a significant discovery should hopefully start to make people see what the true size of CPO-5 could be".

A very valid point I think!

[davwal] 06/1/2019 10:59

OVL held back from opening Mariposa-1 further to allow for interference testing once Indico-1 had been drilled. Therefore they at least thought it was possible for the two holes to be drawing from the same reservoir thus showing a pressure change at Mariposa. They certainly aren’t pouring cold water on that possibility with their language.
But of course we should all be cautious and hold off from placing the order for the Bentley until there is confirmation one way or t’other...

[acv74] 06/1/2019 10:54

If it is one contiguous field then I guess we are talking hundreds of millions of barrels. At $8 per barrel in the ground this could propel us to a huge increase in the share price, even to £1 plus.Does this seem right to those that know more about this kind of thing than I do?

[the drewster] 06/1/2019 10:29

There is nothing on the AMER books for CPO-5 ... reserves updates will hopefully add massively as the drill proves up exactly what is down there.

30% of 100M barrels would be worth the current market cap without any of the other producing assets or cash in hand.

Really exciting year ahead, where the price could easily test all time highs.

[foiledagain] 06/1/2019 09:00

gersemi. I hope you are right but nothing in your post says it contiguous play. In fact the operative word in the post is STRUCTURES plural.

[gersemi] 06/1/2019 07:40

I believe the ONGC official news release to the Indian stock-market was confirmation by ONGC that they have found connectivity between Mariposa and Indico and that this is one continuous play infused with good quality oil

“The initial flow data also support our view of the importance of this play, not just at Indico but also in the surrounding area, extending down to Mariposa and up to the Aguila and then Sol structures.”...Wardle

Why would ONGC make a formal company news release if it was simply a reiteration of the news at Indico-1? That makes no sense.

Let's see how the price reacts on Monday morning.

[astorcourt] 06/1/2019 07:24

how many wells need to be drilled before they can determine if it is one large reservoir?

[moneylender] 06/1/2019 06:13

Some sloppy reporting there by the Indians, 241 net feet is wrong, its the wellhead pressure! As FA says it needs to be contiguous with Mariposa1 to be connected, ie they will notice a pressure drop from one well to the other.

Still, makes for good headlines.

[foiledagain] 06/1/2019 00:06

Don't want to poop on the party, but imo 'continuation of the same play' is not stating its contiguous oil field. It may be, and I hope it is, but a continuation of the same play refers to the geological circumstances found in a number of wells/fields/drills within an area where the same set of geological circumstances apply. Could be individual traps with the same geological circumstances

[gersemi] 05/1/2019 22:40

I love this -

''OVL had earlier discovered commercial oil in the well Mariposa-1 in the block in 2017, which is located 6.5 km from Indico-1, and the continuation of same play is confirmed in the recent well.

The company now plans to drill more exploratory wells to chase this important oil corridor in the immediate future.

OVL is also acquiring additional 3D Seismic data to map more drillable areas in other sectors of the block.''

[gersemi] 05/1/2019 22:34

The formal stock market submission by ONGC to the Indian stock market. I believe this is confirming that both wells are connected in one continuous field...PP above states the same thing...it could be proper value accretive asset for AMER




-

ONGC/CS/SE/2018-19
National Stock Exchange of India Ltd.
Listing Department
Exchange Plaza
Bandra-Kurla
Complex
Bandra (E)
Mumbai - 400 051
Symbol-ONGC;
Series • EQ

SSE Limited
Corporate Relationship Department
Towers
Dalal Street,
Fort Mumbai - 400 001
BSE Security
Code No.-500312

Sub: Press Release w.r.t. Subsidiary company

05.01.2019

We hereby inform that the ONGC Videsh Limited, a wholly-owned subsidiary
of the Company, has achieved second consecutive success in an onshore well lndico-1 X, Colombia. In this regard the enclosed 'Press Release' is being issued. This is for your kind information and record please.
Thanking you,
Yours
faithfully,
For Oil and Natural
Gas Corporation
Ltd.

-

[gersemi] 05/1/2019 20:45

Interesting that ONGC is looking for producing fields in Ecuador to the tune of around 25k bopd. I wonder if AMER is involved in any of this?

[senn1] 05/1/2019 20:45

I would say it's very large and note NO OIL WATER CONTACT !!

[acv74] 05/1/2019 20:41

Seems to suggest the oil is at least 6.5km.I'm not an expert in oil formations, hopefully other people on here are far more knowledgeable, but is this not a vast accumulation which could hold huge quantities of oil?

[gersemi] 05/1/2019 20:33

The question is why is this being reported today as though it's new news? Is it the OFFICIAL confirmation from OVL about the second discovery at CPO-5 and that this is now confirmed as below? We do indeed have a huge discovery on our hands?

'OVL had earlier discovered commercial oil in the well Mariposa-1 in the block in 2017, which is located 6.5 km from Indico-1, and the continuation of same play is confirmed in the recent well.'