Amerisur Resources Share Discussion Threads

[fadilz] 06/1/2019 22:15

gersemi, you are jumping to unwarranted conclusions, as others have tried to tell you.

Read this, and perhaps you will understand: In geology, a petroleum play, or simply a play, is a group of oil fields or prospects in the same region that are controlled by the same set of geological circumstances.[1] The term is widely and heavily used in the entire realm of exploitation of hydrocarbon-based resources.


In other words 'continuation of the same play' means that Indico-1 is a field of the same type as Mariposa-1. No proof yet that the are connected. They may be, and the purpose of the next few wells is to find out.

Exciting, yes - but let's not get over excited, yet!

[gersemi] 06/1/2019 21:43

Thanks to BigBiteNow on LSE:

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RE: Double the size of Mariposa-1 (Today 20:44)

With all due respect they can call it Indico, Indigo or even Indiana Jones, but what is most important is the sheer scale of what this discovery means for what is to come.

For all the hesitancy that still exists here due to past failings by the company, Indico-1 has delivered beyond everybody's dreams. Not just because it's the largest net pay column in the whole of the Llanos basin. Nor because it's in a block that simply dwarfs the neighbouring prolific Llanos 34.

It is because even without further drilling and proof, the fact that a 209ft net oil column sits 6.5km from Mariposa 1 (which itself has a 120ft column of oil with a connection the company has repeatedly hinted exists between the two), means there is no chance they have located the full extremities of the field. So whether it be Sol-1 or another location somewhere in between or indeed further away, there is still much more to come and with it a multitude of additional wells running through the entire find.

This is a very large oil discovery, it's a game changer and the true value hasn't even started to be recognised. One doesn't need to be an oil guru to recognise a winner when one sees it, and that's certainly what this is right now.

-

You can almost taste the upside

[bountyhunter] 06/1/2019 21:17

I would say things are looking pretty good for tomorrow.
Anyone else here wondered if we could be swallowed up by ONGC at some point in the future?

[gersemi] 06/1/2019 20:43

'OVL had earlier discovered commercial oil of 40-degree API in LS-3 sands 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.'

'continuation of same play IS CONFIRMED in the recent well (I-1)'......

The CONFIRMATION that the play (LS-3) is continuous is the reason ONGC submitted an official communique to the Indian Stock Exchange...

It's a big whopping discovery with huge upside...I'm no geologist, indeed I'm no nothing but do you need to be? The news is either obviously positive or decidedly negative with the predictable consequences associated with either outcome : good news = price rise. bad news = price fall. It ain't rocket science

[kaos3] 06/1/2019 20:36

I hope they will change their reporting manner. more relevant data, more info on unfulfilled promises, more details on cash management, selling contracts, long term contracts, Ecuador fields prospects .... divi prospects

Did they decrease their own drilling to protect the cash for what is (was) coming? as it was bellow decent what was happening - but they could not spell it out?

[moneylender] 06/1/2019 20:09

Think Iscrean moved over to PANR not sure about Kelly tho.

[foiledagain] 06/1/2019 18:30

gersemi. So many suggesting its continuous, but without it being seen as boast, was probably the earliest to moot the possibility, but it still remains a possibility rather than fact.

Its good news that they have a significant discovery, which was the term used for the original Mariposa well too, but if it were one field then yes, mega bucks, but using the terms structures plural does not suggest that at present. Everything to play for though, as even if its not continuous if significant finds in separate locations its not a bad second prize but of course we'd all prefer megabucks

[gersemi] 06/1/2019 18:05

Tradesmarter - That's brilliant and bullish analysis...I enjoy technical analysis as I believe it plays an important role in the investing puzzle..thanks for your efforts

[tradesmarter] 06/1/2019 17:57

Purely technical, but the news continues to be soo money supermarket "in the higher banding" and 22-26p is where first stop is next me thinks. MEGA support at 16p should now be raised to the 18.5-19p zone and immediate overhead resistance is 22-26p. However when you look at the bigger picture 5 year monthly chart, last times we bounced at 9.5-10p support line we had 5 months of gains and next time 7 months of gains. History and trading patterns have a habbit of repeating themselves, so we should be "off to the races" and my 32-36p conservative target looking like that will be halfway house on the move to 60-65p or more. I'm not counting any chickens and at some stage in order to gain 200% there may be a 20% retrace (add) but it pays to look at the bigger timeframe for investing and the shorter targets for adding (or trying to play the game)....lets see what happens but charts show the "increased strength" and that we have only just left basecamp of the mountian peak.

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[gersemi] 06/1/2019 17:56

The ONGC announcement was an official announcement to the Indian Stock Exchange. What exactly was ONGC declaring public that was new and price sensitive information? I believe it was official confirmation that Mariposa and Indico are indeed linked and part of one far larger structure.

[podgyted] 06/1/2019 17:54

Well that would mean they'd finally learnt a lesson - under promise and out perform rather than the opposite which is what they've been doing up until now.

[swerves1] 06/1/2019 17:43

I think the BOD are underplaying this CO5 discovery, after having a look again at the ONGC announcement.
If it's a significant one for a company of ONGC's size, then it must be massive for Amerisur imo!

[knackers] 06/1/2019 17:30

;o)

On yer marks...

[knackers] 06/1/2019 17:22

Frankly, I prefer "transformational" :)

It's already in BIG LETTERS, CPO5 is 'a monster', 'an ogre', 'Shrek's Uncle' etc...

"The early bird gets the worm, but the second mouse gets the cheese."



Think I'm a mouse with 9 lives LOL! and luv cheese ;o)

[mad foetus] 06/1/2019 17:12

Roger Phlegm has been bigging this up on a private chat room, let's hope the thread doesn't descend into mindless ramping.GLA, quietly excited for the week ahead.

[talkman2] 06/1/2019 17:05

Guys , this is BIG.

[xxnjr1] 06/1/2019 16:44

The significance of the ONGC Videsh announcement is the use of the word "significant", as has been stated here, and elsewhere :)

[knackers] 06/1/2019 16:36

Well flagged now that 8,000bopd [net AMER] from CPO5 by Interims is a VERY realistic prospect. Worth just going away for 5 mins and thinking about that....

Notwithstanding frontier risks which are massively mitigated in-and-around the prolific Llanos Basin...40p AMER share price at that time if not well before is still pretty freaking cheap! At that price we still have nil, freaking NIL value attributed to the OXY farm-in. Then there's the cash pile...

Crazy that this share was ~10p only a few weeks ago. Still pinching myself...

Ooouch! ...yup, still alive...thankfully ;o)

[acv74] 06/1/2019 16:29

No tax bill for me if/when this comes good, they're all nicely tucked away in my ISA and SIPP

[lucyp00p] 06/1/2019 15:53

Well retirement for me, but then I haven't had a proper job since 2001 aged 39 so it would be pretty much the same as any other day with a larger tax bill.

[the drewster] 06/1/2019 14:39

Retirement is severely underrated. I left work july this tear, so am "of independent means"

[lucyp00p] 06/1/2019 14:12

Retirement size

[acv74] 06/1/2019 13:59

ML what do u mean by an elephant field, what sort of size is that.