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[knackers] 08/1/2019 16:21

Exciting times at #ECHO too. These two are absolute nuggets for 2019 [DYOR].

[thegreatgeraldo] 08/1/2019 15:04

It's just about doubled from the recent low, it would be surprising if a few weren't banking some profits. Go back over the last years' worth of posts, plenty of very stale bulls who may well be jumping ship.

[knackers] 08/1/2019 14:52

Simply consolidating, all good. Sellers will soon dry-up given pending newsflow against today's paltry valuation. Give it time. If we end the week blue, that'll do me.

[juuunx2] 08/1/2019 14:27

Yes definitely something holding us back or someone. Would be nice to break through towards 25p

[gersemi] 08/1/2019 14:15

20p really is proving a tough nut to crack though we do have some hefty sells being absorbed at decent prices so there's a decent buyer in the market willing to take stock from a determined seller

[juuunx2] 08/1/2019 13:59

You could be right but anything under £1 and I would be disappointed so much potential here now

[wbecki] 08/1/2019 13:52

@Gersemi

I suspect you may be correct - and to be fair, if the premium is decent, most of us wouldnt be to bothered if that's the case.

[moneylender] 08/1/2019 13:36

Keep the research coming gersemi, good stuff.

[knackers] 08/1/2019 13:02

;o) not lost on me leas, think you're on the right track.

[gersemi] 08/1/2019 12:56

I bet AMER is no longer an independent company by end of 2019 -


Cutting India’s dependence on middle-east oil: 60% more oil lifted from Colombia, Ecuador to increase supply too

October 9, 2018 4:09 PM

With the India-Colombia bilateral trade $1.5 bn, India lifted oil close to $ 400 million from January to July this year– an increase of 60% in the same period of the previous year.

Speaking to FE ONLINE, on condition of anonymity, a very senior diplomat said that, “As US imports of Colombian and of other origin continue to decline, impending sanctions on Iran next month, supply constraints of OPEC, India is expected to look at other markets.”

“Imports of oil from Colombia and Ecuador will go up substantially in the coming months,” the senior diplomat added.

India has been looking at other countries for its energy security due to impending second round of US sanctions in November targeting Iran’s energy sector, and political unrest in South American nation Venezuela.

India has been gradually planning to increase the crude imports from Latin American nations to 50% over the next few years, sources confirmed to FE ONLINE.

There are four areas of cooperation in the oil sector identified by oil companies of both countries which cover: exploration and production of oil; activities of refining, processing and purification of hydrocarbons; and looking for more oil in the country.

ONGC Videsh has operations in the Llanos field in Colombia’s Orinoco and explored five wells. The same company owns 50% of the Mansarovar, in a joint venture with the Chinese company Sinopec, in the region of Magdalena Medio.

During the last week’s visit of Minister of State for External Affairs, Gen VK Singh (Retd) to Colombia, it was decided that the Joint Study for negotiating Partial Scope Agreement to enhance bilateral trade will be finalised soon between the two countries.

The two countries are seeking for expansion of bilateral trade and investment in areas including IT, pharmaceuticals, automobiles, agriculture, urban planning & development, and Start ups.

India and Colombia in 2019 will be celebrating 60 years of establishment of diplomatic relations and decided that this historic milestone be celebrated in a befitting manner.

As reported by FE earlier, ONGC Videsh has discovered hydrocarbon reserves in its Mariposa-1 well, which is under drilling in CPO-5 block of Colombia. Also, Ecuador has inked a confidentiality agreement with ONGC Videsh and has been in discussion about the new blocks available in that country.

The Indian company which is already present in Colombia is exploring the possibility of expanding their footprints in Ecuador and has been looking at buying a stake in oil fields there. ONGC is looking for fields with a minimum 25,000 barrels per day of oil production.

-

[leas1] 08/1/2019 12:41

Knackers, I was making a reference to India making investments in Columbia and their strategy to increase their reserves. ONGC's investors relations page makes interesting reading.

[knackers] 08/1/2019 12:29

India, whilst a 'slower burn', is a 'China' in-the-making... I've worked in Haryana district on and off over the past 5 years, the development in that time you would not believe!

[avsome1968] 08/1/2019 12:29

Certainly a trend here up first thing then 1 point drop steady build up rest of the day with slight gain wouldn't want to trade this news could be out anytime.

[leas1] 08/1/2019 12:10

Also topped up. Was going to average up yesterday but banking on some consolidation.

Good GDP data coming out of India so can see the Indian Ministry of Oil and Gas wanting to secure reserves. 7.2% growth with no foreseeable decline needs servicing.

[sogoesit] 08/1/2019 12:10

Thanks for the relative depth info, knackers.

[knackers] 08/1/2019 12:05

Indico is up-dip from Mariposa but is clearly a considerably larger oil-bearing zone. Seems to me the interest is as much between these two as the connectivity between Indico and Aguila to the SW. With the imminent Indico follow-on drill they seem to be targeting the 'green' on the seismic relief i.e. the lower-deeper of the LS3 'highs' between Indico and Aguila.

Notwithstanding the net columns encountered at both Mari and Indi, wellhead pressure at both speaks vols. These are clearly large [VERY large) structures in their own right and need to be handled with considerable care and due process. In short, we know these are already significant and not exactly your average/typical finds, indeed they tantalisingly point to something special ;o)

[mad foetus] 08/1/2019 11:57

Topped up, the director buys tell me what I need to know

[kaos3] 08/1/2019 11:50

- imho there can be different API types of the same source as long they are not too different - all being light. sand is like a giant filter - different pore sizes let different viscosity through - denser sand lets through only lighter oil (denser filter). of the same source!


still on the right track. hence talking about traps. important is to find source and migration path(s)

[gersemi] 08/1/2019 11:45

182500 buy at 19.84

The seller(s) still stalking the stock though

[lbrokes] 08/1/2019 11:27

Fingers and toes crossed !

[kaos3] 08/1/2019 11:23

no gas no water yet

[sogoesit] 08/1/2019 11:11

No worries; you are welcome.
On reading about Mariposa I noticed the difference in crude densities but have not posted about this issue. Without transparent information I would be speculating on the issue between Mariposa and Indico.
It is an issue a cognisant petroleum commentator would have noticed very quickly. I'm surprised noone has questioned JW on this issue. But oil&gas people do tend to keep info. tight as much money/opportunity could depend on it. You are right to be "intrigued" ;-)!

[gersemi] 08/1/2019 11:05

Sog - I was intrigued as to why the article chose to emphasis this specific point about light-oil v heavy crude....thanks for the insight - appreciated and thanks

g

[sogoesit] 08/1/2019 10:53

to gersemi:
I am not ultra familiar with the Llanos basin but, in general, if the crude types are different from those producing to the North East (Tigana, Jacana etc.) then this implies that the source and migration history, in CPO-5, is different to that of the crudes in the trend from NE to SW in the North East.
Upside: a new source, migration path gives rise to questions about a new petroleum system which gives rise to higher prospectivity in the region.
Lighter crudes are higher value but, depending on gas content (Gas-Oil-Ratio - GOR), they may be more "cumbersome" to develop (gas flaring, regulatory restrictions and gas useage/evacuation etc.).
If my memory is correct on my reading Mariposa has a lighter oil than Indico (41deg vs 36deg). [That, in itself, could indicate a different accumulation between Indico and Mariposa. Only crude analysis (signature) will tell if this is so).

[NB. This is not to say that the structural geological trend hypothesis NE-SW is not still intact imv].

Edit: if the Mariposa and Indico accumulations are connected however, the crude could be the same based on the assumption (I don't know the mapping) that Mariposa is updip from Indico.