Amerisur Resources Share Discussion Threads

[charlieeee] 30/1/2019 08:40

Excuse me, Tyler: do some research.

This block has been previously drilled both by ONGC and their predecessor, but no elephants were found, despite the clues.

Kamal 1
Loto
Loto 1

There was no possibility of AMER getting 100% of the block as 100% was acquired by ONGC in a bidding round back in 2008

"This 199,248 hectare block (gross) is located in the Los Llanos basin (Meta Department) and was awarded to ONGC Videsh Ltd. in the 2008 ANH heavy oil bid round. The CPO 5 block is flanked in the North and North West by the recent discoveries in the blocks of Guatiquia (Candelilla Structure) and Corcel".

We got our 30% for peanuts from Petrodorado (plus of course, the tax losses): only 2 of the 5 blocks on offer in the distressed sale were selected by JW (and that is certainly not Clarke's area of expertise).

As far as all the recent deals are concerned, it has to be remembered that JW lives full time in Colombia, rubbing shoulders on a daily basis with the oil world in Bogota and has done so for many decades: whilst the rest of the BOD will obviously give backing and great credibility to JW, he (and his Colombian staff) are on the ground.

We all have to make our own judgement on the companies in which we invest and evaluating the CEO is an important part of that, particularly where the team is small. If I did not rate JW, I would not be invested in AMER.

[tyler durden1] 30/1/2019 08:01

Do you remember how excited Amerisur was over Fenix? 100% dead cert wasn't it?

Where did it come from? How much did we produce?

Have a lot of respect for JW's past successes, and hope he can do the same with Amerisur, but thus far its not been the great success story on Amerisur's assets.

Also remember Val and others alleging JW had told them at AGM meetings and after the meeting, he had the key to unlock platanillo and how to solve problems there and how big that would be? Some punters even used the word 'fairway' about Plat.

[kaos3] 30/1/2019 07:50

FSA - do not completely agree. One has to daily perform ALL different tasks as good as he can. He should not perform some duties only - even if he excels in them ahead of all other humans. nails should be cut, shoes clean. some geniuses forget about that. which usually costs them dear.

As I see JW as a brilliant and pure (imho). his mind gets all the focus on what counts (CPO 5). But there is more to it and it keeps CPO 5 going and should not be forgotten. Not before CPO 5 delivers a lot of free cash flow. And puts the rest into insignificance. I hope to be so in the near future.

Discussing all is allowed - is it not - if it adds - even small can count - do not be too high. For the benefit of the rounded end result - soon and great - all details are important and contribute.

[tyler durden1] 30/1/2019 07:47

Charlie. Nothing in your post shows JW is causally responsible for the success at CPO-5. Its all supposition, and none of it backed up by ONGC.

If he was that certain why didn't Amerisur get the whole of CPO-5 years ago.

ONGC didn't have success at CPO-5 BECAUSE THEY HAD NOT DRILLED IT YET? SO its rather silly to come up with they had no success before they drilled it?

"Once that was out of the way, they, under the influence of JW," who says? JW? "As stated in public" by whom? Amerisur?

"JW and Carlos are said to spend a couple of days a week in the ONGC office"

ARE SAID....by whom? Not seen ONGC say this and in any event perhaps they should spend that time on Amerisur assets. When an asset is successful jumping on to it should not be necessary. They conducted the seismic, they control the drilling, they have their own experts.

JW's drilling experience? Well not a good wicket to bat on that one, as Amerisur's been fraught with problems both in timescale and other problems that don't seem to be affecting other operators close by. He did great with Emerald, but has not blossomed to the extent I expected at Amerisur

Its not good to claim someone else's success as JW because he has the opportunity to do that with Amerisur's assets.

As for how we got the asset, its more likely to be at Giles doorstep.

JW did great things previously, and it may be there is a plan in the offing to get more assets before plat blossoms but its never really blossomed, its been quite a problem.

So as the only asset producing for Amerisur out of all the other assets Amer have fallen down on, and with all the problems on that producing asset, no doubt anyone would want what might be considered by others as stolen valour on someone else's success.

Obviously ONGC will thank all involved, common courtesy, but never seen then claim it was all JW. Their seismic, their drill, their experts with no doubt JW being involved as any 30% owner would.

[gersemi] 30/1/2019 07:39

FSA - Hilarious. Genuinely amusing. PMSL. A modicum of lighthearted banter is always welcome assuming it is lighthearted!

[swerves1] 30/1/2019 06:20

Tgg - it cost only $6m. How Amerisur managed to get this ahead of ONGC I don't know? But what an amazing piece of business by JW/BOD!
Hoping we get an RNS today or tomorrow about CALAO-1 spudding

[podgyted] 30/1/2019 00:24

Just had a chat with Rex - he's still got his shares - in fact he's been adding recently.

Nice boat!

[thegreatgeraldo] 29/1/2019 23:18

tyler durden1
29 Jan '19 - 22:01 - 16679 of 16681
0 0 0
I do think JW should sort out our 100% owned and operated assets. With all the best will in the world HE DID NOT bring CPO-5 to successful conclusion ONGC did. The suggestion he was the driving force

..How did AMER get hold of 30% of CPO-5? What did it cost?

[thegreatgeraldo] 29/1/2019 22:56

0 0 0
SiriusBizness
29 Jan '19 - 20:05 - 16677 of 16680
0 0 0
The only thing that’s going to stop the gradual decline is some good news.

...You can't even understand a simply worded RNS.

[tyler durden1] 29/1/2019 22:01

I do think JW should sort out our 100% owned and operated assets. With all the best will in the world HE DID NOT bring CPO-5 to successful conclusion ONGC did. The suggestion he was the driving force....comes from who? Does ONGC state that?

Didn't he bring Fenix to the table? Platanillo to the table and Paraguay not sure about.

This idea that he is the main driver of CPO-5, not seen anything from ONGC saying that, and he felt as keenly about some of our 100% assets, but sadly not been shown thus far to be that great.

Great guy, great knowledge but his success rate for Amerisur does appear to be slipping. Hope it changes. CPO-5 is great, well done ONGC, well done Amerisur for getting part of it.

Hopefully the farm out will be equally lucrative for Amerisur, but then why don't Amerisur seem to be able to pull the rabbit out of the hat under his jurisdiction on 100% owned assets which seem to have inordinate amount of problems/delays including Plat, along with previous poor cement jobs and what seems trouble on our own assets he has full control of.

[siriusbizness] 29/1/2019 20:05

The only thing that’s going to stop the gradual decline is some good news. I am fully expecting an RNS either tomorrow or Thursday morning on the spud of Calao-1. Would be even betting if they include some other stuff in there too such as work at Plat. I am expecting more news through Feb to line up with JW’s visit to the UK.

[tom111] 29/1/2019 19:54

Hope for a recovery tomorrow and the rots stopped gla

[tom111] 29/1/2019 16:35

Trading almost dried up here waiting for the next news probably just over 2M shares traded

[westmoreland lad] 29/1/2019 15:29

Yep, Brent back over $60

Oil prices advanced Tuesday after the U.S. imposed sanctions on Venezuela's oil industry, potentially further hindering supply in the economically embattled OPEC country.

Edit -- great post charlieeee ! 29 Jan '19 - 12:36 - 16660 of 16673

[tom111] 29/1/2019 15:05

Oil makes a good recovery,every little helps

[tom111] 29/1/2019 14:56

Yes but look at their mkt/cap that's the difference

[tsmith2] 29/1/2019 14:45

Loonies over at AAOG jumping up and down for a 12m find.. clearly they've not seen the numbers here

[avsome1968] 29/1/2019 14:28

If there's no news tomorrow or Thursday I won't be happy.

[kaos3] 29/1/2019 13:51

what can produce cash to cover drilling costs asap? Platinillo and OBA. Goes directly into the bank. We pay our bills with it!
That is why I think it should be taken care of. Future might be different by I always respect and care about the feeding hand !

[gersemi] 29/1/2019 12:58

I don't drink tea. It makes your teeth brown and weak and I have white and strong teeth. Well, I would have if I could find them. Ah, there they are where they always are. In a glass of water, at the side of my bed :)

You can't suck on a Werthers wearing false teeth

[paradores] 29/1/2019 12:57

Fish, you worried about a tiddler of 15% downside? This game not for you. Vamos a ver...

[king_baller] 29/1/2019 12:55

A lot of oil companies are undervalued currently. But I don’t know any others on such an obvious path to a premium take over. (Similarly obvious to Solgold in copper/gold)

Giles Clark in the Evening standard 2017 discussing Amerisur “Small or medium-sized oil companies tend to end up in large oil companies”