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[homebrewruss] 25/3/2019 07:44

Yes Lauders, not sure if my wife would be so sympathetic if I said one bank holiday 'sorry gotta write an RNS, those bulletin board folk are waiting on me' :)

[lucyp00p] 25/3/2019 07:40

Perhaps they took a detour and headed for Venezuela

[lauders] 25/3/2019 07:40

I am sure that those more familiar with these things than I will confirm but I doubt there are any bank holidays where drilling is concerned. 24 hours 7 days a week comes to mind. The corporate side of a company (PR department) may be another matter. More likely what is being discussed when bank holidays are mentioned!

[knackers] 25/3/2019 07:26

It certainly DOESN’T take 2 months to drill then P&A and announce a dry well! You defo don’t stop a critical drill because of a bank holiday! Jezzz

[homebrewruss] 25/3/2019 07:08

It's a national holiday in Colombia today apparently which may have a bearing but also ONGC didn't announce the results of Indico until after 2 months so there could still be a further wait.

[tsmith2] 25/3/2019 07:05

still no RNS. What are they waiting for?

[lucyp00p] 25/3/2019 00:56

He also said the N Sands were going to be HUGE. Too much tea interval port methinks.

[lauders] 25/3/2019 00:43

Google translate = MinEnergy Bogotá D.C. March 19, 2019. The average crude production during the month of February was 892,530 barrels a day, which represents an increase of 8.4% compared to the same month of 2018 (823,050 barrels) and a variation of -0, 7% with respect to the previous month (898,965 barrels).

So far this year, crude oil production is 895,748 barrels a day, which means an annual variation of 6.4% compared to the first two months of 2018, when a production of 841,853 barrels a day was registered.

The reduction in oil production in February, compared to the previous month, was mainly due to the drop in production in the fields: Indico (Cabuyaro-Meta, ONGC), Acordionero (San Martin-Cesar, Grantierra), Candelilla (Cabuyaro-Meta, Frontera), Chipirón (Arauquita-Arauca, OXY), Pauto Sur (Yopal-Casanare, Equion), Chichimene (Acacias-Meta, Ecopetrol) and Rubiales (Puerto Gaitán-Meta, Ecopetrol).

I hope this will be an exciting and positive week for AMER and its shareholders. I think it needs to be given the trend of the markets shown when the US closed for business on Friday. No news and a continued weak global market will no doubt lead to further share price pressure. I think we need that good news that most are expecting, this week. Fingers and everything else crossed!

[xxnjr] 25/3/2019 00:09

MinEnergía. Bogotá D.C. 19 de marzo de 2019. La producción promedio de crudo durante el mes de febrero fue de 892.530 barriles promedio día, lo que representa un incremento de 8,4% frente al mismo mes de 2018 (823.050 barriles) y una variación de -0,7% con respecto al mes anterior (898.965 barriles).

En lo corrido del año, la producción de crudo es de 895.748 barriles promedio día, lo que significa una variación anual del 6,4% respecto a los dos primeros meses de 2018, cuando se registró una producción de 841.853 barriles promedio día.

La reducción en la producción de petróleo en febrero, en comparación con el mes anterior, se debió, principalmente, a la caída de producción en los campos: Índico (Cabuyaro-Meta, ONGC), Acordionero (San Martin-Cesar, Grantierra), Candelilla (Cabuyaro-Meta, Frontera), Chipirón (Arauquita-Arauca, OXY), Pauto Sur (Yopal-Casanare, Equion), Chichimene (Acacias-Meta, Ecopetrol) y Rubiales (Puerto Gaitán-Meta, Ecopetrol).

[sji] 24/3/2019 18:42

Imo AMER BOD are more able in deal-making rather than oil production when one looks at their recent history. I wonder why no-one here is mentioning the possibility of AMER selling out their share in CPO-5 at an incredibly high price. Last year (January 2018), in an interview with Malcy, Giles Clark declared that CPO-5 is out of their core holdings in Columbia since it is not in the OBA area. He also indicates that if Indico-1 was successful, as it actually did, there is likely to be a lot of interest for their CPO-5 stake! ( - around 7 mins into the interview) I would not completely rule out this eventuality!

[knackers] 24/3/2019 17:21

I think if AMER thought CPO5 were just a bunch of isolated structures they'd have thought v carefully about exercising their Put-8 option (at $19m). They're going for it and am more convinced than ever we have BIG news in the pipe.

Could well be the evidence from Calao-1 points to a large, contiguous field of highest quality sands covering many km2. Leave aside Pavo, [possibly another cathedral-like structure] as they appraise down-dip [north] towards Mariposa, things could get even more interesting.

[charlieeee] 24/3/2019 16:13

Why would AMER farm out to GTE, when OXY is clearly their partner of choice?

[knackers] 24/3/2019 11:56

@acc74 re yr Surely if someone was buying the price would go up, law of supply and demand?

Not if the tx is on a matched/agreed basis. Almost certainly the case here.

[tyler durden1] 24/3/2019 09:14

They will need the capacity for Put-8. That's the point? if they farmout to GTE who showed they really wanted that extra percentage, GTE would have to pay Amerisur for any oil going through the OBA. GTE are not in a good bargaining position, as Amerisur could point to Occi who would likely be more than happy to join on the Put8, but also have to pay transport costs through OBA.

[jp2011] 24/3/2019 08:46

AMER and GTE are rivals albeit 1:7 in size.Really not convinced they'll ship GTE oil through OBA as they'll need the capacity for Put 8 and the Oxy JV blocks.

[yasrub] 24/3/2019 07:37

I think AMER have been very well positioned strategically by JW. The partners in ONGC and Occi are absolutely massive so if they were to ever be interested in snapping up AMER it could easily be done. GTE in market valuation are currently 3 times the size of AMER so might have aspirations, if I recall correctly EEN with JW has history of positioning wisely.

I like others am eager for the current drill result but there does seem to be a bigger picture, as said before I do not think there is any delay in disclosure, ONGC run this show and drilling and testing takes as long as it takes. Fingers crossed in the short term but the over the next year or so it looks like there are a number of catalysts for AMER.

[tyler durden1] 23/3/2019 22:39

leas1. Quite possible ONGC want to tie up more leases and it would be within FCA rules, as disclosure is not as many might think. It allows a company to not disclose in certain circumstances. (posted on this bb recently).

'Delay is permitted where public disclosure would prejudice a company's "legitimate interests".

Onwards and hopefully upwards, but its not just CPO-5 now, but a very strategic move by Amerisur stealing the toys from GTE from right under the noses.

On this occasion I'd expect Amerisur to tie up with GTE but at a large cost to GTE, and the prospect of transporting crude through the OBA being an additional nice earner for Amerisur.

GTE would have to pay a significant premium to opt in, as Amerisur only have to point out that if GTE aren't willing then the likelihood is Occi will. Both of whom would need to pay transport of oil through the OBA.

[leas1] 23/3/2019 17:10

Yes, gearing up on a big scale. Last tender for security was just for guards. Probably to run alongside the expected Maripisa site. This reads as a regional security contract, as outlined on the map.
Just my opinion but I would think ONGC will try to play things down a little until land acquisition and contract awards are complete.

[astorcourt] 23/3/2019 12:39

Leas 1. good find. I note that one of the contact obligations is to vet 5000 profiles of local workers hired by contractors, also to assist at immigration with expatriates flying in from india.
Wow, that is a lot of manpower, a big operation is underway here.

[bigwavedave] 23/3/2019 09:39

Homebrewruss - thanks for the post.
Nathan Piper has a long history with AMER during his time at RBC as an analyst. Was it he who, notoriously, coined the term "imminently imminent" to describe, in 2014, the start of work on the much-delayed OBA? I cannot remember for sure - but I think it was.
Executive vice president (if that's what EVP stands for) sounds rather pompous. Who is the president of business development and comms?

[leas1] 23/3/2019 09:10

ONGC Videsh website...

I see another tender has been added overnight for the services of a Security
Agency (previous tender was for guards) in the CPO-5 block. For those familiar with the geography of the licence focus seems to be in the municipality of Cabuyaro, Puerto López, and Barranca de Upía. The latter from memory being the current drill pad. The map in section 111 (scope of work) clearly defines the area. In comparison to the last tender asking for guards, there is a clear that the assets in CPO-5 are becoming more valuable

Not sure if the link works but I have posted it over on lse.

hxxp://www.ongcvidesh.com/wp-content/uploads/2019/03/Tenderdoc-Security-Service2019.pdf

[homebrewruss] 23/3/2019 07:30

Amerisur have a new EVP for business development and Comms, Nathan Piper:


Credit to Stockable on LSE.