Amerisur Resources Share Discussion Threads

[xxnjr] 17/6/2019 07:33

1/2 true (acq'd op)

plus OXY is a great partner

[juuunx2] 17/6/2019 07:31

They could do with second Rig to get things moving

[rollthedice] 17/6/2019 07:27

20th March RNS was a little misleading as JW stated "The opportunity to increase our working interest and acquire operatorship was very attractive to us"... clearly that wasn't true as they'd already agreed to sell on the additional working interest to Occidental on 18th March.

[fsawatcher] 17/6/2019 07:27

i told yas

as good as dust

it ait no 4mil barrels it 4 ml e barrles

they dress that up and make it sound like pig with lipstick innit

truth is if it woz potentials they drill nuther well there right nows but they runnin back to indicos faster than a thai die red blue top innit

11p today and 10p later

gonna be a slow drift coz indico wont spud till end of july and rsult in sept

drift drift spluft y diff

[xxnjr] 17/6/2019 07:24

PUT-8 was a done deal, as AMER's agreement with OXY (18/3) was inked before AMER exercised right of 1st refusal (20/3), with OXY pre-paying.

[tsmith2] 17/6/2019 07:23

At it again

[rollthedice] 17/6/2019 07:22

Because AMER are in the process of buying it for the same price? This appears to have been the plan from the start, AMER effectively using their first right of refusal on Put-8 on Occidental's behalf. It would have been more transparent if they'd stated that on the first RNS.

[moneylender] 17/6/2019 07:20

Not sure I understand the Put 8 RNS. We sell it for 19M but it will make little difference to free cash?

It cost us more than that!

[lucyp00p] 17/6/2019 07:19

I've seen better news

[rollthedice] 17/6/2019 07:17

So they bought 50% of Put-8 for $19.1m and are selling it for the same price to Occidental? Surely that actually leaves AMER a bit out of pocket because both these transactions would have incurred costs, although they do gain the operatorship.

Sol-1 looks to be a bit of a disappointment, if its commercial at all, but hopefully it'll flow enough to pay for itself.

Neither of these RNS are going to do much for the share price

[yasrub] 17/6/2019 07:14

Like buses this morning - not sure more could be expected from Sol-1 and we are very much in bed with OXY.

[xxnjr] 17/6/2019 07:05

rns's

OXY farm-in to 50% of PUT-8

26.5ft net pay in Sol-1 LS3 +10.5 ft net pay in LS1

[xxnjr] 16/6/2019 19:21

Looking further ahead, and to the east, there are some pretty large pinch out leads for OXY to get their exploration expertise into; for example a 65,000 acre one in Terecay.

[charlieeee] 16/6/2019 17:46

Bidding for these blocks is odd terminology.

What, in fact is happening is that they are future commitments, to exploration and drilling spent and % royalties in the case of a find.

That said, we have so much exploration of our own and hence the farm out, to speed things up, using both OXY's knowledge and their deep pockets.

Put 8, of course, was a special case, a compelling buy because of our adjacent block knowledge and OBA infra structure.

[tyler durden1] 16/6/2019 13:45

With Amerisur it doesn’t matter what they spend as with taking up GTE bound blocks they can astutely farm out for what they paid but keeping a decent free ride

[rollthedice] 16/6/2019 13:01

AMER have got plenty of licences, having more without the cash to progress them doesn't add anything to the investment case.

[yasrub] 16/6/2019 11:14

Based on size AMER surely better off concentrating on what they have - plenty of planned activity. As already mentioned positive there is such demand cannot do any harm to AMER's licences.

[leas1] 16/6/2019 11:13

Not looked in on the bb for a while so apologies if this has already been discussed. ONGC have added a further 2 tender docs in relation to CPO-5 and it is clear that they are focusing on the development of the block. One doc is for Contingency Plan service for oil spillage and the most recent one (note the wording) for 'Hiring of Gas Processing Efficiency System for wells in CPO-5 Block'
The tender doc states one well and one contingent well. I assume this is for Ind-1 but is the contingent well a reference to Sol-1?
ONGC may be slow to update the market (they have no obligation to London Stock Market Rules) but they are certainly keen to develop their assets in Colombia.

I guess the valuation of blocks increase as more oil is discovered. Natural selection I suppose as the smaller oilies get frozen out. AMER could be a very cheap option in acquiring land particularly if those blocks are already in production.

[sji] 16/6/2019 10:18

In my opinion, in this process of bidding and counter-bidding, it is very difficult for AMER to get any new blocks on the cheap - as they did some years ago when they bought blocks from third parties during the period of distress. Given the limited amount of resources they have compared to their rivals, it is better for AMER to bow out of bidding wars with large companies with much stronger financial power. In any case, the higher the bids for the new blocks are, the more valuable AMER's current blocks become!

Interestingly, even ONGC Videsh Ltd seems to have lost out in this bidding process. So they too seem reluctant to pay excessively for their blocks!

[lauders] 16/6/2019 09:55

BWD - From your link it would seem it isn't over for AMER yet: Other qualified companies, which number at least 22, will have access to the offers and can present alternative ones before June 26. The companies that put in the initial best bids will then be able to counter-offer.

The final results of the bidding are expected in mid-July.

We shall see whether AMER join in any bidding battles or continue to hold off!

[the drewster] 16/6/2019 09:45

Must need the cash for directors performance bonuses.

[11_percent] 15/6/2019 13:45

The problem with OXY, as I see it, is that AMER are the Operator......means nothing wgets done.

[xxnjr] 15/6/2019 13:39

Agree N the 14th, tanker stuff all a bit dodgy. As the old adage goes; the first casualty of war, or a proxy war, is the truth!

OXY discovered the 2nd largest on shore field in Colombia.



Looks like OXY are going for more of the same in the heavy oil trend that runs through Teracay and Tacacho.

see