LONDON (Alliance News) - Amerisur Resources PLC Wednesday said the all-important pipeline that will stretch across Ecuador and into Colombia remains on track to be completed on time, and said drilling elsewhere is also progressing.
"The laying of the OBA pipeline is progressing well with the pulling through of the 1.5km section of the pipeline under the Putumayo River from Ecuador into Colombia now complete and integrity tested. We remain on target for completion by the end of May."
Thought target date was April .... Jeez this company is hard work ...
Share price 34p one year ago, today 27.5p. High/low 37/19p
Brent crude prices one year ago $70, today $48 brl. High/Low: $70/31
In May 2015 the company said the pipeline was imminent as it repeated in mid 2014, in late 2014, in early 2015, at the AGM in May 2015 and again in December 2015. Yet still not completed. No wonder the poor share price performance.
Now the pipeline is under construction but no date yet given when oil will flow. No indication of how much oil will be flowing… Read More
Strongly agree but our pipeline is late. Why state clearly 35 day completion timeline in the RNS then miss your own deadline. School boy error which for me is why we are hovering here. I suspect when the news comes we will commence a slow and steady re rate back to 40p or so, only my opinion of course.
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