It has invariably been the case. The company is highly regarded by those I know invested in it. The tendency is for numerous PI's to take heavy positions, such as the £247.31k buy this morning, and sit back. It is perhaps an exceptional example but serves to point out the quiet approach to investing. Brokers rate the company highly, Barclays advisers being one of them. However, the South American continent and its mineral wealth, yet to be fully exploited, is alien to most people in the UK.
The situation will change in time to come. If you have been following AGM reports, etc in the last 3 years, the level of optimism shown by GC and JW should be noted - the last but one have exhibited a very bullish mood. 2011 was the only year where their mood was subdued. It was an exacting year underlined by Colombian red tape issues and other. The "excitement" is now back.
Every O&G has setbacks along the way, even the good ones. Look at BEH . . . I was very interested at one point. They are going through a very tough phase. The turnaround will come at some point.
In the early days Platanillo was at the exploratory stage. It is now very much under development, particularly in the south, knowledge having been steadily accumulated on the nature of the underlying characteristics.
Paraguay is another real mile-stone. Success on the licence areas is in stark contrast with unending delays in neighbouring countries. E.g. CLON has been in limbo in both Bolivia and Peru with its licence agreements. Their way has been blocked by a persistent political tangle. I expect to see added value attached to AMER next year from the Parana basin region.
I had these at 9p once and sold at 16p. the reason I sold is that GED who also operate in colombia had problems with the infrastructure. AMER obviously not as badly affected and have done very well. thats why i never post here now!
Don't understand why this bb is quiet as there is so much going on and a fair amount of trading. The fundamentals look really good and with the Platanillo 4 being drilled the share price could take another major hike.
To date, I have failed to give sufficient attention to Paraguayan interests, preferring to concentrate on Fenix and Platanillo plus anything else that is going on in Colombia - big mistake but others have probably been equally slow to follow up the vast potential on offer here. It's all on the company website. The presentation gives a pretty good idea of what it is all about. Generally, we think in terms of acreage of licence agreements. In this instance the measurements are in hectares - many thousands of them. Another good starting point is - http://www.pgnrg.com/upstream/paraguay . . . well worth a read and it is easy to see why the BoD have a buzz about them.
Been through all of the RNS's and it looks a great investment. Looking to start investing here next week. Looks like an exiting time with the 8 Platanillo drills (with the 1st being held back to 1500 bopd) and the Paraguayan venture awaiting 3D data. Time to launch HMS Amerisur and set sail for the land of milk and honey.
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