. . . Very difficult to tell. Any answer could apply. In this instance my opinion leans to an internal balancing transaction between mm's. I think it is Celticheart who has mm experience, and he could venture more satisfactory reasoning. One point is certain - it hardly disturbed the SP. . . . Not doing any buying at present preferring to wait for yet another euro shakeout. I was on skype to Canada last night, and the view is there is more grief to come . . . who knows.
After analysis of the production test from Platanillo-3, the Company has re-designed the off take programme in the southern part of the field to take into account the exceptional production characteristics of the U sand reservoir encountered. In place of the previous 6 well programme covering the south and intermediate northern prospects, 8 new wells will be initially dedicated to the southern lobe around Platanillo-3 over the coming months with a further 4 wells planned for the northern prospects. This programme is designed to facilitate an optimised drainage of this highly productive area, and ensure a prudent management of this excellent reservoir and will be funded out of operating cash flow and existing cash resources.
Platanillo-3 has been placed on commercial production from the previously reported U sand interval, at a controlled rate of approximately 1,500 BOPD.
Amerisur having struck an exceptional production of oil from Platanillio-3 (they are holding back the oil flow!) is now planning a further 7 wells to explot this excellent reservoir - this is GREAT NEWS and they are fully fundes to start this work this summer - look out for fireworks
Major shareholders approx figures: 198.25m which is 21.6% of issued shares
Rex Harbor 92m Share option scheme 5m Asset Value Investments 47.5m British Empire Securities 28m John Harrison 2.25m John Wardle 8.9m Giles Clarke 10.6m Dick van den Broek 0.4m Graham Steven 2.6m John Pither 1m
I am having a rethink on the growing spectacle of very substantial trades. First, having followed it for two years, I no longer regard guerilla activity as unduly ominous. The Colombian government is determined to crush resistance if only because they are fully behind exploitation of the country's oil and other mineral resources. If memory serves correctly, legal action has been taken against Canadian-based mine explorers, but none against O&G operators. Further, Amerisur management enjoys a very good working relationship with government departments. RBC, unless it has changed, is AMER's Toronto appointee. Afternoon trades seem to be growing in volume and number. Many are likely to be north American orders. Also, it is possible - and therefore misleading - that City fund managers are using AMER for trading purposes on their higher risk portfolios. The large buys, followed by equally heavy sells, are geared for short-term profits only. It should not be treated as a signal to a major, imminent development when they occur.
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