Member Info for BaysilHope

My spelling was so bad to reaffirm, example of shared Oil boundaries issues - PMO Zama, even a massive brilliant discovery set in place issues with shared reservoir resources dynamics, with neighbour Pemex gagging on the +$1b barrels find will delay matters + 2 years and involves cost to clarify, worth it in the end, but if avoidable DO IT, we can - as we are on a small scale - PMO couldn't TOO big an issue, also PPC in Paraguay defining and calculating of shared Oil reserves between blocks is a Ball ache and mega potential for litigation and operational distraction - get sucked down a blinder and cost a double whammy and unnecessary management time, a cost and Time Thief. , easier not to have the problem. SO divert some capex NOW and protect the nest with a buffer that also denies the competition access - a double edge sword per se conferring future benefits to Amer at higher POO. . That's what GTE & AMer will be doing for sure behind the curtains and also avoid each other in direct conflict, hiding behind the veil of No RNS Re- Cap sorting out Sur Oriente & Put 8 is in our & GTE interests - just mutual co-op IMO. Last post. GN IMO next 3 years GTE swallows AMER when we've done our bit and in a further 2 - 3 years - Oil Major swallows GTE by 2023 as the critical mass of utilising the 230kbopd OCP free supply route is big enough for a major at $100 POO , but they would need a seamless integrated producing and supply route accessed area with ECU & COL reaching capacity - no Japanese Knotweed legacy issues blighting the deal FFS. GN

Apologies for the typos, trying to get the point across rushed it. GH GLA.

Quick point in the NSE Q2 Lossess $650 3mths cash fll from $560 to $157k, Directors after the period put $300k. I first thought that was fresh cash, but in that period cash flow was eased by a $230k INCREASE in creditors, that will require paying NOW. So IMO thet are out of cash and need a fresh injection. The guys fronting the deal we know, from Pacific Straus we bought Teracy & Tachobell off them, so they're not Alan Sugar. Anyway - news soon and maybe why PUT 8 is on Ice, if we screw too hard a deal we fail. Last point with GTE, the reason I keep on is I've dealt in commercial Land, you don't allow a competitor to thwart your marriage value of access, in this case to potential pipelines and SHARED OIL Reservoirs - that weakens s and blights the portfolio until absolutely last ditch necessary. Note GTE bought a pipeline off Ecopetrol at Santana and Nardine block late 2016 $30m to secure Chaza output. These guys know when to compete and not against each other taking a 5-10 year view hence the short term games to a point. Amer as much as GTE IMO DYOR would look to protect land at their borders unless it was CHevron. Also why didn't we drill the East of PUT 8 right next to our New N Sand civil works, the permit could have gone at the tie of the Brexit vote, but leave it and weaken the Oppo. Only a guess but you woulkd defend you borders in the OPIL game, limit snags operational and territporial. Important case Stokes & Cambridge ransom strip Access. Quote In the UK , a ransom strip refers to a parcel of land needed to access an adjacent property from a public highway, to which the owner is denied access until payment is received. The strip of land can be either between the property and the highway, or be located between two properties. Or pipeline access or other supply resources Water etc even labour , technical supplies and so on. Get some in pushes prices up - Ugly unles we're quasi Non Cpmp partners off Piste. . HNY GN

PLus Petrol are a huge business and even bigger on environment and Cultural inhabitants, they employ 12 in Colombia no production, out of 1500, their main output = Peru, Arg & Bolivia, so a Court case describing PUT 12 on stop for SOCIAL UNFAIRNESS - would go totally against their corporate ethos and I would suggest in time, might divest from BAD PUBLICITY, they have NO financial weakness, so for AMER same end goal exit, but different highway, get em out of PUT 12 FFS . Sorry thats my last GN GLA, Col is a great place to have an active investment instead of all these shorting Twats fanny about for 0.5p depression margin, when we WILL be +200% UP soon than ......... Mega news all fronts soon and core market bullish Supply risk NOW being factoring in to POO at last.

At they end of the day, unless a Oil Block partner can't or WI can convey material value benefit, get rid of them for autonomy and strategic independence, if they have Mega cash, assets, distribution offerings synergy etc etc then walk with it. We are very good at Cuckoo WI's besting habits we get in, frustrate and bingo. Common practice for a sleeping landlord, wait for the opponents patience to collapse and they run out of cash. With PPC they hit Gonzo and that's why they are in Argentina now not Paraguay IMO nothing against the company I'm a fan Of Peter Levine. The key - as in the Art of War - never under estimate the opposition. End. GLA. I could be wrong, I think we can gain from Vetra and Plus Petrol over time, not next week. HNY GLA

Seriously the lead times are long and corporate circumstances change, hence opportunities arise. What made me think here is at the back of Most Amer's presentations, is a partner list and they seem to enjoy, crossing them off, IMO Vetras next then Plus petrol, have a look. They are making a sublime point. But still not drilling marginal areas unless we get 100%. CPO Diff 30%. GLA HNY

Phasing of cashflow, depress the partner Plus petrol into an early sale, by lobbing a few coconuts and agitating the odd tribe, a 12 month delay here and we get the next +50% free, FFS Experts baby - Quote, Putumayo-12
Amerisur has a 60% working interest and is Operator, and Pluspetrol has a 40% working interest. Put-12 is a 54,434-hectare block which is adjacent to Platanillo to the East and shares its geology. Acquired in November 2012, the bid included a commitment to a seismic acquisition programme and the drilling of one exploration well during the first three-year exploration phase.

Latest Developments
• The company intends to drill 3 wells on this block commencing in H2 2018, initially focussing on Prospects 1 (Coembu), 6 (Maracaya) and 3, targeting unrisked mean prospective resources of 106MMBO, 47MMBO and 82MMBO respectively
• A Consulta Previa was completed with three indigenous communities, which allows further seismic operations to be performed in the block
• The Company and partner have decided to drill Coembu prior to acquiring further seismic data and social consultations for the studies required to apply for an environmental licence are now underway

AMER net backs at $90 Brent next 2 months, reality kicking into to the supply side risks, as US at capacity Rigs falling, Russia at capacity and Saudi, with some spare but not huge, nor is there the urgency upto $90 Brent. IRAN sanctions kicking in NOW as many customers are re-directing their buying, China and India won’t for sure. Iran exports falling off a cliff today, not 5th Nov.
As Bloomberg covers Energy expert John Kilduff counts Iran sanctions as the top reason West Texas Intermediate (WTI) could climb as much as 30 percent by winter, and that could spell $4 a gallon unleaded gasoline at the pumps.
"The global market is tight and it's getting tighter, and the big strangle around the market right now is what's in the process of happening with Iran and the Iran sanctions," the Again Capital founding partner said on CNBC's "Futures Now."
He added: "These Iranian barrels that we're going to lose, it's really going to hurt. It's really going to make a difference and tip the scale in my view to an upside surprise."
His thoughts came as WTI crude oil exceeded $70 a barrel on Thursday, and rallied to one month highs. According to Kilduff, there's a high likelihood the commodity will break $75 within weeks.
And our SP down, hate to be short year some funny reason next 2 months. But despite trade tariff demand doom, supply risk is starting to Touch Cloth!!! Whoops

Quote,Put-8 Drilling (50%, non-operated) 4th April 2018

Amerisur has been informed by the Operator of block Put-8, Vetra Exploration and Production (50%), that regulatory permission has been received to drill the Miraparriba-1 well from the Cohembi-2 pad, an existing pad located in the adjacent Suroriente block (Vetra Exploration and Production 36.2% and Operator, Ecopetrol 48%, Gran Tierra 15.8%). The Suroriente block holds the Cohembi Field, which produces from the N Sand. Miraparriba-1 will be drilled as a directional well to the Miraparriba structure within the Put-8 block.

This agreement removes the requirement to obtain an environmental licence for the drilling of the well, thus reducing the time before drilling can occur. Why haven't we spudded yet? As any commercial find would only increase NAV.

With regard to BOD disputes, if there are future synergy gains, they come first in my experience. To ignore +1m acres coalescence gains and future economies of scale being subservient to a personality dispute is a bit daft really. Only IMO. I've done my homework and am happy with it. GLA

Our drilling of the Nortward N ASands will no doubt assit our neighbours. IMO DYOR byt GTE would not have spent +$500m in acquisitions last 2-3 years, want to focus nearly totally in the Putuamyo and not to fanny around per se. They next alternative exit route for oil at lower cost base. GLA exciting times.

Over the last 6 months GTE getting closer to Amer - Quote GTE June 18 - During the three months ended June 30, 2018, we acquired additional working interests in Alea1848-A and 1947-C for total cash consideration of $3.1 million, which increased our position in these blocks to 100% and expanded our exploration opportunities in the Putumayo Basin. These acquisitions are subject to approval by the Agencia Nacional de Hidrocarburos (National
Hydrocarbons Agency). I believe these were acquired from a part Vetra Consortium. GTE Dec 17 - Strategic Farm-Ins: Alea 1848-A and 1947-C Blocks, Putumayo Basin (Gran Tierra 75% WI and Operator)
Gran Tierra has entered into two agreements to acquire, subject to approval from the Agencia Nacional de Hidrocarburos (“ANH”), additional WI's in the Alea 1848-A and 1947-C Blocks in the Putumayo Basin. Under the terms of the agreements, Gran Tierra will increase its position to 75% WI in each of the blocks and will carry the farmor on current contract phase obligations, to a combined maximum of $4.8 million. The applications for approval to be submitted to the ANH will include the appointment of Gran Tierra as operator of these blocks. The Alea 1848-A & 1947-C Blocks are expected to provide drill-ready prospects targeting the multi-zone potential of the N, U and T Sands and the A-Limestone. Gran Tierra has already mapped several prospects on existing Company 2D and 3D seismic data. Alea 1947C is directly North of Plat so the N sands can flow thru the OBA with or without Put 8 & Sur Oriente. So no point hanging on. Put 31 is adjacent, right next door and Alea 1848 A sits west of Put 31, co joined. We need that Ecu Pump and more.

GTE & AMER Shared Boundaries already exist and are being strengthened over the last 6 months. PUT 31 Owned by GTE, N Sand Sweet Spot Quote - had to go bacj to 2014 FFSPUT-31 BLOCK Above PUT 8 and Next to North Platinillo ' GTE took over PetroAmerica 2015, Petroamerica, as part of a bid consortium (including Gran Tierra, with a 65% WI and operator, and the Corporation with a 35% WI) was the successful bidder in the 2014 Colombia Bid Round for the PUT-31 Block in the Putumayo Basin. The block is interpreted to lie in the sweet spot of N-Sand play fairway in the Putumayo, and its award is subject to final confirmation by the ANH. This block carries a minimum work commitment of 200 km2 of 3D seismic and one exploration well, along with additional exploration work totalling $100,000.

So NSE New Stratus No Cash, posted these filings on Sedar TSX 28th Aug No Deal. A lunar eclipse once in 50 years, I would be shocked if GTE didn't take this with a MOU with Amer. This month I believe, would open up GTE output into the OBA and potential coalescence of fields and economies of sale gets Ecopetrol a front foot. . GLA

Vetra Deal not Done, Jove of Vetra wants out on output down -60% in 4 years and NSE No Cash, Quote, Deal not Done, -During 3mths June 30, 2018, (the "LOI") to acquire Vetra Energia, S.L. ("Vetra") for a base purchase price of US$88.5 million (the "Transaction"). Management's focus is currently on closing the Transaction and pursuing opportunities to diversify its asset holdings through additional acquisitions of international oil and gas assets.
The Corporation is currently working toward definitive agreements and closing of the Transaction and the Offering. The Transaction May Be Terminated and the Assumption of Related Costs The completion of the Transaction is subject to a number of conditions precedent, certain of which are outside the control of the Corporation, including the closing of the Offering. In addition, each of the Corporation and Vetra has the right to terminate the Transaction in certain circumstances. Accordingly, there is no certainty, nor can the Corporation provide any assurance, that the conditions precedent will be satisfied or, if satisfied, when they will be satisfied or that the Transaction will not be terminated before the completion of the Transaction. New Quote - market the IPO - ' Compared to the same quarter of 2017, the Company's G&A increased significantly in the three months ending June 30, 2018 due to new business development activity including asset evaluations, due diligence and negotiations. Professional services costs during the three months ended June 30, 2018 include legal, engineering and financing consultancy for evaluating and negotiating potential acquisitions of international oil and gas assets. Travel costs associated with property evaluations and financing roadshow rose significantly in the quarter compared to the same period of the previous year. Last point - Running out of cash. Amer helped stall by going for drilling Put 8 from Sur Oriente owned by Vetra, their lack of cash before the NSE YSX bit showed thru, they could not put forward the cash to drill Put 8 on a reduced basis - gives GTE the Heads up, they need Vetra's ops to consolidate, Confinaz1 Put 7 ,, Quinde straddles and Cohembi multi stack plays straddles block boundaries PUT 8 = turf wars, and we need them as a good neighbour. great potential here, game changer IMHO DYOR. With Dana in the middle - No Competing bids with GTE- surely this is a no brainer, suck it up as an acquisition now.

According to their Interim Q 2 Cash in Hand 30th June 18 - $157k, Quote Accounts NOTE 8 – SUBSEQUENT EVENTS - A company controlled by certain directors of the Company provided unsecured short-term loans of USD $200,000 and USD $100,000 on July 17 and August 9 respectively to the Company totalling USD $300,000. The loans are for a term of 6 months at an interest rate of 6%. The first three months of the loan term are interest free. NSE trading loss was $650k Canadian Dollars in 3 mths to June 18, so they do not have enough cash for the end of this month!!! That's why I said watch out on this, did exactly the same with Put 14, war of attrition by Amer and GTE not helping to drill Put 8, Vetra are trapped between GTE & Amer and there has not been a well work over reported by GTE in Sur Oriente since early 2017. The big squeeze is on. GLA Last post. HNY So delays suit the predator not the game. They used the same tactic on US PI's FFS, I think NSE are in a sum zero game, as Jove wants out. GLA How can you Market an IPO declining prod'n only 69.5% of producing fields and need +$30m to standstill. News this month I think. GN Man Flu.

GTE Corporate presentation June 16, has 15 pages on Sur Oriente and the Cohembi pool, over 10% of the document with stacked plays not limited to the N sands. Pages 57-72 and exploarion requirements Page 101. Then not one mention of Vetra Cohembi Sur Oriente in 2017 and 2018 accounts???!!! Dana will KNOW VETRA GTE backwards and the deals, strategy and so on. Vetra is belly up - a potential cheap carcass needed to be devoured and properly rationalised. All the pieces of the jigsaw are in play. Review the emphasis GTE has placed on that area in 2016 very informative and now silence from all parties. It makes sense for GTE & Amer - if possible to have co-joined terroroties and interests - economies of scale 'Non Competing per se. GLA I'll shut up now.

Same date- Jan 16 January 2016 - Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, is pleased to announce the acquisition of Platino Energy (Barbados) Ltd ("Platino"), a private company, from COG Energy ("COG") for a total consideration of US$7MM.
The assets acquired through this transaction are:

· 50% (non-operated) working interest in PUT-8 Block adjacent to the west of Platanillo. Vetra Energia S.L. ("Vetra") holds a 50% working interest and is the Operator. The block is currently in Phase 1 of exploration.

· 100% (Operator) working interest in the Coati Evaluation Area (Temblon Field) within the Coati Block located in the South West of the Putumayo basin. A third party operator, active in Colombia, after fulfilment of a carry in the next exploration well of US$2.7MM will be entitled to a 20% working interest in the exploration area of the block, which does not include the Coati Evaluation area (Temblon field), which will remain 100% to Amerisur. The block is awaiting an exploration environmental license to advance the planned exploration programme. West ward push.

The Cohembi Pool and Play Fairway, recent GTE drills Confinaz1 PUT 7, Quinde in Sur Oriente Vetra and Cohembi PUT 8 Vetra/ Amer travel through differing blocks, but one large proven resources, to monetise it needs a change in operatorship and ownership. Cohembi Sur Oriente Output was - Quote Suroriente Block Production (15.8% Working Interest)
The Quinde field resumed normal production operations on July 23, 2014 and a number of Cohembi wells were reactivated in late August. Average Suroriente production for the months of July and August was 5,725 gross barrels of oil per day (“bopd”), or 906 bopd working interest share. Production for the first 23 days of September has averaged 8,648 gross bopd (1,369 bopd working interest share), despite some recent downtime for the Quinde-4 and Quinde-6 oil wells due to submersible pump failures. A service rig is currently on site replacing the pump for the Quinde-6 well, and will commence the replacement of the pump for Quinde-4 immediately afterward.
According to GTE pre 2016 their share of Sur Oriente was 738b for 15.8% giving the field output 4.7k with 17 wells, No exploration for 4 years.

GTE Acquisition PUT 7 Jan 16 Gran Tierra Announces Strategic Acquisition Consolidating Interests in the Putumayo-7 Block
Source Press Release
Company Gran Tierra Energy Inc., PetroGranada Limited

Tags Corporate Deals, Deals, Upstream Activities
Date January 14, 2016
All dollar amounts are in United States ("U.S.") dollars unless otherwise indicated.
Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (TSX:GTE) (NYSE:GTE) is pleased to announce that today the Company entered into an agreement with PetroGranada Limited to acquire all of the issued and outstanding shares of PetroGranada Colombia Limited ("PGC") (the "Acquisition"). Subject to approval by the Agencía Nacíonal de Hidrocarburos of Colombia ("ANH"), PGC holds a full 50% undivided working interest in the exploration and production contract for the Putumayo-7 block ("PUT-7 Block"), in the Putumayo Basin of Colombia. Consideration for the Acquisition is $19 million, subject to customary adjustments, to be paid on the closing of the Acquisition. In addition, the Company has agreed to pay an additional $4 million to PGC if the cumulative production from the PUT-7 Block plus gross Proved plus Probable reserves under the PUT-7 Block meet or exceed 8 million barrels ("MMbbls"). As a result of its previous acquisition of Petroamerica Oil Corp., the Company already holds the rights to the other 50% undivided working interest of the PUT-7 Block, which is subject to ANH approval. Upon receiving ANH approval with respect to both interests, the Company will hold a 100% undivided working interest and be the operator of the PUT-7 Block.
STRATEGIC RATIONALE
The PUT-7 Block is highly prospective in the Company's view. Based on an NI 51-101 independent report prepared by GLJ Petroleum Consultants Ltd., as of December 31, 2014, there were 1.9 MMbbls of Proved plus Probable reserves with respect to the 50% undivided working interest of Petroamerica Oil Corp. In addition, the Company believes there are multiple seismically identified drill ready exploration prospects on the PUT-7 Block, including the emerging N Sands play.
"This acquisition is strategic to the Company in consolidating reserves and high potential exploration opportunities in the Putumayo Basin, and throughout the hydrocarbon producing basins in Colombia. This operated block will provide a focal point for potential new infrastructure in the southern Putumayo as we begin the exciting exploration and development programs in this region," commented Gary Guidry, President and Chief Executive Officer of Gran Tierra. Part 1 of 3

Last points, Vetra are operator Sur Oriente and Put 8, They have little cash AND NO Desire to invest, GTE and EcoPetrol frustrated in Sur O and we are in Put 8, so to allow us to drill PUT 8 from Sur Oriente 3 things, lack of cost commitment from Operator Vetra, Amer can hand bag it and play the waiting game with the New Straus deal on Put 8 and frustrate matters , 3 buys time for GTE to clear the way for a takeover of Vetra and be operator as Cohembi reservoir is complex and shares GTE & Amer boundaries. Next phase of Amer development after the rid of Vetra, work with GTE . This blip is a pain in the derareraeer

With the N Sands, if we can drill deviated wells Output per well will be much larger but narrower life time. So there is a risk, but if we get it The OBA will be full soon. GLA. HNy