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Can't find anything on Talos Energy results today, and maybe more info on Zama. GLA

But see the commercial logic- Gran Tierra Energy Inc. Announces New-Country Entry into Ecuador. the Company has made a new-country entry into Ecuador through the submission of winning bids for a total of three blocks, which were offered by the today’s Ronda Intracampos. The three blocks are located in the Oriente Basin and are approximately 140k acres, creating a contiguous acreage position extending from Gran Tierra’s existing assets in the Putumayo Basin in Colombia.
• Establishes the Company as one of the top landholders in the play trend which extends from the Putumayo Basin in Colombia through to the Oriente Basin in Ecuador; the Putumayo and Oriente Basins are the same geological basin, with different names due to the international border between Colombia and Ecuador
• Further strengthens and consolidates Gran Tierra’s position in what the Company considers is a conventional oil resource fairway; Ecuador’s Napo Formation is equivalent to the Villeta Formation in the Putumayo Basin and has the same multi-zone potential in carbonate and sandstone reservoirs
• Gran Tierra has secured 100% working interest (“WI”) and operatorship in the Charapa Block, Chanangue Block and Iguana Block (collectively, the “Blocks”), which increases Gran Tierra’s gross acreage position in the conventional resource plays in Ecuador and Colombia from 1.2 million to over 1.3 million gross acres
• Gran Tierra’s winning bids consisted of a work program bid by block, including the drilling of a total of 14 exploration wells over four years across the Blocks, the Contracts are a sliding scale, with the Company take ranging from 87.5% at US$30 per barrel to 40% at US$120 per barrel; there is no consideration payable upon the signing of the Contracts and cash outlays begin with the commencement of the work program
• Gran Tierra expects to commence its Ecuador exploration drilling program in 2020 with no anticipated changes to the Company’s previously issued 2019 guidance;
• Through the preliminary award of the Charapa Block, Gran Tierra establishes a proven position in the B-Limestone play trend; the Charapa field has had historic oil production over a 17yrs
• Contiguous acreage extending from Colombia’s Putumayo Basin into Ecuador’s Oriente Basin provides Gran Tierra with the ability to potentially construct strategic gathering infrastructure on 100%-operated acreage, which would utilize the existing infrastructure in Ecuador. There we are - GTE got in ahead, read the commercial logic. Gutted. GLA GN

What I meant was last post - anything up dip from Mariposa M1 to Indico I1 is a gimmi, does this move further SW toward Aguila and Sol?? But if I1 is so large - then CX1 1.2km should be in range. Point saying, if not brill jump on Pavo Real for the Cheltenham Gold Cup, so medium term , there are bumps on the road, but the road to growth should be delivered. GN A directional well should throw out far more data and understandings. I genuinely hope we get the oppo to follow this next 2 years and get an outcome, not a prem ejac in the pants from a short skirt takeover.

Slide 18 - in the Feb 19 Says it all to me - highlighting a possible 14 drills including prospective drills , but Note LOW RISK - Quote the slide
THE INDICO COMPLEX –LARGE UPSIDE IN ASSOCIATED STRUCTURES

INDICO COMPLEX DRILLING -LS3 PLAY
The scale of success at Indico-1X opens up a significant low risk potential in structures between Mariposa and Indico fields, together with lateral structures within the LS3 play.
It is expected that these wells will throw further light on the combination trapping expected to exist in this play.
This has the capacity to create a very large reserve base.
•Calao-1X, targeting structure SW to Indico with potential resources between 2 and 9.8 mmbo*
•Pavo Real-1X, targeting structure NE to Indico with potential resources of 4 to 45 MMBO* in the combined Indico-Pavo prospect area
•Indico-2
•Indico-3
•Aguila-1X
•Sol-1X
•Mariposa-2
•Indico Upside-1&2X
•Mirlo-1X
•Sinsonte-1X
•N-1 to 4X
So there is so much opportunity here, the momentum will carry the SP eventually- Notice 'Low Risk' above. Hope they are right.

Totally agree comprehensive points made over the last few weeks, CD opportunities are there for material growth next 2-3 years - no panic no rusk position yourself accordingly - agree, Wolster - limited downside Risk, unlike others none of our major paradigm shift deals have effected the EV properly, JTD Ecuador - something is brewing big time its warming up. Bet we get the block not bid on. This drill make kick start the program, however the next 3 definitely will, a slightly longer profile but the end target SP the same. POO recovering nicely. GLA GN Most informative BB you could wish for thx all enjoyed the reading.

OPEC report will no doubt reinforce the supply side argument and The Gold Cup = Volatility and betting. Rigs down again, EIA API Panto to come its all Light Oil FFS , like Auburn Balls quiff FFS All show GLA HNY I rate PMO - as this H1 advances this company will get stronger held down by GS - If there is an asset deal Bril. Look at our Block 30, they are ripping our pants off ( + splash in Zama) Apollo Global that is DEA with the Wintershall will smack um out. AS with Amerisur - believe it or not PMO is in the Right Place & the Right Time, N Sea Cheap mature cash producing proven reserves assets = , Mexico Desired early stage High profile targets - Whats not to like Deal territory FFS Come on and for once we are ahead of the curve - we are not chasing a deal we can DEV out Luz it . !!!

I guess within 3-4 months we could have +15kbopd spare capacity OBA for 3rd party Oil in the RODA system thanks to OXY top level and Amer repairing RODA whilst PINT1 is moth balled. that's at $5 = $30m gross, FFS a bigger rent roll than the Duke of Westminster. End GN

See the varying thread for context - The Abbott is kicking in now, Ale of course, Ecu bid process RONDA XII started their bidders review June 18, OXY farmin not highest bidder with Amer Nov 18 - best fit, they built OCP Ecu pipeline under utilised +50% spare capacity losing cash , thought that the OXY ECu stand off was a barrier - obviously not. OXY can REMOVE pipeline barriers in Ecuador obviously they we a key conduit in all Ecu oil tributaries including RODA FFS - That's why our bid will win in ECu we have OXY backing us not just cash but govt legislation expertise, stops OCP being given back to the state, the state want Col Oil +150kbopd thru OCP and we are in the middle of BILLION dollar deals with a £150m Mkt Cap EX CASH!!! Transformational Be Fecked. IMO DYOR research RODA ouptput has been falling in line with Ecu lack of Exploration, the RODA cap is to discount Amer in a bid war, make us weak, so we have a disguise of where we want to be. - when in fact we can move fast. So if we get Ecu blocks, OXY will de bottleneck paper issues - as I think all the new valves, news bits are done, our RODA access could double after we get a block in ECu . HNY GLA.

After the Chiritzo Pump station - capacity increases restricted to 9k for the OBA thru RODA, yet iOBA has the physical capacity to pump 28.8k. In the past these were bid ploys - as in reality - Putuamyo is a virgin region, its not mature and land/block deals are still in their infancy and are crucial - see GTE taking out Vetra, the pieces of the jigsaw for the key E& P players are still in motion. - so games offer & bids are still in process. Hence the Cuayebeno de bottle necking could be as simple as - you Amer get the Block we'll give you 18kbopd capacity if you also supply these values son. JW was totally correct transformational in more ways. Notice we stocked crude in Dec 18 wait for higher POO so our storage capacity must have been built way beyond 250k boe - sad thing is we don't get that info. Amer has to hold back its hand as the Putumayo Ecu Oil block plate tectonics are still in motion. Not long before a lock in bid. GLA

Thx Treasures, While I'm conscious - NON CPO 5 for a minute, Amer RNS's strangle hold news on certain mission critical developments for a reason, its usually deals, which they can't divulge participation in the bidding rounds. OBA RODA gone quiet before a bid process- same theme OXY Oct 18 - etc etc. If you look at the Oil export potential of our blocks discounted by 70% we need +30kbopd capacity from OBA & RODA. OBA OK 3rd pump we are at 28.8k. - Why build a pump station so low down the Roda so far away - unless you are going to infill a block with a bid. The next RODA capacity increase was Cuayabeno, which is in the RODA and adjacent to block Sahino right next to it Prospective reserves 40MMboe - in the Ronda XII bid round last day tomorrow. Results late April. OXT & GTE would want us to get that. IMO de bottle necking could double our RODA capacity given where the Chiriaza pump key upgrade was delivered. Bottom line Amer need SKIN IN THE GAME IN ECU Blocks - we need a physical presence and foothold, this starts with blocks adjacent to the RODA pipeline and then we need to get across the river again thru PUT 14 in the next 2 years. This is why I think with OXY back stop protection we won't get a cheap bid, as Amer somehow seem to be the only ones capable of quick bi-lateral oil deals between Col & Ecu for pipel;ine access - IMO DYOR. HNy And but the way the highest density Oil block is PUT 30 heavy Oil but a monster, that needs a future peep hole and its not farmed in yet- phase 2 2020. Unlike 2018 which was painful, I think the opportunities are moving closer to a real possibility DYOR IMO GL Ecu pre bid vetting would be bolstered by OXY - pre OXy our resource base TOO SMALL - NOW we can compete and put other bidders off.

Missed this in last post, the choice of CX1 over Pav Real, maybe to confirm the Up Dip progress a another priority, helping in de-risking Aguila and Sol - thereby accelerating and allowing the investment decision for further Rigs!! So its a key juncture in exploration proceedings but we could be close to breaking the operator resistance in expanding exploration for this block and in the medium term Plat has to be contained for these crucial next 2-3 months as the economic investment case for the LOCAL operator is won. Amer can move on elsewhere then. IMO This is drill is a key milestone in CPO 5 Dev, needs the Indian HQ to move it up their global agenda, hence JW's visit 9th Feb laid the seeds for the drill bit to prove the case or not so. ONGC and AMER would NOT have taken this drill on in a lightly fashion, it rules their access to capital. It could be argued this is the key drill. HNY

GLA GN This situation is messing with my slep patterns - if I had any.

When Indico reservoir depth was found +280ft on 10th Dec - the next target was Sol1, up dip as Jaggers confirmed and also look again at JW 53min pres May 18 on line. Sol & Aguila are far greater structures than CX1 - If Pav Real is potentially 4 times bigger than Calao why drill it in second slot ? CX1 is up dip, yes and Pav 1 1.1km and closer!!. IMO DYOR . The only reason I can think off- is it could confirm the LS3 quicker - being directionally drilled so TMD 12kft TVD maybe +11k ft but would be lower than Indico 1 10,640ft I think, more diagonal pushing out +500m at the base of the triangle - presses all the buttons, immediate cash, hits OWC potentially, confirms the up dip flow and connectivity of the LS3 and other structures - enough to throw another rig on the job. So in order to confirm this ONGC Videsh needs to convince HQ with all the data sets. This drill's primary objectives must be to improve the connectivity theory - with more data, find OWC and persuade HQ its a multi drill project maybe 3 rigs!!!. I think the Pres of Col would want that confirmed, so testing must be clear, concise and not botched. If we are lucky enough to get the green light on more rigs HNY this SP will blow as +4-6 more wells (2 rigs) coming in at say 2.5kbopd we will have record production for 2019 and record exit rate over if we add PUT 8 +2 = > 12kbopd add 3rd party oil sales on top and Ecu acquisitions. GLA So the importance of this drill cannot be over emphasised - that's why it will take time if oil is there and all OK, these results coincide with an inflection point in this field's development profile and economic dynamics. If we are lucky we get promoted to the Premiership and strangely enough reduce our capex budget as incremental cashflows covers additional capex, enough so it helps us free resources to bid more in Ecu. Mama we're ALL crazy now.

The Calao Well is not just the structure, it is not even the end of an isolated fault displacement, its not even the beginning of CPO 5 - combination trapping trend . But it is, perhaps, the end of the incredulity of the LS3 Regional play, We will Drill in the LS3 sands, we will harness 2D seismic in the foothills of tachaco , gain 3D on the flood plains , and place greater emphasis on 4D at the Ecuador border . And now these three remain: faith, seismic and the Enesco E-2029 Rig . But the greatest of these is cash.. HNY There's no going back. GLA GN

For the avoidance of doubt, the mandatory change in accounting policy for the early recognition of any credit related impairment costs has to be made, exactly like a producing Oil asset and written down and the shortfall expensed to the P & L. Hits all financial institutions harder than us. But its done and as we recover that impairment will reduce. Its NOT CASH - its a provision. Yes our debt interest costs have increased after the refinancing to 7.5% ish but we are high risk when debt is $2.3bn and our Net Assets are $1.1bn, highly geared - that imbalance will reverse next 18mths. GLA Alles in ordung - Ich Bien Ein Premier Olier LTH er - The accounts - Ein Buch für Alle und Keinen. HNY

You can tell TD is an accountant, as these costs inception should relate to 2017, but not recognised until 2018 and there is no restatement of 2017 Accounts, soa more cautious Accounting policy - IFRS9 relates to the future recognition of credit related losses. Quote IFRS 9 impairment
During the financial crisis, the delayed recognition of credit losses on loans (and other financial instruments) was identified as a weakness in existing accounting standards. As part of IFRS 9, the IASB has introduced a new, expected-loss impairment model that will require more timely recognition of expected credit losses. Specifically, the new standard requires entities to account for expected credit losses from the moment when financial instruments are first identified. IFRS 9 acknowledges the full lifetime expected losses on a more timely basis. Its not A CASH LOSS its an increased provision. Going forward PMO Interest rate cost should reduce and equate to cash Interest charges. So H1 2019 will benefit from Higher revenue, higher Catcher margin and reduced debt costs. Cash interest runs at $220m. H1 2019 should be clean. GLA

I'm not making it up Luz Steve - Quote - ' Looks good baz. If this review comes to pass as stated, was about me and you clubbing together to get jw a proper syrup, i mean ffs the one he has on in that interview looks like a clodge ' . Steve. End My best mucker HNY Luz Steve and he is ussally correct.

FFS - Steve, luz him bought in to Amer this week but says JW has a clodge of an hair style, Welsh for a 9 iron huge divert of ground after a missed shot with 70% earth and the rest grass. FFS I don't need this Steve FFS it's an investment not a Hello John Got a new motor . GN Genuine its not me, apologises ss

Won't post more but I think IMO DYOR you are spot ON THX Baz

If Caloa X1 comes in Bril - if not wait 4 months in a refugee, I 've been in both - so I don't give A Mary Poppins HNY GLA Gn

The MM's mark us down on Plat decline , in +3-4 mths Amer will have record production from CPO5 , PUT 8 and Plat and that's start with POO$70. Soon total > 8kbopd .