Member Info for BaysilHope

One mega point here to note, NO News doesn't mean no progress. PUT 8 was hugely delayed as we helped GTE get Vetra by taking the hit of opportunity cost and lost production and being PASSIVE !!! , we have first right of refusal PUT 8 - We are due a concession soon, maybe Operatorship and 3rd party Oil deal ??!!! OXY caught market off guard. I'm referring to Ecuador which news should flow in end of March including RODA update and deals. Last point - listened to BRR again 14th Jan - Indico Structure SO large can't exit on a single fault style trap. So repeat the drilling process and Amer could sell our 30% CPO after +4 wells $150m, or 14p a share cash?? Worth the wait. COS mega high. Still Amer is far more than CPO5 - that's a cash cow conduit for the real prize 1m Hects and the OXY deal play out - so short, medium and long term quality horizons to look forward to, News soon. GLA IMO DYOR Dividend this year and that will thrust the SP skyward especially if 3 rigs are employed. None of this reflected in the SP. Market caught out last 3 times post the RH slide . I'm in. The clue is Up dip and full to spill from M1 which can take a second well, add PUT 8, Mecaya and PUT 9 our output could hit more than 40% of GTE within 1 year if resources are employed properly. Next well key, not if but how high.

Found it, three mega key points influencing the Chance of Success with flow for Calao 1 a nd the Prospectivity of the area from RNS's and JW:-

1. Scale of Reservoir Thickness
2. Size of the Oil Column and the degree of fill
3. Indico Flow rates

Quote: The scale of the reservoir thickness and oil column at Indico-1 has important implications for the prospectivity of the area within the LS3 play, as well as the degree of fill within Indico.
The initial flow data also support our view of the importance of this play, not just at Indico but also in the surrounding area, extending down to Mariposa and up to the Aguila and then Sol structures.

This is not Pint1 in the N Sands!! I just needed to sift thru the spiel. I am now an expert on combination trapping - i.e Marriage and debt, that's a lifetime combination, full of faults most down dip. HNY - short term SP offers a cheaper entry than in 2 months after the AGM and clarity on GTE. If Caloa 1 exceeds expectations, then there could be a THIRD RIG.

Quote - In addition, the partners are evaluating a further increase in drilling activity for 2019, targeting an accelerated appraisal/development of the Indico field, the NE structures and other prospects associated with Indico down-dip and Mariposa offsets. This may involve the contracting of a third drilling rig.

IMO DYOR Trumps tweet is an admission the KSA have the edge if he get a trade deal with China. The Media can play all the games and buy time, facts always speak louder if the KSa OPEC & Russia turn off the taps the US, India and China are fecked, so to keep global inflation down High POO and Tariffs are a killer, so in a great new world order , no demand destruction thru US trade war and US Shale take a breather and $POO gets to $70. Next month.

Hi Jasehem fair point, on the larger scale of comparatives, I think this is where the market can go wrong. Take Feb 16 POO $26, Amer sales for the financial year 2016 - $47m Losses $30m SP 20P FFS , cash flow negative and NO OBA. Today POO $65, our sales $150m, Cash $50, OXY deal - Indico etc etc even in 2016 we shut down Plat due to low POO.and SOCIAL ISSUES FFS So guys - read the Daniel in the lions Den - but +ve LTH, just buy, and keep buying as the Market Cap of £207m less Cash is ev £150m - how come the Indebted Oilers get a Premium - This is going to blow, social issues under control genuinely - the growth plat fairway is great just understanding OXy - ignoring GTE OPUT 8 & CPO 5 last chance next 10 days. I think the Algo's have it wrong, They've priced I think are priced in debt and can't upside output without massive debt. No RH OK Plat falling it did in Fecking 2016 but we didn't have a 300ft Oil Col in CPO 5 the or a $100m Farm in. I don't have enough cash to invest in this!!! Great place to be. Even if Calao 1 isn't OK buy shares LTerm as the weight of investment will win in the end. GLA

There's 2 years of this field research and development to come full of profit and output and add to that the same for OXY JV, the MM's are not reflecting the upside which is great for me, limited resources, so more in here soon and take a 2-3 year view. AMER & JW GC have a USP here , they are able to talk to governments plural , and might help our partners get a better overall strategic deal - bi laterally . GLA GN

The stupid Reserve targets given by ONGC for Marispoa And Indic - have passed on to Aguila Sol and Caolao 1 and Pav1 - how come Calao 1 + Pavi 1 ARE EACH greater than Indico 1 also Sol1 2MMBOE and Aguila 4MMBOE - the only way to break this news prospect collar is next drill. No wonder the SP is trapped, we are deliberately choking off the great news for Cheap entry level. Let it Go, Let it Go. I understand limit expectation and over deliver, but this is mental. Prove the connectivity soon.

Indico-1 is targeting the same play as the successful Mariposa-1 well but is further up-dip in a larger structure. The Operator estimates a gross P50 recoverable resource at Indico-1 of 10.3 MMBO. CPO-5 is located to the south of the prolific Llanos 34 block and to the east of the Corcel fields and includes the producing Mariposa-1 well. Then the 300ft col of Oil with no OWC gives P1 of 18MMboe so they are under shooting the target by +500%. FFS News soon.

Once Ecu bid rounds sorted, with AMER & ONGC involved - I think OXy & Amer will jointly own 2nd pipeline thru PUT 14 - so what started as a low cost give away PUT 14 on the Put river with Ecu is a key piece of land, will pay back multi fold, to drain +500MMBOE OXY will want a second pipeline and Ecu will need another link jointly funded until we get taken out.

Given the past, given Amer heavily require assistance in Ecu for the ODA its key future asset, why would OXY invest in us when its in dispute and questions over the OCP, unless there has been a negotiated outcome. New will out, this company is so under valued its beggars belief. For OXy to chose us in Ecu - anybody ????

I can't emphasis how important Amer's involvement in the RODA system, granted by PetroAmz - why would a Multi billion $ business allow a small sprat the job of refurb and the way we did it, Chirtixzo pump and other add ons no doubt . Old News but paints the picture Quote Schlumberger sees Ecuador's unpaid bills hurting quarterly results
HOUSTON/QUITO (Reuters) - OPEC production cuts and economic woes are complicating Schlumberger NV’s (SLB.N) efforts to collect $1.1 billion from Ecuador’s state-owned Petroamazonas, casting a cloud over the oil services company’s first-quarter results. “The situation is obviously not sustainable in the long run,” he wrote, adding that Schlumberger was forced to expand debt to finance operations in the country. Schlumberger did not respond to requests for comment. Ecuador’s Ministry of Hydrocarbons declined to confirm the talks. The government has acknowledged some problems with payments to oil companies, without specifying which ones. Ecuador’s economy has been hurt by the global oil-price downturn and two major earthquakes that killed more than 660, injured 6,300 and caused damages estimated at up to $3 billion.
Ecu needs help on a Macro level, Amer just happen to the in the RIGHT PLACE AT THE RIGHT TIME IN TWO LOCATIONS - NOT ONE!! CPO5 & Ecuador Bid Round. Ecu Owe OXY $1bn, could repay via concessions !!!
Amer & ONGC can invest in Ecu derisked and save OXY's stake in OCP and arguments with old debt issues, OXY owed $1bn from Ecu. SO when the dust settles its concession time IMO DYOR. So IMO I think AMEr is like Elon's Falcon Heavy rocket BUT with FOUR boosters, CPO 5 - OBA third part Oil and expansion Ecuador and PUT 9/12/8. Whats not to like. GLA GN

Work in progress, there are bigger MACRO games at play here worth Billions and Amer have beautifully positioned themselves right in the mix as a catalyst minnow. OCP lease is up 2023 - OXY AMER & ONGC can fill the gap with GTE output through OBA if you include blocks in Ecuador. Quote - Ecuador heavy oil pipeline could revert to state- 2017 - The shareholders of Ecuador's 450,000 b/d heavy crude pipeline (OCP) are seeking to relinquish the underutilized asset to the state before the company's operating contract expires in 2023, deputy oil minister Patricio Larrea told Argus.
In 2003, Ecuador granted OCP a 20-year operating contract under which the company agreed to return the $1.5bn pipeline to the state at the end of the concession. But the OCP partners are now seeking an early return as a way to resolve a $400mn dispute with Ecuador's tax authority (SRI).
"We are working along with Ecuador's state attorney general office, SRI and the finance ministry to assess if the proposal benefits the state. The tax issue is very complex and we must consider SRI's point of view first," Larrea said.
An OCP official confirmed to Argus that there are ongoing talks between the oil ministry and OCP's shareholders, including China's state-owned Andes Petroleum, Spain's Repsol, US independent Occidental, France's Perenco and Ecuador´s TLC, to hand over the 485km (301mi) pipeline and associated storage and export facilities at the Pacific port of Balao. Oil minister Carlos Perez has publicly said that Quito would benefit from an anticipated handover of OCP to accommodate state-owned PetroAmazonas´ rising production of heavy crude from the Ishpingo-Tambococha-Tiputini (ITT) complex. Ecuador desperately NEED investment and can offer concessions, Petro Amz HAS NO CASH FFS --- - -Amer is in the mix here, can help OXY and ONGC recover a tad in Ecu. Exciting times.
Amer can really add value here to OXY, ONGC, GTE , COl govt and Ecu and the OCP - I think the reason Amer have not been taken out is JW's unfinished expertise which is key!!! If he can prove up Indico , coalesce deals from 3 partners, we hit +£1, easy as the play fairway CPO5 +OXy +ECU is north of £1bn Mkt Cap. This re-starts in 10 days latest. IF GTE agree to shunt output thro OBA - starts the exodus of Collective Colombian Oil thru Ecuador worth Billions for the next 3 decades. And some menkey wants to short this FFS.

Can't forget why AMER chose OXY, not the highest bidder but best fit, with extensive knowledge in Ecuador, where ONGC NEED TO BE, the loop cl;oses especially with CPO5 - Quote OXY history The Giant Cano Limon Field, Llanos Basin, Colombia

After 40 years of sporadic exploration that yielded negative or marginal results, the Llanos basin of eastern Colombia was thrust to the forefront of world attention by the discovery of the giant Cano Limon field in July 1983.
This discovery was the culmination of an intensive three-year exploration effort by Occidental International Exploration and Production Co. involving 4000 km of dynamite seismic, 20 stratigraphic tests from 1300 to 3500 ft (395 to 1065 m) deep, and 12 exploratory wells.
Before Occidental entered the area, 61 exploratory wells were drilled with meager results--namely, two fields with total reserves of about 20 million bbl of light oil and one field with reserves of 90 million bbl of 13.6° API oil, none of which was commercial.
The Llanos basin was known for its abundant excellent reservoir sands, and opinions varied as to whether there was adequate source rock. The major problem had been definition of traps. Except for the very young folding along the Andean front, the known structural traps were sparse and subtle.
Most of the exploration had been done in the western part of the basin near the basin deep or in the Andean foothills. Occidental took a very large acreage position east of the area of past exploration efforts and found an exception to the small fault closures known elsewhere in the basin.
This exception, the Cano Limon area, is dominated by major early Tertiary northeast-southwest strike slip faulting. Concurrent folding in combination with fault sealing formed the Cano Limon field and other much smaller fields in the area.
The Cano Limon field, encompassing 8821 ac, contains an estimated 1.800 billion BOIP, which 1.066 billion bbl are expected to be recovered with the very strong natural water drive.
The bulk of the oil is in deltaic sands of Eocene Mirador, with additional reservoirs in the Upper Cretaceous. Average porosity of the Mirador is about 25%, permeability about 5 darcys, and water saturation 23%. Individual well flow rates have exceeded 20,000 BOPD. The average oil gravity is 29.5° API, with a gas-oil ratio of 8 ft3/bbl (0.2 m3/bbl) and a sulfur content of 0.41%. Current production is about 230,000 BOPD. I think AMER have chosen very shrewdly and used the connectivity of partnership - for mutual advantage - ALL CAN FEED OFF EACH OTHER. . A lot of great news will flow and I think JW believes he is on to an historic find, the SIZE of the prize, so shut off to the shorting crap we are 5-7 trading days away from a major play.

Agreed Strider4, Why would you create\introduce Calao1 now - IF it is HIGH RISK and delay a greater structural target Aguila and Sol1 which dwarf C1, unless your primary goal is to prove connectivity of the LSE play. So the duster theory is just the laggards trying to but time, IMO DYOR JW went to India for 2 main points, Multi rig play CPO5 + Ecuador bidding strategy. As the BB has said if C1 comes in proves connectivity, then another rig gets added and we start moving GTE oil thru OBA our profits will start exploding, reserves P1 re-written every quarter. I don't think JW ONGC would be NUTS enough to sacrifice sure fire +40mAguila of bigger Sol1 structure for C1 with only 2-10m outcome . I think this well proceeded SO quickly, its to get the Red government seal from ONGC to get more rigs and investment. I'm adding again for when this blows, the news jumps from +2 wells in Sept 18 to +14!!!! March 19 add PUT 8 drilling and you get giddy thinking or forecasting it. New profit equation - Pure energy C - Calao = Money squared Where else can you get offered this upside, no debt, yes a seller, carry on - fundamentals here will re-rate massively and within the next month. GLA

Just check out the posts, Amer drill get OXY deal 300ft OIl col quiet, then 21 consecutives posts about H2 crap, look, we won, the England kicking game failed, I'm tired now, but realise Amer is in a great place and news soon of the OBA selling GTE crude. GLA.

Don't worry not posting tonight - bingo in the cocoon farm. In your post you said Chevron and all meeting in London, my internet search skills are limited, I have always respected your ivery clever insight and your in-depth knowledge and reading of the Oil market, especially recently with GS, but I missed this meeting, which will be key. GLA LAst post GN, Rugby Tmz Could you elaborate more?

The proximity of Calao to Indico says three things to me, firstly COS are very very high drilling so close to 300ft Oil col, 2 If successful Will hasten the opportunity to win over ONGC HQ to get a second rig asap , 3 Prove JW is probably the best independent Oilman in Colombia. Yet some one wants to post about 3 gallons of monkey urine. This could be the biggest find, IF CONNECTED in Col modern history will employ educate and provide welfare for thousands of locals to boot and help them kick the habit, HAs anyone gone to these guys about Coca FFS . So focus on the materiality of opportunity and the prize , Amer is not far away from a premier league find and the others have left it TOO late to get in, Un- fecking lucky, should have kept up sweet peas. IMO DYOR , Amer had to keep shut whilst GTE were taking on Vetra no doubt hence delayed PUT 8 Drilling, I think they have chosen to limit Plat to get 5kbopd capacity for GTE and test and build the supply relationship. I think we have more than 9kbopd capacity in reality on the ECu side . So news soon, 1. GTE AMer transportation deal, 2. drilling one Calao1 3. then 2nd rig, 4 STT CX1 3-4kbopd additional output - Who would short this??? Mentalia -Absemundo. I'm getting the chicken liver pate ready. GTE owe Amer, - we have helped then secure the land by back ground assistance - i.e allow use OBA changes their asset acquisition margins significantly, why help a competitor unless there are concessions, on PUT 8 maybe . Now the Putamayo land bank pieces fit, tie to enjoy economies of scale. I think news will now follow on joint co-operation PUT 8, we have right of refusal, see what that brings. GN GLA

Got it 1500km Mexican wall with one access gate for US Private Equity firms to steal Mexican Oil while Pemex is asleep. HNY GN

All this frustration is cause by Goldman Sucks I believe - and the rights issue. Which they marked us down for. PMO is a great company , yes we will bid for North Sea assets no doubt but to abuse our SP is wrong. Look I take from this what I can and there is no doubt, IF - PMO chooses it can make a +200% return on a pre-development sale of Zama and JV with someone, maybe Apollo. I like discussing the What If's Not the What NOTS OK there are time its all -ve but never forget the options available. Look I speed post sometimes in my own language and forget readers -YEs it does look nuts. No issues TD non at all. My primary concern is PMO gets a fair hearing warts and all. GL GN

Cheers MO - I know you are a good sport - Zama is Exploration, needs more appraisal wells probably +$40m to get a FEED- that's where they develop the field. Comma, full stop, Apollo own Talos, Talos is the operator, but Apollo Global control Talos, which is our partner in Zama and Block 7, which contains +6 other targets. Breath. Chevron want to sell North Sea. Premier Oil can't bid for the entire package, 3 main reasons, 1, Our Debt, 2 No Rights Issue volume of shares i.e dilution could do it. 3 Chevron decommissioning liabilities would sink PMO, Chevron would not take PMO risk for that with $2.3bn debt, they need closure on decommissioning. Apollo Global see a huge gap in Mexico New Oil leg'n. Pemex nearly bankrupt soft for Unitisation deals, like the one PMO Talos just secured for joint boundaries for Zama - I think 35% of the Zama find is in their - Pemex block. SO makes sense to render to caesar what is his and spend the 30 pieces of silver in the North Sea TODAY , by which I mean, Apollo get the prime Chevron assets - high p[roducers and we get the shrapnel but great to us with Tax breaks. Hope that makes sense. So bottom line we swap long lead time negative cash assets, albeit lucrative longer term, pause breath - for immediate cashflow positive assets with proven reserves and smash down debt FCF means free cashflow. AND SOLD AT A PROFIT FFS- If we've spent $100m of Zama and get $500m worth of Chevron assets - WOW - or is that too simple a concept, shall I explain it again. So I've stopped the LCD and dumped down. OK Happy to answer more. Great opportunity for PMO I may add.

Game set and match in one year, OXY the father $100m farmin in life time partner at the hip , GTE the son, Suroriente PUT 8 Eastward expansion coalescence with Amer blocks not just PUT 8 BUT LOOK NORTH other blocks and then the Holy Spirit - CPO 5 the cash that breathes life. All we want now is Linda Lovelace on the Board to digest these acquisitions FFS - Luzzin this. THE Markets will take whatever - structure wise its a buy and hold. Amer GTE on PUT 8 FFS best of all worlds. IMO this has to have the greatest NON Debt POO E&P opportunity out there. No brainer.