Member Info for BaysilHope

PUT 8 is a side show, Suroriente is a producing field with old unattended issues - namely lack of investment -plus with the deal GTE should get both thru the OBA - maybe an RNS TMZ on Oil sharing or soon, !! , Vetra effectively shut down Suroriente with the massive proven Cohembi field reserves - also the Ecop production sharing deal didn't help. This deal frees GTE to re-establish itself in that block as operator with provn reserves of heavier oil - and then kick start Exploration in PUT 8 - I'd like to hear news of blending facilities ahead on the OBA increased production capacity. OBA makes GTE's acquisition more cost effective for the evacuation of Oil - Key here is WHAT HAS AMER SEALED WITH THE DEAL, i.e what benefits did we gain here helping GTE get Vetra - 1. By NOT BIDDING!!! AGAINST THEM - 2 LETTING THEM USE OUR PIPE. News will out.

Apollo Global owning Talos adds another option with Chevron saga , no doubt they want our 25% of Zama and more Block 7 and more all our Mexico blocks - which are 2-3 years away from FCF before capex -ve cashflow, THEN M & A - swap it as part of a Chevron break up deal and we bring forward production, cash, debt reduction and utilise our N Sea tax losses 2 years earlier. Makes sense, DO IT!. VC's are ruthless but when they want more of of WHAT they have, time to press the greed button.GL This will come good for PMO, its suffered the pain now is the time to GAIN from a smart move in 2015. Well Played. GS are just playing the PRE outcome.

There is no way GTE would go smash and grab PUT 8 without an agreed OBA minimum if its going to drill and invest, same OXY, I think JW & GC have additional capacity in RODA Ecuador side of the pipeline news up their sleeve. GTE would not move East with blocks away from their known pipelines. So Amer will soon have to update us as to the OBA plans. IMO they had to keep quiet on OBA capacity to help GTE in their deal making, i.e keep quiet. GLA GN

Yeah, thx missed that comment Thank you, the pieces are slowly coming together and with your City experience on the BB I will watch your comments with mega interest, you did predict Amer 's low and hopefully get this big bird in the air. GLA I'll shut up now. Thank God PUT 8's done. Last point, no doubt Amer would have been consulted on this and - My God JW and Dana have earned their dues and could be operator PUT 8 in exchange for utilising OBA - who knows . Can't wait for a RNS. Happy man. GN

Can't fault you. Cheers.

HNY - I knew their assets were TOO strategic for Amer, watch Amer & GTE get together and we move their Oil thru the OBA . IMO we have had to hold back Plat to cater for GTE for the initial stages on this. This Company is going to blow its lid soon. I'm happy now - and CD that's why I kept on, I was right. And mark my words we can get far more than 9kbop thru this pipeline, deals being done in Ecuador. FFS I'm adding more tmz They are holding back on Ecuador structural deals. more news to follow.
GLA

Point I'm making, Apollo would take the grunt of the cash and sell us off the North Sea bits in part of an asset swap. Remember Block 7 IS NOT JUST ZAMA - there are +5 other real deals and PMO have other blocks so we have a strong base to bargain and TD has done well. That's why I get -ve with BS. I'm fine know, and the GS naskes huge -ves, we are in a great place FFS Don't let them beat down on PMO. GLA US VC want Mexico and we have it Amundo !! PMO held back FFS by GS who are in VC etc

Last point - listening to JW Amer podcast again on the website, Indico can't exist as an independent fault structure due to its size as I posted last night. Calao X1 attempts to prove this. If so look out. These days are not the Pre Rex mush - ONGC need a result here, once C1X is a given second rig deal soon. I'm no Oiler but I understand UPDIP and Oil migration so this entire area is supplied by the right stuff. As JW said the Mariposa find was not properly evaluated - it is now with a 10 day rid turnaround. Soon Amer news front foot. GLA

Talos remind me of VC operators not pure Oil men, Quote deal Look at their view of our Block 7 which includes Zama, Quote Talos, Hokchi swap interests offshore Mexico
U.S. oil firm Talos Energy has signed an agreement with Hokchi Energy to cross-assign Talos’ Participating Interest (“PI”) in Block 2 and Hokchi’s PI in Block 31, both in the Sureste Basin offshore Mexico
Under the agreed conditions for the swap, Talos will assign a 25% PI in Block 2 to Hokchi in exchange for a 25% PI in Block 31, which sits immediately to the south of Block 2. Once the transaction is completed, Hokchi will be the operator of both blocks and Talos will own a 25% PI on Block 2 and a 25% PI on Block 31.
Talos was awarded the Production Sharing Contract (“PSC”) for Block 2 in September of 2015. Hokchi, a subsidiary of Pan American, was awarded the PSC for Block 31 as part of a competitive bidding process on Round 3.1 in June of 2018.
Apart from the Block 1, Talos is the operator of Block 7, where it is working to develop the world-class Zama discovery made in 2017.
Timothy S. Duncan, President and CEO of Talos: “On both of our Mexican assets, we are taking action to facilitate quicker, more robust investment and shorter cycle time to production, and potentially a more material level of production.”

PMO has the expertise of the North Sea but no free capital in the region of $2bn but has significant tax losses to utilise. Apollo proven Talos links IPO, Riverstone and GS. Zama has proved up, first drill 200m Net pay, Zama 2 150m Net pay 2.1kn away. that's a +800MMboe plus field net to PMO IMO, The Mexico Oilfield lottery is the result of Pemex debt $106bn and other factors, a VC ' paradise/ PMO has proved the size of the prize and has a very real bargaining chip with the US VC guys who TD knows. I now I was out of order and sorry but the RI bland issues got to me. No look at the flexible options, with regard to Zama PMO will have suitors and we can deal, despite our debt in constructive ways without killing the goose. The are asset swap options Talos are deal makers- look at their last swaps, so a precedent has been done with Mexican Oil assets, what if we swapped, Apollo front the cash on certain Cehron assets and we slipped thgem Zama. This is what the BB should be looking at not RI regurge GLA I'm open minded, believe it or not. Talos swapped - Block ?? I'll post later. Don't forget Zama proves up the whole Block 7 - 9 yards mind you.

Great post, the truth masked. GN

Commenting on recent share buys - He states - My conviction is there. The value proposition is SIMPLY tremendous. Backed by his +11m of Directors share buy ins and options is enough for me. A regional Play. Calao X1 is an exploration well and is valued as such. For this well to take priority over larger structures such as Aguila and Sol - IMO DYOR means this Could be the Real Deal. If this is nailed- the house of cards will fall as there is NO downside to the next 14 wells. I've taken the Gaugamela high line approach, strong attack with rigid defence GLA GN Last point although not cash, you would not exercise an option committing t6he SP price to fail!!

JW did this before Indico as the BB stated, 23rd Jan RNS, and serves as just a reminder of his belief in this CPO 5 opportunity. Quote Amerisur, the oil and gas producer and explorer focused on South America, announces that John Wardle, Chief Executive Officer of Amerisur, has exercised nil cost options (the "Options") issued under the LTIP over 2,262,000 Ordinary Shares of 0.1 pence each in the Company ("Ordinary Shares"). The Options were exercised on 22 January 2019 and were registered to Tracarta Ltd. ("Tracarta"), a company in which John Wardle has an interest.
Subsequent to the exercise of the Options, the new issued share capital ("ISC") of Amerisur will be 1,215,467,768 shares. Tracarta's new holding will be 33,391,505 shares, representing 2.747% of the new ISC. That's a serious commitment. GLA Not long before news. The speed of the change of drilling pattern says it all to me, 2 immediate in close proximity. It would be great to get through the 22p barrier with honest progress.

Old age slipped my post, the economics of a +100MMBOE find have greater global marketability than 10m and so on and so forth. The Indico group attainable targets marketability will grow to Oil Majors after a certain critical mass has been reached, not yet!! , as these opportunities are more scarce and lend themselves to economies of scale for production for Oil majors . So Indico 1 here is to the market ' Failure to communicate' Thank God its FULL potential, IMO . OXY and so on probably need 500MMBOE to get stuck in. News soon. I forgot scale.

As the BB guys point out - the close proximity of the next 2 wells, seals the dewal for me, both so close either side will send out a statement to the press, it massively Reduces Risk, bring on production and cashflow, prove up reserves, better understand the reservoir and make the case for a second rig. So Calao X1 if comes in will be a game changer, if the results work and push the MM's towards a combined field consensus of some sorts. GN We are 2- 3weeks away. IMO I'm taking the risk of being overweight here, sold some ENQ today, quick return PMO yesterday to bang in here and shoulder any bad outcome. AS JW +200ft - Net Pay +300ft Oil Column compared to M1 thickness and God knows the volume bigger updip full to spill is not isolated. We'll know soon. GL

HI Easyp, I've been here too long to give away a cheap return, this SP in my mind owes me for the pain of 2016/8. For once JW & the BOD are on the right side of opportunity, I mean ahead of it, As f or the last 3-4 years their promises were ahead of actual performance. JW believes in a bigger system for Indico , reading other Oilees reports - no expert far from it, believe there is a bigger play here. The markets view on AMER lives on a cusp, IMO DYOR. The MM's have marked us down for falling PLat output which in their view negated the Indico output addition and took the additional say 6MMBOE of reserves at face value as an isolated play - which in my opinion buys me time to add for whilst the price of a larger system in not reflected in the SP, as HUB said £3m per MMBOE, so its all quits at SP 17p, who blinks first . Downside- if its a poor well and say fall to 12-13p or if like PMO Zama 2 it comes in then there's a second rig more reserves so and so forth. ( PMO SP held as Zama 2 is offshore and won't produce for 2 years - ours will in 1 MONTH FFS) . So bottom line, this process can repeat itself with +6-8 wells, so IMO +30p minimum before I would take some profit, IMO DYOR but add with profit upto 45-50p recycling cash with a cautious eye on retracement. I know its not the OBA PLat story, but Amer could get its market Cap in Cash after tax within 15-18 mths and still have +1m hectacres and OXY as partner. What's not to like and Why sell too early ,Sorry for the long wind. GL Notice it was Indico drill THEN SOL1 as they thought that would be the first result FALL BACK if Inidco was a duster!!!! Instead +8 wells before Aguila and Sol - Sol on the Back burner???? and Sol is a monster and so is Aguila - Amer is on the cusp of a breakout IMO. Imagine Indico 3 being drilled after success of Calao & Pavo at the same time Sol1 is being drilled with a second rig!!?? . Hard to imagine where the SP would be. Patience here is key on the +ve side not otherwise. This is- is IF Calao comes in, if not be prepared as we have done last 2-3 years for a retrace. For me it is the improved quality of find from M1 to I1 is key, updip after M1 full to spill. Risk falls significantly IMO. I'm in.

Zama 1 for PMO hit 200m of Net pay, Zama 2 was drilled + 2.1km away + hit 150m Net pay IMPO this is Key stat for PMO this find - its offshore and a long way from prod'n - 2 years from market but gross +1.5Billion barrels. I used the rectangular model for cubic volume comparison - 'Only as an illustration of the dynamics of Volume matrix ' Cubed exponential potential. I understand - only two well that nature abhors rectangles in natural form, a sphere is more economical in terms of energy quanta and balancing external pressures, a more efficient use of 3d space . Hence no square rain drops. However, if this Calao X1 comes in then at anywhere above say 50m Net pay we have a 10 times volume increase in recoverable reserves - IF CONNECTED !!! . As the OWC has not been hit, if the structure does slope there is compensation. As the BB states , success here will secure a second rig plus a possible +1kbop additional output to boot from C1. The MM's will then realise we are undervalued, as we will have made up our prod'n shortfall and can exit 2019 - if 2 rigs are available +12-15kbopd. There is no doubt less risk here being so close to a 100m Oil column. Interesting point just 2 months ago - for the proposed drilling sequence.
Initial analysis by the Company indicates that a 283 feet gross, 209 feet net, oil column is present in the LS3 formation. The LS3 unit is a high quality sand with some shale intercalations, principally towards the base. The LS3 unit sits upon Palaeozoic basement. In the Company's initial analysis, no Oil-Water-Contact ("OWC") was detected in the wireline logs acquired to date, hence the base of the oil column encountered at the Palaeozoic level represents a Lowest-Known-Oil for the Indico structure. Further updates will be provided as operations develop and the volumetric models are refined based on logging and testing data.

Once operations are complete at Indico-1, the rig will move to drill Sol-1, which is a further 6.5 kilometres south of Indico-1 and approximately 13 kilometres southeast of Mariposa-1. The Sol-1 well will also target the LS3 unit as encountered in Mariposa-1 and Indico-1.n our view the principal pre-drill risk in this well was the presence of significant sand development in the Une formation. The results of the drilling have significantly exceeded our expectations in this respect and of course the very significant oil column encountered means we will have to review, with our partner ONGC Videsh, the resources associated with the Indico structure. The fact that no OWC was encountered is also very positive for the eventual size of recoverable reserves within the structure. Naturally, given this result, the Company and our partner will be reviewing options for further appraisal wells. GLA.

Alexi Sayle - about spivs - Whats that button for there? that's a rear window demister, does a Rights issue devalue the share? Hello John got a new Motor. !! I'm going to fecking spew at this contrived krap. GLA Like monkeys in a burning zoo. I'm depressed at the pond scum krap of DISS INFO FFS the banks have a mega covenant over anything PMO can trade - if they allow a purchase that has to go through 20 credit committees - then its worth doing trust me, when POOO is sub $70. Dissing for New investors with decepatacon shite . Pemex are broke DEA are fighting for Zama and POO plus $66 and rising. FFS GN Sad. Chevron, Rights Issue $3bn purchase - Me the thiord Earl Of Dorset Girls dormitory, with champagne, no sir, are we shorting sir No sir.

You know ONGC better than anyone, Indico 1 Reserves were thrown out at 18m Recoverable - which translates - 1 Cubic Metre is nearly 6 Barrels of Oil, therefore that's 3m cubic metres of oil. Say it is struck at just 25% recoverable, the volume should be as 12m cubic metres of oil potential . Which is a swimming pool dimension's of Indico - We know Indico is 75m deep +210 Oil bearing so the singular Indico Oil pond is 75m Deep, x 400m Wide x 400m wide which is 12m cubic metres. If Calao X1 hits anything close to 180ft net pay and is connected then 18m will jump exponentially to +100MM as its +2km away. I know we have had headwinds of POO Global demand and falling Plat output. If this well comes in anywhere where we would expect our SP will lift and if they can show some kind of connectivity HNY. Plus more than one rig and we get a move on. Bottom line I think 18m P1 for Indico is a joke and a round one to get the City at a low entry level. GLA and JTD you are a top man end. Keep us informed my man. Especially any news of JW 's India visit. Hope he pulled off a deal of some sorts.

The Amer BB I have maxed, GLA Last post GN - Leave the Monkees play out Day Dream Believer HNY We are in here BT