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Shale - US Red Adare -I just think back of when the CEO of Shale was John Wayne & Kirk Douglas at a production meeting - Mental Business model, Pump at all costs no macro economic clue - still great oppos, yes Trump Shale have given a deflationary pressure last 2 mths but has become an unreal market. When you add discount at the Permian and Bakken pump for pipeline restrictions - you wonder did we send our best out of Europe in the 18th Century FFS THis is Algo Volatility at its best, some will get hurt and others gain, Look for the Amer faithful understand these movements they will be there when logic does not defend the reasoning, its called profit and greed, never get too exposed, hold cash for a buy in when the blood letting subsides + THE BARRIER - YOU NEVER THINK IT WILL HIT BOTTOM AGAIN !!!! be careful, never commit to a BAy of Pigs Cuba . GLA this is a cruel world, but from my point of view I'd rather this so much more that I don't have to kiss the EX good night or Nor suffer maintenance - the Feckka with her new Hubbie 12 yrs ago ish GL son watch your back - HNY

World demand doesn't collapse over night unless its Day of the Triffids, Supply has been constrained start Jan 19, US Shale is losing money at sub $50 with supply choke lanes to sort we are doing OK. THis is the New era of meg volatility, so Up and Down Pop goes the wezzle as Ferms used to say. Brave new world but when it comes to making profit absolute sense, if the Dow & LSE can't in 12 mths create a trade that can = make trading profit but Exaggerating Risk and demand = Volatility - so if the index is flat - if you can create 5 disaster recoveries in 1 year = Rich POO will be oversold next week IMO DYOR HNY

If you've lived thru the trauma of Refinancing, Net Assets of a Pixx pot, mkt cap of a corner shop, praying for the mthly extension for the forgiveness of missing contractual banking covenants. held at knife point at the CBH sacrificial alter of the WVAP SP, knowing any improvement are months away, - shorting with $50 POO, hedge funds up to your waist, No Catcher - having an MOT stuck in Scotland and Andy P - sorry mistake, this is great fun now - with PMO +100kbopd and hedged, with asset sales coming through and a nearly totally manipulated distorted oversold Oil market. I did test my pants a little early, but now we are close to bottom, , EIA will be the key tmz, even so sub $56 POO shorting is dangerous given open cuts 1st Jan. GLA You have to evolve and learn to love manufactured volatility, trouble is you become paranoid. HNY GL:A I'm buying tmz.

Amer has been a limited One trick Pony for too many years within the Press and Shorting Community with great success . The BOD Skill and yet massive skullduggery has been to keep the market focused on that Achilles heel and divert or create ignorance as to the other meaningful developments until RH gone. The key to unlocking Amer value is therefore to expand the business into real production and reserve game changing opportunities that are fact and not Jam tomorrow. I think that inflexion point is very close and once hit a true re-rate. Amer lacked scale whence reliant on PLat for sole prod'n. Mariposar - the pawn buying time to unleash the beast, soon the opportunity cascade will over flow and we will jump scale from conference to Premiership within 6 months. If the deals continue to follow Amer could be 12-15kbopd by 1st July, with +6-8 drills underway - transformational after the acquisition deals are complete. If successful, a divi is next on the agenda. HNY

Sorry last post I meant NO Doubt Amer increasing incremental capacity etc etc. One major pipeline point, supply chain link, in all honesty a $4m Chiritzo pump station is a gesture!! If we get a pre ssale MOU from GTE to utilise the OBA, that will free up resources to challenge PetroAm and get a material OBA RODA capacity increase DE RSIKED. So Amer could commit $15m on the OBA fund Put 8 and all other things Now the OXY deal in place and not worry about $60POO to throw the plans in the air. We are good to go Houston. Plus GTE needed a strong PUT 7 signal from drilling to tick the acquisition box and justify such a supply line OBA tie up. That's the delay as it involves supply line considerations in both countries and lead times, not just all about drilling. Last point HNY IMO DYOR GLA. We are nearly there.

If and Only if we cut a deal with GTE on Vetra, whatever the shape they will probably commit if there is a minimum guaranteed pipeline capacity, so IMO that needs to be at least 10kbopd within 12 months , so now doubt Amer have been upgrading RODA under the cover of darkness, as GC said simple modernisation will in itself create incremental volume increases . Be interesting to see the next development on this aspect of the OBA will be and it won't be too long. GLA

Great news today for GTE Put 7, 3D planned for Alea 1848, so that's the East encirclement of Sur Oriente + PUT 8, GTE only half 15.8% os Sur Oriente with proven output and reserves. Whilst Amer drilled Pintad 1 to the East, carrying out seismic PUT 9, which in turn cover the Vetra blocks 180 degrees encircles it - West to East. As this activity continues, Vetra E & P cost clocks continues to run down whislt its debt increases . No doubt in my mind, GTE & AMer working behind the scenes - if only not to duplicate drilling information development but starve Vetra from any assistance, GTE by not working the Sur Oriente block and Amer NOT Utilising the drilling option from Sur Oriente for the first well in PUT 8 which mysteriously could pulled, not because there's no cash nor planning perms but highlights the lack of commitment from VETRA to spend any Capex and force a drill, which says a lot to me. as there were saving costs, which could have happened 4 months ago. Could be Vetra were holding out for PUT 7 to get a final number, but the clock is ticking IMO DYOR, this deal could unlock a lot of potential and joint business opportunities with GTE and we need more pipeline capacity NOW HNY GLA

Vetra in a weak position, LOI expired Amer gets stronger since OXY deal , Quote 25/09/18 3 mths ago and nothing!!! Put-8 Miraparriba-1, Colombia The Company understands that the negotiations with Ecopetrol continue to proceed favourably and expects to be updated in the short term regarding the drilling of this well.

NSE Further to the Corporation's press release dated May 31, 2018 with respect to the letter of intent (the "LOI") with Vetra Energia, S.L. ("Vetra") for the acquisition of certain producing and non-producing oil and gas properties located in Colombia, the Corporation has been working toward definitive agreements and the closing of this transaction and the related private placement. The exclusivity period under the LOI has expired; however, the Corporation is continuing to negotiate the terms of a potential transaction with Vetra and expects to issue a news release containing the updated transaction terms in the next few weeks. Due Soon, plus PUT 13 thrown in. HNY !!

Music - George Harrison Depth , While my guitar gently sleeps about religion - covered i.e Santana, & Paul McCart Band on the run commercial SXXX. So with CPO 5 we have both , Indico 1 commercial M1 depth & 41 light oil. HNY, as an aside games were played today but unusually Amer ended up on a high Why - PUT 8 Monday RNS = HNY Full to spill baby - that's me around about bedtime. Luv you Oliver. And all along I thought CPO5 was in Star Wars FFS. Missed the Company Xmas do tonight - POO too low to go out!!! Huncker back and whack in a few more baby!!

Franklin replaces Browne at Cuadrilla John Browne has been replaced as chairman of UK shale player Cuadrilla Resources by ex-BP man Roy Franklin. GN Happy now all fits.

2015 -- ish ? Quote Amid a nervous market, Premier Oil is in demand after taking full ownership of a project west of the Shetlands. The oil producer’s shares have climbed 4.7p to 160.9p as it took over a 40% stake in the Solan project - due to start production in the fourth quarter - from partner Chrysaor. Under the terms of the deal Chrysaor will be entitled to payments of up to $3m a year and royalty payments up to $100m offset against a $530m loan relating to capital expenditure for the field. Premier also agreed a $100m contract with FlowStream Commodities for the proceeds from 15% of oil production from Solan for a certain period of time depending on crude prices and production levels. In a hold note, Stifel analysts said:
We value 40% of Solan at $565m which suggests the transaction with Chrysaor is overvaluing the stake slightly. However, given that refinancing of the loan to Chrysaor appeared to be proving problematic, Premier likely now has greater flexibility to farm down Solan to boost the balance sheet in the near term. Mark Henderson at Westhouse Securities said: The market may initially be pleased that Premier has bought out its partner in Solan as there have been concerns about Chrysaor’s ability to fund its share in the project, however the utilisation of a pre-production financing facility might also suggest that funding options are starting to get stretched at Premier. Chry Owe POM a favour no doubt. HNY

Thanks Goldenbadger1, I won't clog the busy BB - one last point I forgot, will dig out on weekend. Chry were in deep trouble 2014-15 and we took one for the team, their Private Equity then and we up against the wall. They could forgive future royalties for a prod'n swap etc etc there's commercial interface here, but I need to remind myself of the detail. Always liked PMO, I know the risks - but TD did a great job thru the heartache- I lived thru it One RNS at a time, the 1 moth extension Jesus - way in the past. But the latest Trading update did cheer me to get back in, 100kbopd, Catcher managed like a dream and Zama appraisal soon with Debt falling. Sterling US helping. I'll shut up now but Thks GB1 GLA Need all the POO bear excuses to be put in cupboard. Fingers crossed. GN

Quote detail - Solan update 2015

Cash spend to 31 December on the Solan project stood at $1.4 billion. Premier is funding partner Chrysaor’s share of capex in return for 100 per cent of the field’s cash flows once on-stream until the loan and interest has been repaid. Meanwhile, Premier continues to work with Chrysaor over the partial refinancing and/or sale of the loan to Chrysaor. As at 31 December, the outstanding loan and interest stood at $547 million.

02 Jun 2015
Joint venture transactions
Premier is pleased to announce that it has concluded two separate transactions in relation to its operated Solan project, West of Shetland.PMO
Premier has acquired Chyrsaor’s 40 per cent interest in the Solan field for nil upfront consideration. In return, Chrysaor will receive the following contingent payments from a notional 40 per cent interest in the field’s net operating cash flow:
• A payment of up to $3 million a year which will be offset against any subsequent royalty payments and net production interest (NPI);
• Royalty payments totalling up to $100 million after allowing for repayment to Premier of the notional outstanding loan of $530 million plus accrued interest;
• A NPI once Chyrsaor’s notional 40 per cent equity interest reaches a net positive position after allowing for the notional repayment of the loan and accrued interest and after deducting Chrysaor’s notional 40 per cent share of total project capex, opex and decommissioning costs.
As a result of this transaction, Premier will consolidate 100 per cent of the Solan field’s production, revenues and capex in its financial results. Premier currently estimates that the royalty payments and the NPI would become payable at an average oil price above $75/bbl and $100/bbl, respectively.
Separately, Premier has entered into a $100 million agreement with FlowStream Commodities, subject to DECC approval. FlowStream will make a $100 million upfront payment to Premier in return for the proceeds from 15 per cent of Premier’s production from the Solan field for a period of time, the duration of which is dependent on the Solan field’s production levels and future oil prices.
Tony Durrant, Chief Executive, commented:
“We are pleased to have concluded these new arrangements over a key asset for Premier. The agreement with Chrysaor enables us to focus on delivering first oil from the Solan project without partner funding concerns, while the transaction with FlowStream reduces our balance sheet exposure to the project and releases capital to fund completion of the development. We continue to look at further opportunities to realise value from the project.” Last post back to Amer GLA I;ve bought for a week or so Cheap!!!

Last post - All said and done, with +8% Royalties tax overheads etc you NEED cost savings - which are key, so as Prod oppos increase so do Supply line options, low cost and we have First mover Advantage- expect plans for material sized increased output options soon, especially with ECU developments GLA

Amer are bidding in Ecu with Q1 2019 the results Q2 , the ECU\COL bilat govt strategy is about getting Col Oil through ECu redundant mega pipelines and offering reduced risk. With the OXY deal and fingers crossed Ecop +GTE on board we could be offerd some considerable concessions in ECu and pipeline access. Great times, if its 14-16 p to a tru PI that's not the Deal FFS - this baby is a +8 bagger within 12 months IMO DYOR and can pay a Divi, unlike GTE & GeoP . HNY.

For the New Rich Amer STH, PUT 8 drilled from Vetra + Ecop + GTE concession Quote - see previous 4 posts for continuity this was the lie that was 4th April but later will turn into a butterfly - Quote Put-8 Drilling (50%, non-operated) 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. The Miraparriba structure is a low risk U and T sand light oil structural target covered by 3D seismic with gross P50 recoverable resources estimated at 4.4 mmbo by the Operator. The well is expected to spud in early May 2018. Put-8 is a 102,799 acre block which lies adjacent to the west of the Platanillo field.

This historically farce needs economic rationalisation. Vetra Operator of Suir Oriente & PUT 8 not invested for 4 years output collapsed maybe too big a deal for GTE with $300m committed elsewhere to wing in. History Quote • Colombia Energy (“CCE”) in which Vetra holds a 69.5% interest and Petroamerica 30.5% interest. CCE holds a Crude Incremental Production Contract with Ecopetrol on Sur Oriente which entitles Ecopetrol a share of the block’s production which is determined by an R-factor. Petroamerica’s disclosure notes that Ecopetrol is entitled to 52% of production; the remaining 48% of production is shared between Vetra and Petroamerica per their interests in CCE. The block produces from three fields (Pinuna-Quillacinga, Cohembi and Quinde) and in 2014, gross production was c.14.3mbbl/d from six wells. Bottom line - Ecopetrol & GTE need to play ball here, otherwise these blocks remain fallow - under utilised and lose money as long as Vetra hold operatorship, no good for GTE nor Ecop . I think we have a deal soon before end of Dec . HNY GLA

GTE acts like a large python that is having difficulty digesting its prey, it should be getting super charged output now 3 year s on , even with $300m capex p.a. It struggles with limited transport , a trapped cost structure and take over hangover debt. CPO 5 in theory could Net Amer +$150m free cash on sale and within 2 years AMER could outpace GTE IMO DYOR with acquisitions in ECU and further successes in PUT9 /12 Mecaya, Pint1 et cetc. So IMO why PUT 8 is key, GTE need a leg up. Doing a deal in Suroriente with Amer , Vetra and Put 8 gives
GTE access to savings and shared infrastructure costs, de-risks the East boundary for them. GTE are drilling PUT 7
to the West of PUT 8 and Suroriente and Alea 184 which is North West of PUT 8 both prospects accessible to the OBA. They can't take on another course of indigestion GTE, unlike AMER with the OXY deal frees us to negotiate from strength for these assets and for the first time, Amer have the potential advantage, i.e Backer, Cash, OBA + a fully committed bid rival. GTE need help IMO to break the legacy shackles of too burdensome acquisitions. I thought they were stronger than they appeared. But +2m acres carries mega E & P commitments. News soon and a JV in Vetra Energia assets would be the Ice top of the cake. Last post. Doing a deal with AMER makes strategic sense and Dana Coaff baby only knows GTE too well and their weaknesses - expect another tie up soon and watch the drill results for GTE. HNY GLA

Unlike Amer which has added slowly and carefully taken 6 courses to get up to speed, see previous GTE swallowed companies of a same size without the capital base. Current drilling - close to OBA. • Exciting second half 2018 exploration well drilling program in progress:
o Chilanguita-1 well on the Putumayo Alea 1848A Block has been drilled and cased; testing of the A-Limestone and N Sand is underway
o Exploration drilling is underway at the PUT-7 Block where the Company is currently drilling the Pomorroso-1 well at a depth of 10,106 feet, to be followed by the Pecari, Tajinos and Northwest multi-zone prospects which all target the A-Limestone and the U and N Sands. Amer moving West, GTE moving East with E & P.
BOTTOM LINE, GTE OUTPUT LIMITED 36KBOPD TO SERVICE DEBT & THAT ACREAGE FFS. Whilst they look great, one weakness of O& G accounts, is they don't delineate the contingent E & P drilling block capital commitments. IMO DYOR GTE have NOT TURNED ACREAGE OPPORTUNITY INTO CASH. sEE 3

GTE reacted in 2015 to cheap large acquisitions, which they have been trying to absorb for 2-3 years. Massive acreage, huge E& P commitments and non optimal transport solutions. Quote some history:• GRAN TIERRA ENERGY INC. AND PETROAMERICA OIL CORP. ANNOUNCE AGREEMENT FOR GRAN TIERRA TO ACQUIRE ALL OF PETROAMERICA’S ISSUED AND OUTSTANDING SHARES
•
•
• All dollar amounts are in United States ("U.S.") dollars unless otherwise indicated.
•
• CALGARY, Alberta , November 12, 2015 - Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (TSX and NYSE: GTE) and Petroamerica Oil Corp. (“Petroamerica”) (TSX-V: PTA), both international oil and gas companies operating in Colombia, are pleased to announce that they have entered into an arrangement agreement dated November 12, 2015 (the “Arrangement Agreement”) whereby Gran Tierra has agreed to acquire all of the issued and outstanding common shares of Petroamerica by way of a statutory plan of arrangement under the Business Corporations Act (Alberta) (the “Acquisition”).
• ACQUISITION HIGHLIGHTS
•
• Acquisition of before royalty, 4.5 million barrels of Proven and 8.1 million barrels Proven + Probable working interest reserves, based on an NI 51-101 compliant report prepared by GLJ Petroleum Consultants Ltd., as at December 31, 2014;
• Approximately 3,000 boe/d of working interest production, composed of approximately 60% Llanos basin production and 40% Putumayo basin production;
• Approximately 2.2 million gross acres in Colombia (0.8 million net acres), including approximately 0.5 million gross acres (0.3 million net acres) adjacent to or near the Company’s current acreage in the Putumayo basin, which management believes is prospective for the emerging N Sands exploration fairway;
• Enhances near term exploration drilling inventory;
• Significant opportunity to realize synergistic cost savings through a reduction in general & administrative expenses and tax planning opportunities;
o