Member Info for BaysilHope

IMO DYOR a multi-faceted timeline contract and exploration chain is being played out. After 6 months bereft of news, enough time has elapsed to study geology negotiate deals with no rush and the OXY deal key, THE TRIGGER where other related investment deals, which have been held in abeyance for this funding commitment, can progress. The too largest plays have been announced and firmly cemented into the business plan, allowing the other positions to be executed over the next 2 months or so. Fingers crossed. IMO DYOR GLA. These will address Reserves and output no doubt. Exit Prod figure 2019, excluding disposals easily +20kbopd. Reserves up with ECU +400%.

The Amer BOD hold the cards when delivering news and seem able to withhold info at will. Now post RH, no need to hunker back and supress ambition. Put 8 outcome before the quarterly production figures. They have to have a coherent update and plan for the 1st week of Jan 19 RNS, to adequately control and explain the Pintad1 & Put 8 loose ends. No doubt these have been resolved, given the management time scale to get deals and surveys done. I think we will have two more updates before the output figures, as PP says don't rush the flow tests, get the best result. As JW said, before the Pint 1 deb, slow and steady gets you to a better place!! I will need 50p SP before I go to the alter and forgive the last 7 months news flow. GLA

Insight PP on our BB - I kept this - well played my man, spot on explains the game. Remembered your your Post - early Nov -pickedpeck = Mine on CPO 5 got deleted no not on my rants but saying CPO 5 was deliberately understated - do you remember a flurry of posts then I #ve saved some - I got in early with this . Quote -PP One last thing (before going back to the day job!) - Contracting just about the largest mobile rig in Colombia to do this drill may indicate why it has been slower than expected, there are only two others at this size in Estrella's fleet and they are both AC rather than DC, i.e. need a very different power source set up before working. It also indicates this is a pretty damn serious hole they are planning. There is no way they would use a rig this size on a small prospect, there are plenty of much cheaper options. This is the rig being used to drill Indico - http://www.estrellaies.com/en/flyers_2014/equipo_2029_eng.pdf , just looked it up. 2000hp is a pretty big rig, I think it may be 3-4 x the size of the rig used for Mariposa . From the cost it looks like this will be a high horsepower rig so may only take 20-25 days to get to full depth vs the previous 38. The allow 10-20 days to move position and set up. Optimistically you may get one hole every 4-6 weeks. ONGC do move rather slowly though (!!!!) so probably more like one every two months. PP - from Bays you were spot on. Please keep up that input for us no riggers. Cheers

I think you are on the wrong BB, try shorting elsewhere - HVO . Positive input Yep , don't take the Pexx. GL

CPO 5 will be world class - & accelerate AMer with negotiations in ECU and expand OBA with economic influence post OXY deal. GN GLA

Could be a dream come true, PMO Zama is a monster but straddles block boundaries and off shore, still mega oppo. Our Net Pay 2010ft theirs sat 700ft but we have not reached our field boundary with +3 drills and highly valuable light Oil. I'm glad the SP is slow, I want slow and steady - we are not yet discussing anything in our other areas. The BOD did this delib to minimise RH, but this was a bit obvious with the M1 success- not this good obviously. 2019 Exit output +25kbopd Min ex a sale. HNY.

As I said with many others we have a Sweet spot in CPO 5 which could be potentially massive in value terms and a discovery of global mention in the time frame when major offshore events are postponed, we are low risk, low cost, I'd rather FARC than deep water bad weather. Quote from ADVFN post & thx "The LS3 sand package is the same formation which holds the 120 feet oil column discovered at Mariposa, which lies some 6.5 kilometres to the North West of Indico-1. The Mariposa well has produced at a stable rate of approximately 3,200 barrels of oil per day in natural flow from 10 feet of perforations near the top of the 120 feet oil column for over a year, during which time it has produced over 1.2 million barrels of oil with no significant water cut, which remains at 0.05%." Assuming that this drill is all part of the same field, then it is a massive find, if the next drill also comes up with the same result, that would make this a world class oil field. IMHO

To research.

The drilling is NE to SW directional - into the block, from the outer edge. Listening to JW talking about Aquila 20MMbe and the continuation of other structure on the trend line into CPO 5. This block will be a famous national asset discovery and unlike the Permian, there's little lifting costs, minimal chemical management, no water content or excess fluids and chemicals , which adds cost and waste and pollution. Our top grade oil; quality sets this asset apart. Looking at OXY accounts, Colombian fields earn their greatest margins. They've tagged us with one eye on this development at 500k acres - if these turns out anywhere near we expect or hope this will get taken out. M1 can ramp up, Indico could be +10kbopd plus 2 more x 5k, that's over 7kbopd to us and high value, there's not enough civil's in place I guess to store or transport it hence part of the wait. There will be more wells added no doubt, so we could enjoy multiple simultaneous drilling sooner than we think. You can see +40kbopd easily next year gross from this block and not even scratched the surface. No wonder they delayed this for 12months and played this down a treat, its too big to rush. GLA

With this positive discovery, Amer can be aggressive in cementing ALL forward plans - OXY was Cash backing, Indico =Profit generation and reserves management. No one now should question either, put that monkey to bed. Amer is now clear to attack oppos in ECu full on with investment. Bid timing perfect. IMO DYOR in 3 months you will not recognise the business forward planning model for this company. Off the charts, in terms of opportunities. GLA Last post GN.

Cash flow +ve at $45 POO, +$60m Cash in hand +5p a share, No debt, $100m Major Backer taking off future risk on frontier - i.e long stop developments. Mega valuable light Oil 41 API FIND second well with mega High COS for next 2 say 210ft Net pay 100MMboe 30% $5/b = $150m, able to pay a dividend = Cash & positive Revenue reserves. 12 Well drilling prog now COS lifted by this success- TRUST. Will exceed +$25m Profit before tax 2018. U & T sand discovery Pintad 1 not priced in. Increased capacity OBA opportunities in Ecuador. PUT 8 and Mecaya LTT on existing well, major Disgruntled seller gone, massive BOD purchases, high II' positions and 13.3p or £165m Mky Cap. They greatest risk holding this share is listening to the short positions who IMO DYOR are skating on thin ice now Indico is in and more to come Short term tests - a 5inch Perf 11kbopd - not worth putting a condom on, it will blow your socks off. . What saved them, Shorts todays was Oil $59 from $85, Brexit and some Chinese Carpet Bagger moving cash to Iran FFS - simples. Keep following the Light Oil road mega value, just accumulate and in time you will meet the Wizard, a PWC tax Partner. HNY If the find was 9 API sludge yeh, but WOW this is the real Kahuna baby. Just add slowly as the POO bear will unwind in time. This is undoubtedly a true game changer and the BOD can now publish RNS at will, no need for OMD's. GL

Thx that's want I wanted to clear.

In Colombia tax is paid on royalties, min 8% and Corporation tax + the surtax has fallen from 6% in 2017 to Nil in 2019 to stimulate investment and grow the E & P sector. So you don't pay tax on reporting reserves, it will be too late for 2018 anyway but the market will realise that reserves have grown materially for 2018 in all directions. GLA

Sorry ML couldn't make it, the other half Made me go to work!! Makes sense now by leaving Mariposa 1 choked down on 15 year LTT, not to give too many field characteristics away, allow disappointing Reserves to cap the SP for RH whilst planning the value added work. We always knew M1 was held back, that great 41 API find has given way to a Megalodon of a discovery. M1 can now be progressed unimpeded and this could be the find of the last few decades, if the next 2 wells show the full extent of the field size. It exceed what I thought\guessed and the SP games will eventually catch up with economic reality. I expect 2 more field news before New Year, Pintad 1 and PUT 8, all adding to potential output and reserves. Guess there WILL be a 2019 dividend, question of how much, not when. This is a monster find and we've only scratched the surface of CPO 5 - I've criticised the BOD for false prophecies but WHAT A PURCHASE, makes Bitcoin look stupid. GLA HNY. Superb result.

Good Shout!!

ML I'll text you and get one in. This could turn out to be one of the biggest potential finds in Col for a decade or more!! Last post. Celeb time! HNY earlier than I thought with MORE NEWS to come as well and soon.

I'm off to JG Wethers no work today!

Just absolutely loving it. Val'ns on CPO 5 anyone? - with x 2 more to go. This is a huge find. GLA

Mariposa1 - withheld info - If I have net pay 10m deep in a reservoir 10m wide and 10m long, the Cubic volume is 1000cu metres. if its 100m thick and so on it a 1000 times more massive . INIT!! Down played or what Our reserves should be up FFS,

Total Guess, IMO DYOR M! drilling came out better than anyone could have ever imagined and has been down played throughout, elongated LTT, No reserves posted, with RH on fire disposing fire sale fashion, a BOD Strategy with ONGC play it down, but understand they have a TIGER BY THE TAIL. 100FT NET PAY 5KBOP CHOKED down, Me the Third Earl of Dorset in a ladies chamber? !! I think we are on to a monster and the last 6 months CPO 5 RNS delays are all about marketing it for Max Value. HUGE GLA HNY