Member Info for BumblingFool

No it isn’t, it’s day 32. However we only got 2 RNSs last time as first was in response to media speculation. I’m expecting news by 15th of March.

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that the spudding of Calao-1X, an exploration well on the CPO-5 block using rig E-2029, occurred on 1 February 2019.

Good find!

I had no trouble buying 22211 shares @ 16.48 showing as sell on LSE.

Further to the Company’s announcement of 7 February 2019 relating to the SFO investigation, we provide the following update.

We reiterate that no charges have been brought against Petrofac or any other officers or employees. No current Board member of Petrofac Limited is alleged to have been involved in relation to the admission of offences by a former employee on 6 February 2019. In the absence of any charge or credible evidence, Petrofac intends as a matter of policy to stand by its employees.

Whether further charges are brought against former or serving employees, or the Company, remains a question for the SFO. Petrofac will continue to engage with the SFO and will respond to any further developments as appropriate. We are focused on bringing this matter to closure.

The Company has the utmost respect for the robust, highly structured and rigorous processes of its clients. We only expect to be awarded business by submitting the best technical and most competitive commercial offer.

The use of agents in the industry remains common practice, and in some countries a legal requirement. Petrofac has comparatively few agents, having phased the majority out as the business established its own regional and local infrastructures.

Just been skimming over this article on Geopark. Fair bit of analysis about valuing reserves etc. Thought fit quite interesting

https://seekingalpha.com/article/4240136-geopark-compounding-oil-gas-reserves-machine-hugely-undervalued?ifp=0

Give fair value estimates on 3possible outcomes

Last 4 paragraphs of article

https://uk.webfg.com/news/news-and-announcements/petrofacs-ex-sales-chief-pleads-guilty-to-bribery-charges--3730665.html

No I’m not happy or unhappy about the performance here. We pull off the project start making loads of cash SP x 8+ easy. We don’t it probably a bust. We don’t have revenue to cover costs we didn’t when. I bought in we still don’t when I bought more today. The spread is huge and SP movement although looks dramatic almost never moves enough that the spread would allow exit in profit. It’s a wait nothing has changed.

If your so unhappy, sell up and move on

I’m not expecting drill news till March drill started on first going to be 40 days ish, We will be lucky to hear before 10th of March. There is a possibility of news on workovers but I wouldn’t hold your breath. 2nd and or 3rd rig news could be in next week or so or not depending on how mutch of a hurry ONGC are.otherwise with OXY we may do something in Tacacho or Terecay in Q1 but Q2 more likely.

Do not panic. On what basis do you get 20p what MC would that be? What level of production supports that MC what level of 1p and 2p reserves are you expecting to justify your 20p prediction? Or so s it just a wish ?

He can’t stop himself grinning when he talks about Indico

The market opens at 8

Conflict with locals

https://mobile.twitter.com/HCarbonsCol/status/1093576177258770433

When investigation was announced we got down to 350. The main reason it fell so far appeared to be the assumption that it would negatively impact the winning of contracts. This proved not to be the case and the business is in much better shape. If PFC was to be implicated and fined circa 200million was touted as the maximum which back then gave a fair value around 650. Which we eventually reached, ( sold a few, thanks very much). Must admit I haven’t had time to read any analysis this time but can’t imagine the prognosis is much worse. I added today at 4.03 which I’m happy with. Short term risk I see as low as 350 but I think this unlikely. I recon we will be 430 to 450 within 10 working days but we may well stagnate there for a while until further news.

30% drop seems excessive, I’ve added today !

Not at all Margret I was very tempted to sell a chunk around the 20p mark as at the time I thought a retrace to 18.5 was on the cards, but I also thought it might be a pause before pushing on again. I’ve done well having a core holding and a trading holding elsewhere. I haven’t trusted my instincts on calling peeks and troughs here though. Such an approach not only helps build a bigger holding it makes the troughs much more palatable. Maybe I’ll catch the next peek!

And many more of us wish we had lol

No 62% is leftest including Canaccord and directors from today’s presentation

Ade I read that slide also interesting if compare it to last August major shareholders you will seee they are pretty unchanged with the exception of Canaccord who now hold 8% and didn’t previously feature. So it ca be assumed much of RH sells have been getting moped up cheep by them,

Ade I feel your pain I hate it when my investments don’t pay off within hours. Lucky such disappointments are few and far between