Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
JTD it's nice to see a long term holder bring the board to account with a view point based on fact.
Know you've been here a while like myself, i'm going to give the RNS another read through as I might have missed key pieces of info.
Started to filter the people who only view this through rose tinted glasses. Maybe i'm still remembering last years early months RNS's regarding drill programs with excitement only to be vastly disappointed come December.
Lets hope for more info on drilling plans for the next year. ATB.
I did expect a re-rate.....The thing that hasn't changed in 3 hours is the share price......!
Also i'm not the market, i'm giving justification as to why I think this hasn't re-rated. Tell you what i'll add you to the filter list since your clearly just trying to wind me up.
I think my stance has remained constant like many LTH.....
I've given my view on company performance and share price on a balanced view. Highlighting areas where i've seen issue and praised where I thought they've done well.
I suggest you take your rose tinted glasses off, or maybe your just trying to ramp the share up, i've got no time for rampers, I want to see long term sustained share holder value added with a drill program thats delivered, not "expected drills". I "expected" more drills this year for example and LTH will know how that turned out. Most will also remember the exit rate for last year. Yes CPO5 is adding significant value, Amer should clarify that it is no longer not considered to be outside of the core assets and is not for sale.
Oh god I give up.
I'm not going to keep correcting you if you have no concept of oil production,storage and transportation.
If you can't see the PRODUCTION drop off in Plat over the last year then i'm trying to lead a horse to water.
Anyone remind me of the exit rate last year? Oh....... How many drills were we due to drill this year......Oh.
This is why the market isn't responding to the RNS as expected, Amer need to deliver what they have set out and until they do we won't see the share price fly.
DYOR.
Plat's production ONLY goes through the OBA (Amer no longer truck any oil). As i've mentioned previously, the numbers on that website have proven to be correct.
Justification for the lower production is due to the Gov taking their barrels from the well head as mentioned in the RNS.
Another big positive is confirmation they are working on tariff deals, i've wanted to see this for some time.
All in all, a very good update from the company. I have been critical of the previous RNS's from the company creating more questions than answers, but if this is the quality of 3 monthly updates then this is a vast improvement.
Expect a re-rate this morning, given the drop over past few days I was expecting bad news. Think this could break 25p today.
Well done Amer, keep it up.
Looks like the website is guff?!
Errrrrr looks like it confirms what we are putting down the OBA....
You miss understand what I meant, I mean the inefficiency around truck offloading opposed to direct pipeline, loading time, transfer time, ect. If CP05 is as big as we all hope then they will be looking at pipeline transfer options as its most cost efficient.
Yes, because CP05 is sold direct at well head.
I'm wondering if the wells at CP05 are choked back due to this selling arrangement? Wonder if they are looking at pipeline tie back's in the region (i dont know what is nearby).
Roll on next week, hopefully they will give us all a clearer picture!
Fingers crossed i'm wrong, and all is rosey but maybe i'm just getting pessimistic after being a 3 year holder of Amer.
They have previously said they are no longer trucking oil, so if it's not going down the OBA, after we have had an agreed increased capacity I have to conclude the the production is very similar to the OBA through put, no? I dont believe it is a pipeline issue downstream of the OBA as the pumping station has been completed and even if it hasn't they are putting down half what they were.
I'm not insinuating there is a production problem, i'm saying there IS one to see the drop off. This has been offset by the great CP05 wells.
"We await the quarterly update but it is not late and so communication is not poor."
The details omitted from previous RNSs consistently over the past 3 years have often raised more questions than answers, I don't think i'm speaking out of turn in saying that most LTH would agree with me with this? Anyone remember last years drilling "Campaign"?
Amer previously stated that CP05 is not in their core assets moving forward this was before the last drill, have they come out and said that this has changed or are they still looking to sell it? I would personally think it would be a massive loss to sell this block until we understand its full potential even though it is out of the area. Most oil platforms around the world are not owned by a single company (older assets tend to be as partners get bought out). Amer's share of CP05 could be worth alot more than the current mcap of the company.
Mentioned this previously, all CP05 production is actually 20% net back to Amer at the minute after tax's ect (maybe a little more as wells come online but currently) so 15k production would be about 3k net to Amer (See john wardles last interview).
The Occidental campaign is more exciting to me that CP05 moving forward due to the strategic value of the OBA, if we can get anywhere near to running that at capacity then we would be looking at the fable £1+ share we have all long hoped.
To say your not concerned at a 50% drop in plat production (if it is the same as OBA throughput which it has to be give or take) is a bit daft no? There is definitely more positives than negatives here long term, 2019 is a big year for us, but most of us though 2018 was going to be a big year..... GLA.
Like everyone we just want answers, I would of thought our new communications lady would have helped improved comms but if anything it's a side step at best.
Onto next week, is this drop the usual leaky amer news drop?
Good post, but if they are trucking oil....why are we not using the OBA?
We are both guessing, which is the problem, uncertainty is never good for a share as i'm sure we can both agree.
Find out next week, I hope i'm wrong!
Good analysis but remember, we was still trucking oil at this point (as many long term holders will remember).
This will be the difference. Production and through put through OBA are directly linked as we no longer truck oil, we only have so much spare storage capacity which would be full if there wasn't a production issue due to the extended period at 2000-2400 barrels. I'll have to check my notes for installed storage capacity as I can't remember off the top of my head.
It seems like the decision to move to 3 monthly reporting seemed coincide with the drop off. Decisions, like this, and it's not the first time, directly influence share holder confidence in the board.
http://www.controlhidrocarburos.gob.ec/wp-content/uploads/producci%C3%B3n-fiscalizada-petro/
You can cycle through all the months and days from present to years ago.... It just looks like far too much effort to fake. Edit the address by going back by deleting up to the slash. When did the oba come online again? Date? I'll check those days on my phone atm. I basically got a load of abuse when I raised this, clearly something is wrong and they aren't telling the market, but the info is there. CP05 offsetting willing miss information by the board, if it wasn't for CP05 we would be back in to low teens on this market sentiment.
JV partner pays amerisur tariff on their share (i.e. if 10k is produced then 5k has tariff payable to amer for export.
It's same old problem with Amer, RNS's add more questions than answers, they give time frames that are not followed up on. Production from Plat still poor 2213 yesterday, and this hasn't been addressed in an RNS, The only reason we have held up is thanks to CP05. Please board if you are reading this give us answers around the collapse in production at Plat. Update on Chiritza why are we not utilising spare capacity with a tariff deal if production has tanked to 2k a day when we have 9k capacity? 2 months wasted capacity 6-7k x $6-9 a day, are facilities installed not sufficient? Stop telling the market you will update in 4 weeks and then go radio silent.
I'm not deramping, I already hold substantial % of my portfolio in Amer, i'm frustrated we still have same old problems despite some cracking news. I hope the quarterly update will give a COMPLETE picture of operations and not omit parts.
Time will tell, think we can expect Ops update early Feb but might be sooner (it's 3 months to the day roughly today).
Use this in future calculations for return from wells. Not bad considering, £10 million a year per well potential.
Oh my mistake.
Forgot how much of an expert he is "buy buy buy".
The group started off well with insightful discussion but soon turned into a copy and paste ramp fest that not even Malcy could stand. Actually in a group with industry experts like myself now which fill my gaps in knowledge quite well when it comes to drilling news.
Funny how quite a few of my predictions regarding the plat fields have come true, but what do I know only been in the industry 15 years.
Notice Laptop's not posted recently? Assuming hes moved onto the next pump and dump?