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their investment in Mariposa has been: "Your Company�s share of investment in the project was ` 3,851.10 million (USD 69.53 million) till 31st March 2017." That's a fair chunk of money considering what Amerisur paid for a 30% share and an apportioned amount of tax losses. The junior partners investment should be of the order of 3/7 x 69.53 = $29.8m. Plus the money spent since March 2017. Even a cost price the asset should be valued at $30m+ Now it's producing oil at a very respectable rate , who knows, what is clear though is that the market has dismissed any value associated with it.

Rebel talks started today in Ecuador, shouldn't be any trouble from them for a while now. Talks will probably take a year or more and the Pope might have a role in sorting this one in the end, as occurred with FARC. Apparently ELN was formed by a rough religious leader, I'm sure I read that somewhere.

the SP would rise even a penny would do, as it is (sub 16p) as a bargain hunter type investor I'm for ever temped to buy more shares. I really don't want any more, it's not seen as prudent to be too exposed to one company as we all know - I don't purposefully average down or ever try to chase losses as some do though. I always view every transaction on it's standalone merits. Temptation is high sub 16p and I have a little more cash to place before the end of the tax year. Perhaps I should seek counselling. lol Juntapose - I agree with you and not just because you kindly mentioned me - I criticise regularly but try to justify it even if I sometimes fail. There is no reason to think there are any problems with the N sands or anything else, once we start guessing possibilities the world is your oyster as far as potential problems are concerned. My current frustration is almost entirely down to the company's apparent lack of progress, which as been heightened by the fact I keep reading that our peers are pressing ahead with real expansion activity - they need to start drilling, surely there is something that is ready after years of planning and preparation time. We criticised ONGC for being slow but we look set to win any awards for Colombia.

Ecopetrol (Colombian National oil co) and Repsol reported another successful well in the same area as CPO-5, this time in their CPO-9 block. Their Lorito-1 well has found 60m of heavy oil (in our block the oil appears to be light). Should encourage us in respect to Indico-1 which is targeting 4 potential productive horizons, the area just seems to be very prolific. "The presence of crude in Lorito-1 confirms the potential of heavy hydrocarbons that exists in this area of ​​the Eastern Plains, where we produce about half of the country's oil," said Felipe Bay�n, president of Ecopetrol. " https://translate.google.co.uk/translate?hl=en&sl=es&u=https://www.elespectador.com/economia/ecopetrol-descubre-crudo-pesado-en-pozo-en-el-meta-articulo-743962&prev=search

The BBC has reported that the Colombian president has ordered the resumption of talks with the ELN rebels - perhaps this signals the resolution of the long running conflict, the quiet spell should help Amer in any case. Would be a significant boost for all investors and allow the government to concentrate solely on the criminal element if they do a deal. Even in the short term it reduces the risk profile - so good news. The current stage election seems to have been won by conservatives (by popular vote) that want to be tough on rebels and give no concessions - difficult to tell if that a positive or negative, but I suspect whomever runs the country they will be pro-oil - they are desperate for investment and can see very clearly what happens when a country chases investors away with the crisis in Venezuela. The second link to Reuters content gives a good insight into the political ramifications of the current election process - the pro-oil candidate has won the first stage, but even the leftist candidate, Pedro, was apparently a good mayor of Bogota, at least fiscally. Really whoever wins it will only become apparent what will be the real approach after they take office, that's what happened in Ecuador where the guy is much more pro-industry than the electorate thought. I suppose reality means most politicians have to moderate extreme views when in office or do stupid destructive things, unless you're name is Trump of course, then you just brazen it out. lol SP is crazy a huge investment opportunity, IMO not a punt as easyp suggests in a recent post. I don't feel under any threat of a irredeemable loss here, isn't that a punt? http://www.bbc.co.uk/news/world-latin-america-43380648 https://www.usnews.com/news/world/articles/2018-03-12/colombia-legislative-poll-results-could-dent-leftist-petros-presidency-hopes

Reuters have reported that Colombia are going to start issuing new exploration blocks and want to assign as many as possible, information came from the president of the hydrocarbons agency. Starting in April/May they already have a listing of qualified applicants for the first batch. Some familiar names in there for us, and I suppose it reflects a list of companies intending to expand and invest, Amerisur is not on the list so I guess we're not interested (we've enough to be getting on with IMO unless there is some sort of strategic fit). The names probably a pretty good listing of some of the companies that could potentially be interested in Amerisur "Canada-based Parex Resources and Gran Tierra, Chinese CNOOC�s unit Nexen Petroleum, Colombia�s Hocol, Repsol�s Talisman Energy, and U.S. Noble Energy qualified for the Sinu-San Jacinto auction. They will submit offers in the coming days, with results expected in early April, Velandia said." http://oilnow.gy/news/colombia-jumps-latam-oil-auction-wave-award-blocks-april/

Three days ago Reuters quoted Ecuador's Minister of Hydrocarbons Carlos Perez as saying: " the country�s coming auction of oil and gas blocks will be launched on March 13, and about 40 companies have signed up to bid on minor fields recently included in the offer. " There is every chance that Amerisur are one of the companies that have registered an interest in the new minor licences, it would be rude not to (a snub unless we have signed up to some other deals) after meeting the president. The coming week is also interesting as the Colombian presidential elections start this weekend, when that is eventually settled I guess investment decisions should start to flow, provided they don't vote for some nutty populist rabble rousing like we did, and trash the economy. Venezuela, the way to go . lol WRT the comment about Exxon yesterday, I think Exxon want out of the region, I read something earlier this week about them selling some operation, I think it was in Ecuador - but there are plenty of other large oilies that are still interested, including Chinese national that are om a par with Exxon by some measures.

But every day brings us closer to the spudding of the next well, hopefully like buses two come at once. Today there was news from 2 of our Colombian neighbours, most notable Gran Tierra have just announced a share buy back for up to 5% of the company's stock, they cite the failure of the share price to recognise true value as the reason. Amerisur would do well to follow their lead, I suspect II shareholders may put pressure on them to do it. Also Parex have released their results, great progress, large increase in reserves, turnover etc with intention to expand - I see no reason why Amerisur shouldn't report similar progress. Most interesting of all is, like our other neighbours they report a fantastic 86% success rate with their exploration - investors must start to recognise this sooner or later. https://globenewswire.com/news-release/2018/03/07/1417389/0/en/Gran-Tierra-Energy-Inc-Announces-Notice-of-Intention-to-Make-a-Normal-Course-Issuer-Bid.html https://www.investorvillage.com/groups.asp?mb=16385&mn=9037&pt=msg&mid=18071132

they also like Parex, Geo Park's partner in Llanos 34, for 2017 they said: "16 quarters of growth - and more expected In the International E&P space, we highlight Parex as a top growth story for 2017. Solid track record of growth" Amerisur is clearly on their radar and it looks like they are bullish on the section of the Llanos basin so at the very least we can expect them to hang on to the shares they tuck away - they take the edge off Rex selling. We could do with another couple of II's to speed thing up a little.

Spooky - I just decided to Google Canaccord and Geo Park together and surprise, surprise they have announced a buy rating in the middle of last month. Great, clearly they a fans of Colombian focused oil companies and IMO they most likely recognise the potential of CPO-5, Amerisur is a cheap route in to a possible extension of the field in Geo Parks Llanos 34 - massive potential to replicate. L34 is the foundation of all Geo Parks success and if prolific, practically every well drilled strikes oil. What is even better they appear to be choosing Amerisur in preference to Geo Park. http://www.markets.co/geopark-gets-a-buy-rating-from-canaccord-genuity/141035/

Have bought a few more million shares - have a bigger holding than Rex now. Interesting that Canaccord have bought on behalf of clients and they report as a Canadian based outfit, probably simply coincidence but Canada is where practically all our peer companies are based. Or someone buying in preparation for the Indico-1 spud maybe and the SP goes banana's on success? I didn't post it yesterday as I was hoping for a little SP dip to under 16p so I could buy I few more (don't think it will happen now) ], but ONGC released a revised tender doc for the Indico -1 well which contains indicative programme guidance that the well finishing services are envisaged to be required fro April. Clearly you can't test a well until it's drilled which suggests spudding in March or early April, an imminent possibility. "START OF OPERATIONS Tentative date of commencement of testing and completion operations in the well Indico-1X after mobilization, inspection and acceptance of the Testing & Completion facilities & equipment is in the month of April, 2018. The exact date of mobilization of different services covered in the bundle will be intimated by ONGC-VL." I think the drilling of Indico will raise the stakes and investor interest. They also identify 4 target zones for potential testing, so lots of potential, though the say if the main target is good they may not test the other zones - presumably they will get straight on putting the well into test production. Read beginning of scope of work from Pg 67 http://www.ongcvidesh.com/wp-content/uploads/2018/03/Tenderdoc-BS-3-retender.pdf

WRT our seller have no doubt whatsoever that if they perceive a potential for a significant gain in SP they will stop selling. They are not idiots and have shown already they stop selling at a certain price, I suspect around the current SP or a little higher is their limit . I took a look at Rex's companies yesterday and although he and his family are very wealth it does not appear to signal they are super rich (oligarch level) and wouldn't miss a few �m, losses will hurt and they will want as much cash as possible especially as they appear to have made commitments elsewhere.

Earlier in the week we found out that Geo Park had partnered with ONGC to explore opportunities, well in the meantime the their CEO has been busy presenting the company at a conference in Texas and there are a few write-ups on it (though mostly subscribe), apparently he said: The best place today to look for oil and gas and oil and gas investment,� GeoPark CEO and Director Jim Park told EnerCom Dallas attendees, �is Latin America,..." No ambiguity there guys and he was speaking to a group of North American oil execs. I also came across an article from seekingalpha.com. It is interesting because many comments are also applicable to Amerisur whilst others lay in stark contrast why Amerisur need to up their game. Comment include: "What I particularly like about this company is that it is a value-creation machine, fine-tuned to every detail, from corporation set-up and operating strategy, via asset portfolio and field operation, to finance (see here). For example, it only paid $30 million for the 45% working interest in the Llanos 34 block; however, in 6 years, it created a NPV-10 of $1,393 million out of that $30 million initial investment. This is quintessential value creation through drillbit." That's value creation THROUGH DRILLBIT guys - the silence WRT drilling from our BoD is deafening and unless they have good reason to act slowly, failure to drill will soon be seen as unforgivable. Perhaps we would be better off with an offer from a company like Geo Park or maybe the BoD are avoiding spending in expectation of some deal. It's clear there is a huge prize to play for and the last posters hopes for doubling money could easily met, maybe I'm being inpatient but I want to see the drilling programme accelerated then the OBA pipes never needs to run at anything other than full bore/permitted. I hope they dazzle us with progress soon. https://seekingalpha.com/instablog/41325066-laurentian-research/5120622-tnrh-weekly-rambling-2-17-2-23-2018-brought-laurentian-research

As per usual I was expecting a dip in the SP this morning and considering a top up, the "sell on the news principle" usually does the trick irrespective of the news, so I'm surprised the SP hasn't really budged from yesterday as yet. It suggests perhaps that the recent buying (or a good portion of it) was fro the longer term and there is genuine demand. somone on another BB suggest it was pump and dump earlier in the week, I think that's a bit silly when the SP only went up a fraction of a penny. Of course it can all change, but so far it looks promising we'll at least hold our own today.

Laptop15 - I agree with what you say, but I'm looking for signs of out-performance in the first half of the year, we don't want a repeat of last year and the previous year for that matter where the whole year we are behind programme. Not a problem this month but if the update next month contains no notice of drilling then I believe we deserve a proper explanation. As I said in my last post I suspect there is some(are) thing(s) they are holding back, perhaps for the annual report - hopefully something of corporate importance.

Plain vanilla update, nothing horrible or to get excited about. There are no signs of the management outperforming as yet. Lack of drilling activity will become a real problem if they don't start something in the next month IMO. The second RNS is a nice reminder of the value of the OBA, I suspect they have something else to tell us but are holding it back, no significant corporate activity reported for ages

I've got a good feeling that the next few months are going to mark a change in fortunes for Amerisur shareholders ( mind you I've had that feeling on and off for the last few years lol). There are so many things that are due or overdue, Indico perhaps being top of the list, I even just read that FARC leaders canvassing for votes have apologises to Putumayo residents for the environmental damage caused by past oil infrastructure attacks admitting it was a mistake - some turn around. I suppose a broker upgrade beats a downgrade, but I'm not sure any Amerisur shareholders take any notice.

Most likely next week, the content is more important than the date though - IMO they really need to give us something positive on the drilling campaign other than work overs. We are now into March and nothing has happened, I'm sure they could drill something even if they change the planned sequence, doing nothing should not be an option.

moneylender on ADVFN bb has, yesterday, kindly submitted an image of our CEO and Chairman posing with the Ecuadorian president, presumably after some meeting. As the Chairman said he hoped to conclude some deals, a pose for the press usually follows some negotiation and possible deal - I'm sure they didn't meet just for a chat and photo opportunity.

Amerisur s doing very well so far today holding on to yesterday's gains most oil related shares are down, though the oil price has just got back up to $67/barrel.