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is hopefully coming our way, and if Amerisur delivers anything like what is possible it should bring a little sunshine into the lives of all shareholders. Now the AGM and results season is over and we have our BoD for the next year and a clear path to success, I'm really looking forward to programme execution, hopefully starting in a matter of weeks.

This topped out at 66p about four years ago and it's in much finer health now, so based on this mornings start it could be a 4 bagger just to get back. I suppose it's al dependent upon the drilling campaign - it's different from the last few years, more exciting and game changing as they are proving up new block with potential reserves that push us into the big league. 20000bpd + in a couple of years The real bonus being it will be without debt, I'll be keeping my shares until 2020 unless we are bought out, that should be time enough for the BoD to deliver success.

Forgive me for not getting excited about 17p. it should be double that simply based on the revenues now being generated. If the drilling campaign Is successful, who knows.

Not just teetering around $80, now its broken through its 1/3 of a dollar through and heading up. so whats a 1/3, well a lot, it's around $7000, 000/yr extra revenue. Even more startling, when we consider the SP is the $6/barrel its gone up in the last 2 weeks when the SP was coincidentally 16.94p. That's $15,330,000 (7000 x 6 x 365). $15m per year and the SP is struggling to break 17p. Other oil companies have seen significant increases in the meantime, many others up 5% again today. There is just no way around this, to put a gloss on it for the BoD, they need to address the anomaly, with a share buy back in the coming months if necessary.

Whatever the year ahead brings Amerisur is certainly unloved at the moment, and as many have posted already, arguable, presents a great opportunity to buy in. Only time will tell if that assertion is correct, I wouldn't advise anyone to buy any share as historically my timing leaves a lot to be desired, but even after all my negative posts I'm still in possession of my shares and clinging to my sanity, not tempted to sell, there is just so much good stuff just around the corner. I know, Jam tomorrow again. Maybe Jam tomorrow, but I like Jam and we're due a feast. Who knows maybe our BoD will dish up Caviar this year, then again I've probably more chance of winning the Lottery. In the meantime I suppose I must be grateful the SP is holding at around 16.

Juxtapose - thanks, great stuff, especially the possibility of a further well a Indico, first it clarifies there could be 5 production wells in the block before the next AGM. The fact they have considered a second wells indicates a high level of optimism it will be significant and even a glace at the block layout show a much bigger structure than Mariposa though hopefully there is oil all the way between the two. The other thing of interest is the comment from GC about "Parex and Geopark, companies with 3 billion market cap on success in Llanos 34.". I have posted information about them and tried to highlight it here previously. if CPO-5 proves anything like as prolific as the neighbouring block, Llanos 34, the value of our share of the block will be enormous, easily more than the current market cap IMO. It isn't simply about the quantity of oil, it's because the potential flow rates are so high with low costs of drilling and operation. The company have highlighted it before, on a number of occasions, Malcy mentioned it having come from the CEO, GC mentioned it in his interview and it's been in presentations. Yet it is largely ignored - the drilling programme on CPO-5 is far more important than any other block IMO and could be a company maker. I believe ONGC will up the scale of it very quickly if the programme is a success.

A cloud will be lifted over the investment climate in Colombia later this months when the Presidential elecoin is finally settled. Apparently rating agency Fitch say "Fitch says election of new president in Colombia has attracted investors' attention as winning candidate may enact policy affecting issues critical to corporates " As the right wing pro-industry candidate is the clear front-runner the result is likely to be greeted positively. The result could be the signal for invertors to move in and predatory oil companies to launch attacks on weaker players (Amerisur). ONGC and Geo-Park recently announced their JV to look for opportunities - both companies have good reason to want Amerisur's CPO-5 block. Of course Amerisur also stated that they will also consider suitable opportunities to buy assets.

For what it's worth (nothing). Now the AGM is over we can move forward, I think regulars must be aware my intention/hope that shareholders would give the BoD cause to feel uncomfortable with their position - judging be the comment on the BB's, especially ADVFN, there is a good chance that was achieved. None of the resolution were ever going to be rejected, a significant objecting block was my hope to snap them out of their complacency. So I regard yesterday as most likely successful, apparently shareholders challenged the BoD on various issues, though some suggest the answers were unsatisfactory, lets hope the criticism registered with them (they are not guys who own up to mistakes of apologise). Remember there will be other AGM's and possible EGM's called and some votes require 75% approval, we are not a powerless as some suggest and after all the goal of shareholders, my goal, is not to cause trouble but get the BoD to step up to the plate and do their duty - not a lot to ask! Someone on ADVFN said the management all rushed off to do a presentation of some investor - IMO very rude and disrespectful of the gathering if true, however, it's interesting that a major shareholder or potential shareholder is worthy of that attention - is one of our II's near to calling time on them perhaps or expecting/demanding a step change? WRT RH, I commented a couple of days ago that if someone wanted to hurt the company the day prior to the meeting was favourite, I suppose I should have included the AGM day and possible the rest of this week. Again someone on ADVFN commented on mention at the AGM of a major shareholder selling down over a protracted period - we all know who! Anyway, I did a check on RH and in the six months prior to the last holding update the rate of selling if echoed in the last six months would suggest he still has a significant holding that will take up to another year to shift - obviously the rate of selling is a guess, but working on the basis he wants to hurt the company not unreasonable. My view, on the basis of the above is that the company should without delay introduce a share buy-back programme, if there is a concerted effort to hurt the company it should be a no-brainer. Share buybacks are structured to create shareholder value and not drive the SP, as long as these principles are followed I can't see any problem, carrying on pretending there is nothing that can be done is shameful (a suspicious person may thing they have engineered this to enrich themselves, not me of course).

Get real, you are finding an explanation that doesn't check out, pickedpeck you need to open your eyes, Wuffle is much nearer the truth perhaps spot on. "at ENG, HUR, PMO and many others they are all way off their 'normal' values and only recently showing signs of recovery" HUR and PMO are both over 50% up whilst Amerisur has drifted down by about a 33% in the same period, means Amerisur neads to more than double to around 40p simply to return to parity with those. That's not market sentiment at all, it's a pathetic outcome for all Amerisur shareholders and its the fault of the BoD - that's the only place the blame can be laid. This is the reality (your assertion was nonsense) of why is hurts so much for shareholders that have been in longer than a few session or even hours: Assuming a buy in price fro each of AMER, PMO and HUR in November at the lowest point - in effect a 6 month performance comparison: ...................................Nov SP.................Current SP................% Gain/(Loss AMER.........................18.75p...................15.94p................ ( -15% ) HUR............................24.00p...................46.80p................( + 95% ) PMO...........................68.00p.................110.70p................( +61% ) Those are the companies you cited for comparison, I think shareholders have every right to be asking questions of a BoD that doesn't acknowledge a problem, its' atrocious. Our problem is clearly NOT sentiment towards oil stocks

The statement really doesn't say anything that enlightens shareholder, IMO deliberately positive and optimistic whilst not committing to anything. I fantastic Jam tomorrow update, hence the market has shrugged it off, it simply doesn't cut the mustard. Meanwhile Cairn (CNE) issued their AGM statement this morning, in time for market opening, full of details to back up claims, their SP is up about 5%. If the financial performance had not improved over the last year it would be amazing, literally astonishing as the oil price has soared. Because there are no figures whatsoever, it provides enough wriggle room to drive a Jeep though filled with big slice of our assumed cash. Oil is currently over $79/b and I never expected the SP to be so lifeless on the day of the AGM, I hope the attendees ask some probing questions and don't allow them to get away with meaningless responses.

That oil rises, and is now at a level where Amerisur must surely be making excellent profit yet the SP has not just been unresponsive it's at a fraction of the price when the market was in the depths of the oil market downturn. It is crazy, even if the oil price falls back Amerisur are OK at around $40 possible less now as the monies necessary for development spending must already be in the bank, at 5 months into the year all the premium months allow for a significant downturn to reach the average needed. Hopefully, the BoD will reassure shareholders that they will take some remedial action at the AGM and we can move forward sensibly, perhaps signify a share buy-back intent. Personally, I think a dividend is ridiculous for a supposed growth company during it's investment and expansion phase, especially when monies raised in a placing to undertake an investment programme would be compromised. Anyone that wants a dividend should invest in a mature income generator, there are loads about where 5% is achievable. Malcy, well Malcy is useful in highlighting some superficial stuff, but he is broad brush and certainly doesn't always (some would say ever) get to the crux of issues. Also he is a paid agent by some parties, there is a tendency he is simple a nice guy blogging for free, remember the recent scandal with facebook etc - you are the product if the service is free. I thought his floated question about a dividend during an interview with GC was an uncomfortable moment and Giles simply explained the obvious - it's not appropriate whilst not embarrassing Malcy. No one should give it any merit IMO.

Yes they are spudding Indico-1 in June (allegedly) the wells mentioned below are subsequent to that and I believe the rig will be retained to do that - that's according to recent tender invitations. Our management did indeed say the latter part of June, but I suspect they don't really know and don't want to look like they are deceiving us again by, ONGC seem incapable of keeping to a schedule, just like Amerisur. It wouldn't surprise me if neither company employs a project planner, our CEO probably does it based on gut feeling and ensuring nice SP when options are priced up (only kidding).

Have just looked at the latest tender document from ONGC, it's for drilling mud services and notices there is a start date for the Sol1 operation, it doesn't actually say what they mean but I suspect/hope it doesn't mean building the road and pad. It does say "operations in the SOL-1 well" so best guess is it means spudding. So they still must be expecting to finish Indico-1 in June "Tentative date of commencement of operations in the SOL-1 well is in end of June 2018. The exact date of mobilization of different services covered in the bundle will be intimated by ONGC-VL." They also mention again about an unnamed contingent well, but I noticed it actually mentions drilling and that it is and the other two wells are of technically similar scope - that rules out a rework of Loto and it can't be Indico-1 as that is already programmed. So it looks to me like a potential, unnamed, 4th well, one would assume from an existing location with offset if they prove a significant find. Infill between Indico-1 and Mariposa-1 perhaps, if Indico-1 flows at a similar rate to Mariposa an additional well (or two) should be a no brainer if the potential is there.

I echo the sentiments of the previous poster, don't let them tell you how wonderful all is, directors in general are well versed in making a rotten situation look excellent, and our directors are top of the class. They justify the bonus awards on meeting targets, yet they failed on all the targets communicated to shareholders. Last year they missed the end of year target but still claimed success, however, far more importantly they missed the annualised average by a bigger margin which meant significant lost revenue. Resulted in the slim profit and much disappointment as overhead costs mushroomed. On social issues we actually lost near a months production and allegedly spent considerably more money supporting locals, how is that a success in managing local issues. On Health, Safety and Environment, it's anybody's guess how well they did, success can be claimed by any company barring a tragedy (fatality of major incident), all companies should be expected to excel in this area, it's a minimum requirement IMO. Personally, as someone who has worked in HSE I don't give brownie points for doing the minimum expected. WRT today, if someone really wanted to hurt the company as it is sometimes alleged (RH) and has the capability to do it, today is the last opportunity to inflict meaningful damage, or at least to try to embarrass the BoD - it's also a chance to take a position at a low price - the closing price will be interesting. I suspect this could be the low point for the company (unless oil collapses), usually after an AGM a companies SP improves as investors are reassured. Whatever, lets not forget our future as shareholders is totally in the hands of the magnificent 3, Chairman, CEO and FD, the AGM attendees should make them realise their responsibility, failings and the risks to them of further under-performance.

is the last time oil was trading at current levels and at that time the SP was around 60p and rose over the following few months as the oil price fell. How on earth is have the management got us into the current price range and yet are hard faced enough to claim success year after year, something is amiss and it isn't the general market or Colombia where our peers are enjoying new highs on their rising share prices. Superficially everything looks great, all pointers are positive and I don't believe Rex Harbour is the driving factor, are institutions perhaps giving the company the swerve due to lack of faith/trust in the management team? Whatever, to the chasm between the SP and anything like fair value continues to grow. Although I can't take advantage (I'm full in as far as I dare) I suspect those getting in now may make a killing if patient and don't jump at a couple of pennies. 60p and I'm out with a big smile on my face. What are the chances?

Stockable - thanks for querying along the lines I have been doing for the past few weeks, at times it has felt like I must be invested in a different company than some posters - reality is not palatable to some. A couple of points about our team, as far as I know the CEO is the only one that allegedly spends his normal working week in Colombia. The FD allegedly spends his time at the shared (with other companies associated with directors offices in Wales - don't ask who pays the bills. Whilst, allegedly, the Chairman hobnobs with big shareholders and Governments officials etc. So nothing to concern anyone really. lol I have tended to leave the CEO alone when criticising as I hate to have a go at operational staff working hard, but is record is not too impressive for the huge salary he receives, he has prospered very nicely since selling a business to Amerisur in 2007, 30% owned I believe. His salary package is obscene IMO considering the company has performed so badly. He was allegedly paid �1,778,000 (not including any beneficial shares) near triple the net profit for our �200m listed company last year This one is apparently 75% owned, "MERCURY Recycling Limited" appears to be the UK's largest fluorescent light recycler in the UK https://www.mercuryrecycling.co.uk/about/about-us https://beta.companieshouse.gov.uk/company/02977989/persons-with-significant-control

contains loads of information for techies (not me) but also talks of services for 2 wells and a possible contingent well?? "Hiring of Agency for Bundled Services (BS-4) for Wireline Logging, VSP & Mud Logging services for two exploratory wells Sol-1 and Aguila-1X and one contingent well at llanos basin, in the Meta department in Colombia for Block CPO-5" Raises questions about which other well they might want to test but also shows again they are contracting logically to prevent holdups - I doubt it's for Indico, that's already sorted and is no way contingent, perhaps retesting a Loto well (is that possible?) or some well that has not yet been identified? Whatever, the most positive thing for me is they appear to be contacting like a proper commercial outfit now rather than a bunch of jobsworth's applying Indian bureaucracy.

New information (3 tenders) are available on the ONGC tenders page of their website - we find precious little, late and often contradictory information from Amerisur - don't they know about website making them look tardy. The scope of work provides some interesting positive news IMO, in raises the possibility of interventions in Loto1 and Loto2 (remember they produced oil but water make was a problem) as well as this statement: "Two more locations viz. Sol-1 and Aguila-1X have been released for drilling in order to explore the prospectivity and full potential of the block. They go no to say "long-term testing of wells Indico-1X, Sol-1 and Aguila-1X, as well as the ongoing LTT operations in the recently drilled well Mariposa" It is great that they are already planning for LTT of the three well, much better than last time of planning Finish/Start of every operation with unnecessary delays, So overall there is the potential for production from up to wells covered by the scope of work. Also notice they talk of continued need for Mariposa, which makes a nonsense of Amerisur's oil reserves assessment - they would have been better off saying nothing in the annuals as it was misleading IMO simply to offset a tiny reduction elsewhere. That's a new suggestion of their purpose "full potential", maybe if positive they provide justification and the data necessary for a full scale exploration of the block to replicate the success of Llanos 34. ONGC have the resources to go big on the block if they deem appropriate. Relevant extract: "ONGC Videsh Limited is the operator of Block CPO-5 in Colombia. Under the current phase 2 of Exploration, one A-3 location viz. Indico-1X is to be drilled as an additional commitment well. Two more locations viz. Sol-1 and Aguila-1X have been released for drilling in order to explore the prospectivity and full potential of the block. As per the mandatory requirement by the National Agency of Hydrocarbons (ANH) in Colombia, it is essential to carry out the analysis and characterization of oil, water and gas samples recovered from the wells, well cuttings, side wall cores / conventional cores and other samples during exploration and production phases. In view of the upcoming operations in the block, including drilling, initial testing and long-term testing of wells Indico-1X, Sol-1 and Aguila-1X, as well as the ongoing LTT operations in the recently drilled well Mariposa-1 and possible intervention in wells Loto-1 and Loto-2, services of a local qualified laboratory are required for handling, analysis, storage and transportation of various samples."

I'm really surprised that the SP has not improved nearer to 20p in light of the rise in oil prices, at current prices it would be hard for any management team not to make a profit unless they didn't want to. Missiles where exchanged between Iran an Israel last night and so far a lid has been kept on the oil price but things appear to be unravelling and the consequences could be severe. I believe Israel would welcome the chance to justify an attack, Trumps press spokeswoman apparently just said that the administration supports Israel's right to defend itself and rump himself indicated that if Iran restarted its nuclear programme, so IMO the scene is set for an explosive conflict - next move Iran revolutionary guard or Huthi rebels against S Arabia. For those that are too young to remember previous conflicts, the oil price can easily soar to double or triple it's pre - conflict price. On a lighter note, our Dear leader, Giles, has actually "resigned" (code for booted out?) from the ECB yesterday. Great news as I believe that now precludes him from standing for the Chairman's job of the ICC, a sceptical person, not me of course, might suspect he has been stitched up in the last few weeks with his alleged supporters for the job evaporating at a recent meeting in India. I actually don't really care much about cricket apart from liking England to win anything and everything(a trait I share with GC), but the reduction in commitments is a significant boost for Amerisur IMO if he has more time. Maybe the company will now become a labour of love for him - if so he can have as many share options as he likes, I'll support him. http://www.skysports.com/cricket/news/12123/11365666/giles-clarke-retiring-as-president-of-england-and-wales-cricket-board

Jux - thanks for challenging, I'll check sometime today, I've seen 17000 somewhere but perhaps muddled my timing up, 12000 seems move realistic and I recall GC in his interview with Malcy confirming figures - I think the ones you suggest The company don't make it easy to trace targets, but took another look at the 2017 report and found a range is provided, not a very challenging lower rate IMO, but it goes along way to putting into perspective the drilling campaign, it really doesn't need to achieve anything at all until Q4 this year. On the basis of the statement I would suggest anyone that cares to have a stab at working out the turnover/profit etc for the year should use 7000bpd. Should be easy for some maths wiz to interpolate . From Pg 16 "2018: target average production of 6,500 � 8,000 BOPD" Having found that figure, I'm very pleased, but I must confess the average is way lower than I expected even with an exit rate of 12000bpd, it's looks a very easy target when last years exit rate was near a damn it 7000bpd.