Member Info for JP2000

30 days to TD + logging time about 10WD = 11th Mar though speculation could come through around 4th Mar. This drill isn't vertical but directional so could be longer in total.

Then approx 10 WD for flow testing and a further 10 WD for external consultants to calculate reserves

Sol 1 as an individual structure is quite small, gross resource 4mmboe. Is the 'anticipation' that Sol is part of the Lower Sands expanding a continuous oil zone 10km south of Indico?

Look at the charts, profit taking after key newsflow but volatility has been relatively low because the net asset value keeps growing and there's a strong development roadmap throughout 2019.

Re India: the 2019 CPO 5 drill plan wasn't announced until early Feb when clearly there was no agreement for additional rig(s) and ONGC would have locked down the 19/20 CAPEX budget. Not saying there won't be a deal but probably contingent on Calao results and also the lead time could be 6-12 months for permits, infrastructure & rig mobilisation.

The guardian hates business and hates Britain so instead of regurgitating issues from 2011 why doesn't it test the rivers today?

Be interested to see just how clean the river is upstream.

Looking back at old AMER presentations 2016/17 then the unrisked resources for Put 8 are quite considerable, one area is c160mmboe but later presentations 2018/19 just concentrate on the Miraparriba-1 prospect which although low risk is P50 4mmboe. I can’t honestly see GT being that interested in a net 2m drill but 160m (net 80m) prospects are a different matter.

I’m slightly confused that Indico 1 found no water in the LS3 but then they also drilled through the LS3 into the paleozioc zone. Where are they expecting to find water if at all and was there a mistake in the original drilling?

The only quoted cash figure is at 30th June 2018, they've generated at least $25m since then less any CAPEX (not much).

Re 400,000 shares: it just means delayed trades of up to 3 days i.e. they traded today and that impacted the SP but you won't see the trade come through for a while.

Indico had 2 announcements, first after 40 days covering wire logging and column details, the second was 22 days later on flow rates and viscosity. There was a dicrepency about the net column size between ONGC and AMER down to cut off assumptions.

The hot money is currently chasing MATD, it will be AMER's turn in a weeks time.

Its taken 10 years to drill 2 wells but as you say the situation has changed, a 300ft column and a potential regional play should concrentrate minds. I heard JW's comments re self-funding but what it really needs is a 20-30 drill programme over the next 18 months and I wouldn't be surprised if they're producing 50-100kbo/d which gives ONGC scale.

its page 60, (my screen view was doubled up)

ONGC's year end is 31st Mar so maybe JW was lobbying for 19/20 budget for CPO5.

http://www.ongcvidesh.com/wp-content/uploads/2018/12/OVL-ENG-AR-2017-18.pdf

Page 32 shows ONGC licences in Colombia, I didn't realise they've had CPO5 since 2008 and evidently its been a slow burner as their real attention is offshore licences.

Geopark=fast, ONGC=slow ?

Can't tell whether ONGC have an agile problem or whether its simply down to capital allocation i.e. budget

Depends, if they find 1P 150mmbo then bob's your uncle, whether that's likely or not is a completely different matter.

Lt: there’s 23%(?) X factor to Colombian government and 2%(?) royalties to previous block owners. Whether this is an increase in cost of sales or a reduction in revenue I don’t know but your profit figures are optimistic.

ok, 35% was an error

There are endless possibilities on CPO5;
A second or third rig for LS3
The Guadalupe trap
The SE play
Infrastructure planning - pipelines
A further buy in from 35% to 50%
A buy out of AMER's 35%
ONGC will have a development roadmap, perhaps they want to accelerate.
It could be signing a deal or just high level discussions.

at 10.25 JW says "80m barrels new reserves", worst case has to be 3P but doesn't say if net to AMER or gross discovery?