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Greatland Commences Second Drilling Programme at Havieron

On 22 March 2018, the Company made its first complete tanker loading from Esmeraldas, in Ecuador, loading 350,000 BO aboard M/T Kerala, which was sold to Shell for $20.9 million. This was a significant milestone for Amerisur as an exporter of crude oil, as all cargoes had previously been shared. On 22 May 2018 we loaded a further full load of approximately 300,000 BO in M/T El Junior at a sales price of $20.3 million. In June we loaded approximately 129,000 BO in shared tankers for sales of $8.8 million and in September we expect to load a complete cargo of approximately 345,000 BO for expected sales value of approximately $24 million.

Cash coming in at a rate of knots

Adjusted EBITDA of $24.3m (H1 2017: $7.6m)
Robust cash position of $49.3m (H1 2017: $29.0m)

Market should like these figures, CAB lower than I expected but not by much

13 September 2018


Amerisur Resources Plc ("Amerisur", "the Company" or "the Group")



Interim Results



Strong revenue growth, cash generation and profitability



Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce its interim results for the six months ended 30 June 2018 (the "Period").



Highlights:


Financial

· Strong revenue growth of 93% to $67.9m (H1 2017: $35.1m)

· Generated profit after tax of $10.8m (H1 2017: loss of $2.3m)

· Adjusted EBITDA of $24.3m (H1 2017: $7.6m)

· Increase in net cash from operating activities to $12.5m (H1 2017: $7.8m)

· Robust cash position of $49.3m (H1 2017: $29.0m)



Production and OBA

· H1 2018 average production increased 33% to 5,959 BOPD, with an average realised price per barrel of $64.2 (compared to $47.2 in H1 2017)

· H1 2018 OBA throughput average of 4,987 BOPD

· Concluded negotiations with Petroamazonas bringing Amerisur's guaranteed minimum carrying capacity through the OBA to 9,000 BOPD

· Post-period end, completed construction of Chiritza (re-pumping) station, with commissioning expected shortly

· Continuing focus on strong HSE practices, with no reported lost time incidents



Exploration and Appraisal

· Strong progress made performing preparatory works and civil works across Platanillo, Put-8 and CPO-5

· Post period end, the spudding of Pintadillo-1 occurred

· Completion of civil works at Indico-1 well in the CPO-5 block

· Signed value-accretive low-cost acquisition of 100% working interest in Put-14 post period end



Outlook

· Advancing near term exploration activities, with Indico-1 expected to spud in October

· Drilling plan continues, targeting prospective resources of 131.53 MMBO net. The eventual split between exploration and appraisal/development wells will depend upon success and choices made during the programme. A range of between 8 to 12 exploration wells and 2 to 6 appraisal wells are planned to be drilled between now and Q3 2019.





Giles Clarke, Chairman of Amerisur, said:
"The first half of 2018 has been a period of significant revenue growth for Amerisur, with our low-cost production and excellent netbacks delivering strong cash generation and profitability. As the owner and operator of the strategic OBA pipeline, we continue to deliver highly competitive operating margins and during the period, we were able to secure an increase in guaranteed minimum carrying capacity through the pipeline. We have now spudded the Pintadillo-1 well in the Platanillo block, the first of three fully-funded wells targeting the N Sand A anomaly, estimated to hold P50 resources of 11.44 MMBO.



"For the remainder of the year and into 2019, we remain focused on growing production levels from existing reserves and executing our drilling plan, which is targeting reso

I am curious to know why no holding RNS for any of the institution increases only the RH decrease RNS was issued. How far will they go to keep the share price down?

httP://www.valuethemarkets.com/index.php/2018/09/12/results-imminent-drilling-underway-amerisur-worth-punt-weakness-continues-amer/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork

Based on the information Amerisur has released to the market so far this year, a potential catalyst for a reversal in its decline could be the release of its H1 2018 results on Thursday.

The firm’s monthly production updates for the first six months of this year suggest an average production of c.5,980bopd over the period. Meanwhile, according to Statista, average Brent prices in the first half came in at $70.60/bbl, which translates to $63.5/bbl when a 10pc discount is applied. On this basis, a best estimate puts Amerisur’s H1 revenue at c.$69m ($63.50 X 5,980 X 182).

Comparatively, this places Amerisur considerably ahead of where it was both at the end of H1 2017 and the beginning of 2018. In FY 2017, it reported average production of 4,857 at an average realised sales price of $50/bbl, creating full-year revenue of $92.5m. Likewise, in H1 2017, it revealed average output of 4,457bopd at an average price of $47.3/bbl, translating into revenues of $38.2m.

These are all quite rough calculations that do not include cost of sales, and it will be worth re-evaluating on Thursday with more up-to-date financial information. However, based on our $69m revenue estimate for H1 2018, this enterprise value covers less than two years of current portfolio turnover. This figure already seems undervalued, and with Amerisur’s drilling programme also offering the potential for plenty of imminent upside across its portfolio on top of this it could soon look very cheap.

Dont know why my last post is missing so here it is again.

Laptop, we shall see tomorrow, my realism or your false ramping, non of which has proved correct yet. I have stated many times I am a buyer here under 17p as my profits elsewhere dictate. I am now getting back close to my 2011 holding where I held a substantial amount and those that know me that have attended any AGM in Cardiff will vouch for that.

The fact that they hid the intrims announcement at the end of the operating update, all the selling this morning, doesn't give me a warm feeling for tomorrow. All the extra snouts and work overs have cost a packet. Thought we would have had some extra news this week before tomorrow. Results to disappoint, hope I am wrong

READ ALSO The Ministry of Energy and Natural Resources not Renewable presented this September 11, 2018 the twelfth oil round Intracampos. The event was held in Quito. In this meeting, eight oil blocks located in the Ecuadorian Amazon were exposed to investors. These are the Perico, Iguana, Charapa, Chanangue, Espejo, Araza Este, Pañayacu Norte, and Sahino areas. These blocks will be tendered under the modality of participation contracts. This will allow State and private firms to have a variable participation, depending on the production of crude oil and the price of oil in the international market

https://www.graphicnews.com/en/pages/38297/Two_huge_gold_rocks_found_in_once-in-a-lifetime_discovery?utm_source=dlvr.it&utm_medium=twitter&utm_campaign=gngraphicnews

#GGP, todays news of a massive gold find by #RNC is about 50 klicks from our Bromus project, on the Kalgoorie-Norsmen belt. Makes for a good story. You never know.

Our block CPO-5 extends from the fields of Llanos 34, 200+ mmblo. If the faults and fields extrapolate then Mariposa, Indico etc are going to be massive. Our block is adjacent in the lower left corner, pg 11 map.

https://geopark-ir.prod-use1.investis.com/~/media/Files/G/Geopark-IR/reports-and-presentations/corporate-presentation-sep-2018.pdf

You forgot to mention GC is on very good terms with the directors at ONGC through his cricket connections. Howzat!

I dont understand, there has been no mention of our CPO5 block in the last two
operational updates. ONGC, on the face of it, seem to think that the next three wells there are a given success. All this infrastructure being assembled and we haven't even started drilling, or have we?? Mariposa 1 was expected to have further perforation of additional zones,within 4 weeks, that was back on the 9 May update, since then hardly a word. So its 4 months since any meaningful news out of the Llanos, confused muchly!!

OOps wrong board, too much wine!

I dont understand there has been no mention of our CPO5 block in the last two
operational updates. ONGC, on the face of it seem to think that the next three wells there are a given success. All this infrastructure being assembled and we havent even started drilling, or have we?? Mariposa 1 was expected to have further perforation of additional zones,within 4 weeks. That was back on the 9 May update, since then, hardly a word. So its 4 months since any meaningful news out of the Llanos, confused muchly!!

Don't you guys do any research, there will be NO dividend until we get to 20000 nope. GC has said that this year.

BaysilHope, have you broken your Enigma machine, I could read read your last post without deciphering it!!!!! Lol

No divi for some time. This is what Giles Clarke said this year.

"With a medium term-production target of 20,000 barrels of oil a day, and low production costs per barrel, Clarke said they have a profitable business.

Once they reach the target, Clarke said: “We think we’ll have a very strong balance sheet, a very strong cash flow, and a business well capable of sustaining good dividends for its shareholders.”"

http://www.proactiveinvestors.co.uk/companies/stocktube/10323/greatland-gold-reports-high-grade-gold-from-rock-chip-samples-at-black-hills

https://www.share-talk.com/share-news/greatland-gold-plc-aimggp-high-grade-gold-detected-in-samples-at-black-hills/?utm_source=twitter&utm_medium=social&utm_campaign=SocialWarfare