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Amerisur resources AMER. Recent results show generating cash and directors buying in. Plenty of upside to come with upcoming drills dyor.

Amerisur resources AMER. Recent results show generating cash and directors buying in. Plenty of upside to come with upcoming drills dyor

Investors Chronicle recommend BUY

Laptop Amer sells oil at slight discount to Brent so even better. I agree this is a Strong Buy

Directors having skin in the game gives me confidence. I'm in for another top up in morning.

Last time directors bought this rose to 23p. I'm looking for same again.

Thats a massive Buy signal. I'm following director buys and topping up as they are in the know.

Agree still undervalued and now my biggest holding. Strong Buy imo dyor

Amerisur Resources Full-year results from Amerisur Resources (AMER) this morning and, whilst they are inevitably backward looking, they show that material progress was made last year which is being substantially being added to this year. With some downtime for remedial well operations the company still ticked most of the production boxes ending the year at around 7,000 barrels per day. With the oil price above $60 and opex pb below $20 cash netbacks of over $40pb are indeed very pleasing. Revenue growth was up 96% at $92. 5 million (£64.6 million) ($47.2) and EBITDA was $19.8 million ($0.4 million) and a welcome return to net profits was achieved. It is worth noting that post the period end, the company entered into a $35 million working capital facility with Shell (RDSB) which is effectively a pre-pay agreement that for a very modest fee avoids the need for an expensive and unused RBL. Most exciting for AMER is the upcoming drilling programme, which for the rest of the year amounts to some 14 wells including some potentially company making stuff. There are to be three back to back wells looking into the 'N' sands anomaly in the central Platanillo block, with a potential reward of P50 resources of 11.44 million barrels of oil equivalent starting with Pintadillo-1. In the PUT-8 block a low risk U and T light oil structural target at Miraparriba-1 is looking for a new field of 4.4 million barrels of oil equivalent whilst at Indico-1, the first new well at CPO-5 is looking for 10.3 million barrels of oil equivalent. Any success at these and others will add significantly to the production targets going forward. The Amerisur stock price is one of those that has not picked up with the oil price at all even, though the gains it has made are there for all to see. The conclusion of a deal with Ecuador to complete the Chorizo pumping station is signed, and AMER is helping the process along when needed. This will mean that, for the foreseeable future, OBA carriage with its low opex for the company's oil will be more than enough for their needs. With its sound financing ensuring that all well commitments are covered for this year Amerisur is in a very strong position indeed.

Very pleased reading over results today. The future is looking very bright and share price is extremely undervalued.

60p is my target price if next 3 drills hit the jackpot.

60p is my target price if the best 3 drills hit the jackpot.

For Malcy lovers from 18 mins in www.**********.co.uk/blogs/erris-resources-eris-malcy-fpm-iae-amer-savp-echo-char-pvr/

Thanks to poster on another bb For Malcy lovers from 18 mins in. htTps://www.**********.co.uk/blogs/erris-resources-eris-malcy-fpm-iae-amer-savp-echo-char-pvr/ Malcy basically sees this as a takeover candidate if it stay undervalued.

Investors Chronicle have issued a Buy rating. I agree with a fully funded drilling campaign about to start. This will only increase reserves and production on any success. As I mentioned this has hit bottom and sp should rise from here.

A number of announcements out from AMER this morning, whoever said that news was thin on the ground? An operational update says that the first complete tanker of 350/- barrels of crude loaded on 22/3 and was sold to Shell. Elsewhere the most interesting news is that a rig was mobilised to Pintadillo-1 to test the first of the �N� sands anomalies, should this be successful three wells will be drilled back to back, the well is targeting estimated P50 resources of 11.44 mmbo which would be success indeed. The Miraparriba-1 well on PUT-8 should spud early May as the exciting well programme rolls out, this will likely include Indico-1 on CPO-5. Monthly production averaged 6,476.5 b/d with a peak of 6,647.5 b/d and exports through the OBA were 5,544.8 b/d and a peak of 5,809.2 b/d. Reserves were slightly down due to production and two poorly performing wells but offset by success at Mariposa and Mecaya. Overall things are going very well at Amerisur and with crude well over $60 cash flow and revenues are good and there is still substantial upside potential from an exciting exploration programme.

Totally agree JTD. Drop is sp overdone here imo. Plenty of news flow to lift the sp in next couple of months.

Malcy's take on it all.... Amerisur Resources A number of announcements out from AMER this morning, whoever said that news was thin on the ground? An operational update says that the first complete tanker of 350/- barrels of crude loaded on 22/3 and was sold to Shell. Elsewhere the most interesting news is that a rig was mobilised to Pintadillo-1 to test the first of the ‘N’ sands anomalies, should this be successful three wells will be drilled back to back, the well is targeting estimated P50 resources of 11.44 mmbo which would be success indeed. The Miraparriba-1 well on PUT-8 should spud early May as the exciting well programme rolls out, this will likely include Indico-1 on CPO-5. Monthly production averaged 6,476.5 b/d with a peak of 6,647.5 b/d and exports through the OBA were 5,544.8 b/d and a peak of 5,809.2 b/d. Reserves were slightly down due to production and two poorly performing wells but offset by success at Mariposa and Mecaya. Overall things are going very well at Amerisur and with crude well over $60 cash flow and revenues are good and there is still substantial upside potential from an exciting exploration programme

Agree drilling news will lift share price. Topping up daily as this is ridiculously undervalued at current price. I expect this to be well above 20p after 2017 results in April.

Agree this is good news. Still expect Amerisur to be trading over 30p in next 6 months.