Member Info for telegraphist50

Thanks to Trek's logic (which makes perfect sense), I've had another 50k (shares) @ 9.72p. Obviously wish I'd bought more at the recent low of 12p but more confident buying more now that MC has been granted. Onwards & upwards!

What a relief!....:)

F458 - 'I diffidently would't want without share at this price'

And again, in English please....;)

Yes, I think back to a more comfortably 23 or 24. 33 yesterday was far too hot!....;)

And the rest....

THE regional policy for the development of hydrocarbons of the ESAE comes at the right time when the Government of the Republic of Niger has just adopted a National Oil Policy. "As for the document on the Regional Space Supply Facilitation Program, it is in perfect correlation with our actons," he said, adding that several reforms are under way and structuring projects are under way. implemented in Niger to address infrastructure and supply problems since the country became an oil producer. "So we have a production capacity refinery of 20,000 barrels per day. One of our challenges is precisely the delivery of crude oil and refined products," said Mr. Foumakoye.

In addition, the project to build a 1980km pipeline, including 1293 in Niger and 678km in Benin to transport crude for export. There is also the project to build a 1076km multi-product pipeline from SORAZ (refinery) to the border of Burkina Faso through major consumption centers in the interior of the country and a 115km branch line to supply the Tahoua depot

No need to speak any language with google translate!

Benin government approves negotiations with Chinese company on Niger-Benin export pipeline project
19 July 2019
Extract:
'.... 'These structuring investments will make Benin a hub for crude oil exports while strengthening the operational capacity of Benin's oil sector players,"" the source said.
The next phase of the process, the same source points out, is the signing of the agreement with the West African Oil Pipeline Benin Company (WAPCO Benin), a beninese company, created to build, operate and maintain the Benin transport, to form with the Nigerian transport system, an integrated pipeline system from Niger and crossing the territory of Benin to its coast.'

If anyone cares:
https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/07/Prod-Mensual-Fiscalizada-22-JULIO-2019.pdf
Does anyone know why it fluctuates quite so much these days? 2929 on 18/7/19 then 5193 the next day. Seems to have done that a bit of late.

I agree re the probably placing and price. It's ironic that by trying to squeeze every drop of value out of the deal, which has caused much of the delay in getting it done, a placing at 10p (or lower) would dilute the gains that the 'tweaks' to the deal were supposed to bring. Something must be going on in the background, I can't believe that SAVP are just hunkering down, awaiting sign off. With the cabinet list still not done (as far as we know) and the 2 month recess due to start next week, it could well be the end of the year before MC is granted.

And there's the rub PC. Credibility issue here, as I see it. SAVP having confidence they can sort finance to keep going, it's the same lot who were 'highly confident' of getting the 7E deal put to bed months ago. It's a bit of a shambles really and I really have no idea how it will play out. Not heard or seen much of AK lately, surely, he must be 'concerned' particularly with his relationship with IIs', many of whom stumped up millions at 28p in January 2019?

what's the significance of yesterday's OBA output being over 5000 as 5531 & 5009 were recorded at the start of July?

I thought ONGC were the operator here which means announcing result of tests etc is outside of AMER's hands or am I missing something?

but, as the risk of repeating myself, the lower it goes, even if/when the 7E deal is done/dusted, the SP will have to soar to have made it, in the words of SAVPs' chairman recently, "worth the wait". This has already been a 2 year wait and the SP has more than halved since the deal was first conceived! There's a very real possibility that if the deal ever does complete, the SP will 'jump' up to a price lower than the 40p (ish) it was 2 years ago

Well, this is now starting to get a tad worrying!.....will the company say/do anything or is it just a batten down the hatches job?

And even the lipstick needs a re-touch!....rant definitely over now....;)

which is all well & good and thanks for the information PC, however, the lower it goes, the more lth's have to see an ever more sizeable increase to get back to the position they were in 2 or 3 years ago. At 15.5 to sell, it nearly has to treble just to get slightly ahead of where it was pre mention of this deal. The recent RNS was basically saying it would be 'worth the wait', time will tell but I fear it will only be people buying now who will see a decent return. At the minute, it's a pig with lipstick on, rant over!

It gets worse by the day, how low will it go is anyone's guess

I think the company will be much more focused on keeping IIs' on board than worrying about us 'little' PIs'. God help the SP if any of the IIs' start selling. Funny thing is, I was miffed when they did a placing at 28p in January. Oh how happy would I be for them to do one now at that price!

As I've mentioned before, I think SAVP have placed far too much credence on whoever's ear they have within the 'corridors of power'. If you look back at previous RNS' going back many months, they've been confident of sign off in Q3 2018, Q4 2018, Q1 2019 & and now, Q2 2019 (the end of which, looms large) IMO, if it's possible, SAVP should publish exactly what 'things' are still outstanding as the only definite one we know is outstanding is granting of Ministerial Consent. The rest, which could be 1 or 101 'things' are hidden under the term 'Transaction Workstreams' which continue to make 'good progress'. I do wonder what they will say on Friday (on the presumption that Ministerial Consent hasn't been granted by then), as it's also the day of the AGM, so surely at the very least they'll release something. Oh to be a fly on the wall of SAVP HQ right now!

That may be some comfort to those buying in now (presuming the deal completes at some point in time) but it's little consolation to those who've been in for a while. The inescapable fact is if you invested prior to suspension in June 2017, when the SP was in the high 30's (and maybe even touched the 40's), the SP has to double from here to put you back in the same financial position you were before this so called 'transformational deal'. I don't think anyone could argue that the 'spin' from SAVP since 2017 with regards the 7E deal completing has been, at best, over optimistic, at worst, I'm not sure I could put it in print!

As ever, he's still positive...

Amerisur Resources

Two announcements from AMER this morning with the result from the Sol-1 well of most interest. With logging complete, 26.5 feet of net oil pay in the LS3 and 10.5 feet of net oil pay in the LS1 sands of the Une formation were identified and short term testing operations are now underway. Whilst the find seems ‘smaller than previous discoveries it demonstrates potential for further prospectivity across CPO-5’ according to CEO John Wardle who I’m sure will be able to announce an oil discovery after testing. Right now the rig moves to Indico-2 for the appraisal well with the aim of further confirmation of the resources on this prolific block.

The company also announced that it had disposed of 50% of its interest in the PUT-8 exploration licence to Occidental for $19.1m. This was acquired under rights of first refusal when the Vetra deal was done in March and while AMER keep the operatorship they pass on the stake at cost to new partners at Oxy. A very sensible move which boosts their cash balance and keeps them on an even footing with Oxy in the upcoming drilling programme. All in all Amerisur shareholders should be very happy with the way things are going operationally for the company and I expect this to continue for the foreseeable future.