Member Info for telegraphist50

From Malcy's blog - how does he know SOL 1 is at TD? (or have I missed it in the RNS?)

'At CPO-5 Sol-1 is at TD where logging operations are under way, after this the rig moves to drill the Indico-2 appraisal well so obviously not long to wait but no clues here'

Amerisur Resources
An update from AMER this morning which looks very positive but also alludes to more excitement to come. This is partly as the ANH has given formal approval to the Oxy farm-out which gives them 50%in four exploration blocks at a cost of $93m. This covers the exploration and appraisal programme for 2019-2021 including 2D and 3D seismic and 100% of a five well drilling programme. CEO John Wardle is clearly pleased to announce that work has already started on this programme.
Elsewhere, the Plat-26 infill well has been a success with the well producing 710 b/d from 46 feet of pay in the ‘U’ Sands, next stop is the sidetrack that is continuing on Plat-22. There is also good news in the production update which is currently at a perky 6,800 b/d bringing up the yearly average of 5,300 b/d. This includes the Plat-26 infill and CPO-5 production but not current exploration drilling.
At CPO-5 Sol-1 is at TD where logging operations are under way, after this the rig moves to drill the Indico-2 appraisal well so obviously not long to wait but no clues here. Amerisur is clearly firing on all cylinders and with third party crude through the OBA and the Oxy deal now starting to come into fruition the outlook is positive. A successful result at Sol would be good but appraisal of the existing discovery at Indico is also very important whilst the drilling at Platanillo is clearly having very meaningful results. All in all the company is set fair and the share price, like a number of others looks way too cheap.

Yep, I'm part way through the transfer from II to AJ Bell. So far it's been easy and their website is user friendly. There's a great feature where you can input the value of your portfolio and how many trades you anticipate doing a year and it will show you what your fees would be. The ISA 'standing charge' is £7.50 a quarter so £30 a year if you don't do any trades v II who now charge a minimum of £9.99 per month. The SIPP fees are 0.25% of the value of your portfolio, capped at £25 per quarter v Interactive Investor which is £10 per month. To be fair to II, they do offer a free trade each month so if you trade frequently, it may be reasonable value. I just don't trade much these days and prefer a flat fee. When I trade, I factor in the 'dealing costs' when I work out how much I made (or, in my case, lost!) when I've had a punt. No doubt a week after my transfer completes, AJ will put the fees up.....there's the gamble!...;)

I've done the same aerial - the fees at II are now a joke. As I've got an ISA & SIPP, I would now be paying close to £20 per month. I'm in the process of moving to AJ Bell - £7.50 a quarter and whilst there are cheaper out there, they are also offering £105 via TopCashback if you transfer in at least £10k portfolio value. So that'll cover the fees for a wee while

here not hear!

Appreciate the reply. I'm still hopeful hear and do read your posts along with others who are much better informed than me to try and re-evaluate my investment here. It's heavy going in a lot of E&Ps at the moment, SDX, SAVP, AMER being amongst them so any titbits offered are gratefully digested! ATB

When I suggested back in March that a Calao duster would hit the price, this is what you stated:

"Everything prior that is just setting us up for a fall!"

We've already had $93m OXY deal and Reserves upgrade and the price has not risen very much at all. Why would it fall on Calao-1x news?

The only reason I can see that the share price is not 22p+ now is down to Invesco, blackrock, henderson and all the other II's that decided to exit. That weight of selling has left its mark and it's taking an eternity to rebuild despite the good news from Indico-1 and OXY deal.

Logic says, that this will rise regardless of what Calao-1 delivers. It might dip on any duster news as traders do their thing but it will bounce back very fast as Pavo Real is the one to get excited about. If Calao-1 hits the spot then heaven help the punters on the sidelines as the ii's that have been selling are virtually cleared out which means when the volume of interest rises, the mm's just wont have the stock around to hand over to you... unless they entice a few sellers in the 22p level.

Ironically, CPO-5 could be massive but OXY's deal and subsequent drilling plans post seismics could blow CPO-5 away in terms of prospective resources.

AMER in 2020 could be doing 10kbopd production and drilling 6+ wells across shared OXY licence areas. And then there's PUT-8 and so on.

It's never ending 'stock equity porn' for voyeurs from here on.

Can I ask, what has changed for you so markedly since then that you are now calling 10p is Sol 1 is a duster?

I'm not sniping, it's just a very large about face when the facts you allude to in your March post above, are still all intact, ie OXY deal, and Pavo Real drill on CPO 5 still to come?

morning....good luck to those staying in....very disappointed with what's occurred here...I won't post here again as nothing worse than a (former) holder hanging around like a bad smell....ATB!

Well, we're now in the 'teens'. I'll bet those II's that took part in the placing at the start of the year are impressed! This is starting to get more than a tad worrying and in the absence of (positive) news, will continue to drift. Is AK going to go the same way as PW (over at SDX last week)?

Is it the red or blue truck (singular)?

company called Kibo Mining. I had a bit invested there for 2-3 years. Pretty much every quarter for all the time I was invested, they put out RNS' stating that their 'flagship project' (which was to be the building of a coal fired power station) would be signed off by the Tanzanian Government 'in the next quarter'. They also used the phrase that sign off was 'when not if' (where've I heard that before)? It never did get signed off.....here's hoping history doesn't repeat with regards to the 7E deal

the deal would be transformational for the company, they did mean in a good way - ie the SP going up - didn't they?!….;)

Hallelujah!....;)

Amerisur Resources
An AGM update from AMER this morning which one might have thought would result in slightly more than a measly 1.84% rise in the share price. Production is now 6,500 b/d above the top end of the 5-6/- b/d guidance with all areas of the portfolio delivering.

On the drilling front there is much activity, Plat-26 has spudded an infill well and completed workovers at Plat-2 and Plat-7 where both wells are producing U and T sands simultaneously. The next job here is to re-enter Plat-22 for a sidetrack to increase the productive potential of the well. Not content with all that, up at CPO-5 the Sol-1 exploration well spudded at the weekend and will be a fascinating look at that part of the acreage.

The first batch of third party crude has arrived and the target of 2/- b/d by 2H 2019 looks to be on track, another high margin revenue stream to add to the numbers is under way. Although the market has not yet taken all this news into account in my view the shares are way too cheap for a stock that exhibits such significant growth potential, either that or I am missing something…

He remains bullish. I wonder what it would take to change his mind?!

Clinging onto the 20's now, next stop the teens......will this deal ever close?!….2 years next month

I HEAR you GC, HEAR HEAR or as you might say, HERE HERE!....;)

Timed at 15:20 today?

I don't think he was courted as an ace or a failure based on those drills as that's the nature of exploration and ONGC are the operator for both of those recent outcomes. I think it's clear that something's not quite right here as the SP after a brief spike in January 2019 has failed to push on and has, in fact, lost nearly 40% since then. It is only a little over 20% higher than last November's 'low point' which was before the OXY deal and Indico discovery. I think the concerns are mainly: over promising / under delivering. That's a clear trait with the number of 'promised' drills over the last few years never actually (not even close) being delivered and with little commentary afterwards to explain why: BoD rewards not being aligned closely enough with SP performance. No-one can argue that SP performance has been poor over the last 3 years. You refer to patience - how long should the BoD be given (bearing in mind there are some people here who've held 3+ years already) to deliver decent returns to shareholders?

Fully year results will be? They were announced on 23rd of March last year for 2017 so well over 12 months now. I emailed the company last week but not had any reply!

For what it's worth!

https://www.malcysblog.com/