Member Info for Wait

Very interesting, on the 17th of July (two days before AMER for sale announcement), Parex annouced selling their Colombia assets including interests in LLA-32, LLA-34 and Cabrestero which are neighboring blocks to CPO-5

https://www.globenewswire.com/news-release/2018/07/17/1538656/0/en/Parex-to-Explore-Potential-Strategic-Repositioning.html

Clearly consolidation going on.

Anyone else miss this news yesterday at 14.28? Didn't get notified by investegate

...posts from Bays tonight

Credit to xxnjr on advfn for posting this:
"
Extremely useful Monthly Production Report by Field, from the horses mouth:-

hTTp://www.anh.gov.co/Operaciones-Regalias-y-Participaciones/Sistema-Integrado-de-Operaciones/Documents/Producción%20de%20Crudo%202019.xlsx

It's updated monthly, with a delay of about 6 to 8 wks.

Field performance of Mariposa and Indico both look robust so far.
"

This map is a good reminder for just how big, and how good a location CPO-5 is. CPO-5 is numbered 0193 on the map

http://www.anh.gov.co/en-us/Asignacion-de-areas/Documents/2m_tierras_Ingles_080719.pdf

Shows the trend line of producing fields (in red) in the llanos basin pointing towards CPO-5. Also shows CPO-5 in relation to the recently bought blocks in dark green.

Useful also to show how big the Indico structure alone is, compared to the size of the other blocks.

Big block in a great location. Just wish they brought in another rig or two

"You’re reading too much into it" - did you not see the word "perhaps"?
Could be technical issues, could be blending for third party oil. Nobody knows. If you want facts, stick to the RNS tab.

https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/07/Prod-Mensual-Fiscalizada-04-JULIO-2019.pdf

Two 5k + days in a row now. Perhaps they're blending 3rd party oil hence the drop, followed by higher volumes. This happened a few weeks ago too.

1.530 5.531 5.009

Parex have this interactive map of the LLanos basin https://vrify.com/embed/projects/263/sites/3291 which shows the river running through the basin and close to the north east where it meets their Cabrestero field. It does highlight how they are another partner as well as Geopark that would be keen to get CPO-5 and join their Cabrestero field with their CPO-11 block.

Parex presentations all show the fields stopping before the edge of the map
https://parexresources.com/wp-content/uploads/2018/09/Parex-Corporate-Presentation-2018_September-10-Update-1.pdf
Page 16 marks this white area as 'Potential Stratigraphic Edge' whether that means the fields stop there (and maybe why the blocks were divided up the way the were) or whether they don't want to show that seismic yet I'm not sure. They are drilling in that area though, so perhaps that says something.

While we're waiting for news I was doing some research and found that when google previewed this presentation Amerisur-Final-Results-Presentation-160418.pdf the preview image had some additional hand drawn lines with ?'s that extend from llanos 34. These are not visible in the pdf presentation, but are if you open the pdf in word.

https://imgur.com/ORWrX4E

No big reveal, but a quirk that shows their thinking last year. Some of the faults are identified on the latest presentation http://www.amerisurresources.com/images/rns-pdfs/AGM-Presentation-14-05-19.pdf

Wonder what they paid for those three blocks

Wonder what they board would accept after Indico 2 appraisal. $100m? Approx, half the market cap of the company. 5p dividend and concentrate on put.

Also a North West (GUATIQUIA) to Sol (South) set of faults.

See page 29 - 31 of http://www.fronteraenergy.ca/content/uploads/2019/02/FEC-190205-2017-Full-Presentation.pdf
(it took an age to download for me, but worth looking at). They are planning 10 wells in the Coralillo field which has similar characteristics (LS1, LS3) and is adjacent to the top left of CPO-5 - see page 10 of Amer presentation http://www.amerisurresources.com/images/rns-pdfs/AGM-Presentation-14-05-19.pdf . If you zoom in, you can see the faults identified in both presentations and Mariposa is updip to the Coralillo field.

Coralillo-1:

"In February 2018, the Company began drilling the Coralillo-1 exploratory well on the Guatiquia block, which reached total depth of 13,240 feet (11,573 feet TVD) on March 27, 2018. The well encountered 13 feet of net pay in the Guadalupe formation, and 15 feet of net pay in the Lower Sand-1A formation. The well was completed in the Guadalupe and Lower Sand-1A formations with a selective completion and electrical submersible pump. The Lower Sand-1A formation has been flow tested for approximately 10 days at an average rate of 1,050 bbl/d of 15.3 degree API oil with an average water cut of 1% at stabilized bottomhole flowing pressure with a 60% drawdown. The well is currently shut-in for a pressure buildup test on the Lower Sand-1A formation. During the testing period, the well produced a total of 9,200 bbls of oil."

https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/06/Prod-Mensual-Fiscalizada-27-JUNIO-2019.pdf

1.573, 6.182, 3.927, 3.815, 4.209, 4.321

seems to be ramping back up to the 4,500 level again after inconsistent spell. Could be blending 3rd party oil with ours in batch.

https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/06/Prod-Mensual-Fiscalizada-24-JUNIO-2019.pdf

Well, after two weeks of static production, we have big variations 1.573, 6.182, 3.927.

~4500 level for 12 days running now

https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/06/Prod-Mensual-Fiscalizada-17-JUNIO-2019.pdf

Rossanan, re-read what I wrote - I didn't say there was a cash profit. It's cash neutral as the RNS states, but it would have been cash negative if we hadn't of sold to OXY

Great news! They buy it for $19.1m and then sell 50% a few months later for $19.1m and retain operator status. Another good deal that adds to cash. Wonder how involved Oxy were from the start.

Yet another 4510 day

https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/06/Prod-Mensual-Fiscalizada-12-JUNIO-2019.pdf

... makes 3 days in a row now exporting exactly 4510.

https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/06/Prod-Mensual-Fiscalizada-11-JUNIO-2019.pdf

Maintained at 4,510 over past few days

https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/06/Prod-Mensual-Fiscalizada-10-JUNIO-2019.pdf

Good volume today
https://www.controlhidrocarburos.gob.ec/wp-content/uploads/2019/06/Prod-Mensual-Fiscalizada-04-JUNIO-2019.pdf

We can't say whether the rise is due to drill result, treatment or 3rd party oil.

As they didn't update us on spud of the latest plat drill, they might not deem it material enough to update on result - even if good.