The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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.
Couple of blocks would be interesting to AMER around put and CPO-5
http://www.anh.gov.co/en-us/Asignacion-de-areas/Paginas/Mapa-de-tierras.aspx
map here http://www.anh.gov.co/en-us/Asignacion-de-areas/Documents/2m_tierras_Ingles_220219.pdf
Hope Oxy bid for the ones around Put rather than Amer
They refer to it here http://www.amerisurresources.com/images/rns-pdfs/Investor-Presentation-Feb-2019.pdf on page 18 as "Indico Upside-1X& 2"
Sol, seems quite far away
Lolz, who's being naive? This is aim ffs and has been going for years - it won't change.
One duster and all of sudden this board is full of posts about how bad our management are.
hold your nerve. Jeez, one duster and people turn to jelly.
Couldn't agree me more Jaggers, was going to post along the same lines
JW is doing a great job.
We've hit a duster, but they will learn from it.
But ....
We've got a VAT refund to cover recent PUT purchase
Plat numbers are a positive (massive positive for cash)
Prep for possible special div
Oba positive update
The herd is panicking, but all we have to do is nothing, and wait.
PP, " for dilution a couple of numpties coming up with a hair brained idea on a bulletin board is not necessarily indicative that the company is thinking the same way"
If somebody has a different view to yours it doesn't make them a "numpty". That was an arrogant comment.
I posted yesterday that "Possible funding issues coming up though" which Margaret then posted under the heading "Funding Issues" which freaked people out
We don't know how much cash they have currently and how much income they receive each month. There are big assumptions being made on this board and based on my calcs they are likely to have less cash than numbers given on this board - based on issues with plat, future commitments etc
And jtds just because a ceo says they won't raise cash doesn't mean they wont. He also said there would be no more acquisitions, btw
GC knows how to run a company and in my view, if the time is right, he'll do it. And I agree that's not a bad thing if it's for the development or to strengthen a negotiating position.
It's easy to look at the oil numbers and work each other up into a frenzy with billion dollar valuations.
I'll be keeping one eye on the oil and one eye on the cash.
GLA