Member Info for Wait

There's some interesting info on CPO-4 here
https://www.sec.gov/Archives/edgar/data/1156041/000114036112016884/ex99_1.htm

Pages 31 show the different formations and track the same line I believe Yatay - Mariposa - Indico - Sol

Page 32 is also interesting.

Yatay 43 deg, 117 net feet
Mariposa 40 deg, 120 net feet
Indico 36 deg, 209 net feet
Sol ?

I seem to remember AMER used to be a leaky ship before news, but that wasn't the case at the time of the Occi deal or the Indico result. Fair play to them.

After watching the interviews between Malcy and GC
https://youtu.be/y-0arjR3lHk?t=445 and Malcy and JW
https://youtu.be/oeIoXUJErhM?t=475

their reaction would indicate they would sell the minority stake in CPO-5 and concentrate on own wells. Can see this happening this year.

Next year is when we get taken out by Occi after doing their bidding - imo

Wanted to arrive at a reasonable estimate for CPO-5 based on what we know. I understand the potential is far far greater but want a reasonable estimate.

http://amerisurresources.com/images/rns-pdfs/AGM-Presentation-15-05-18.pdf

Based on Page 14:
Prospective MMBO 40.58 - net to amerisur, mid estimate.

Page 15 Aguila
Minimum mapped closure = ±4.1 mmbo recoverable
Potential closure = 20+ mmbo recoverable

It would not be unreasonable to say the results have been above estimates, so say (conservatively) 60mmbo prospective for the targeted structures at that time. Add in Calao (between 2 and 7mmbo) and Pavo Real (between 2 and 23) say 15mmbo to make a total conservative 75mmbo net to amerisur.

Apply a 50% recovery (?) because these are prospective resources makes 37.5mmbo

I see Geopark applied NPV value of over $8 per reserves, but they've spent more already on infrastructure so (guessing) say $5 per barrel ITG price

Gives a conservative figure of $187.5m. or £146m or 0.12p per share.

Am I right to apply 50% recovery factory and $5 in the ground price?

Ah yes, I stand corrected $6m for *three* wells. Thanks for pointing that out BigBiteNow.

Indico cost Amer $6m (net). We are adding four more drills (which will cost less per drill - say $3m each) and possibly Sol. Also, plans for more seismic on CPO-5, and other activities on other blocks. Is the reason the activities dried up last year, because they wanted to preserve cash? Or, at least not be in a position of weakness for ONGC sale negotiations? Without the Occi deal that was only completed late last year, we had a significant outlay planned.

Thinking, on back of CPO-5 they could easily raise funds through equity or debt. Any thoughts on if this was the reason, activities were paused last year?

a few more details in this article:
https://www.cnbctv18.com/energy/ongc-videsh-makes-oil-discovery-in-colombia-1874541.htm

"During tests, the well flowed at a self-flow rate of about 4,000 barrels of oil per day."Currently, the well is under Short-Term Testing with multi-bean study for further evaluation," it said."

"The company now plans to drill more exploratory wells to chase this important Cretaceous clastic corridor in immediate future."

Thanks JTDs.

Also interesting is on page 15 they describe the Tua field as "Type trap: Combined (Structural + Stratigraphic)"

In the RNS as you posted AMER refer to *combination* trapping for the first time "Given the potential for combination trapping, the Company believes potential resources may be significantly higher". Indicating that this may be similar, or extension.

Ocean, am starting to believe too. The LS3 is also the same as the giant oil fields to the NE of our block

I posted this on ADVN this morning.

I know I keep banging on about it, but this webcast is really worth a listen especially given yesterdays news.

http://webcasting.brrmedia.co.uk/broadcast/5af56ddbb8283f1e00f55185

He's presenting this presentation:
http://amerisurresources.com/images/rns-pdfs/AGM-Presentation-15-05-18.pdf

Page 16 - He describes the oil field to the north east (not on our block) as "Most important field in the last 25 years - it's simply massive". Note: It produces from the lower sands 3. The hypothesis is that the red fault lines extend into our block.

He then describes "As they drilled the bumps along there , they eventually came to understand that this thing *was all connected* and it was one *simple field*. that field has produced 50 million barrels to date and still only 2/3 developed... What we've asked ourselves for a while is why haven't we been drilling wells in here. The fact is our 3D seizmic here just kinda misses this fault section here and our 3D bit in the south, it does catch these trends but only on the corner and these structures are very subtle..."

They are now drilling between Indico and Aguila where "at Calao of between 2 and 7 mmbo. However, given the results at Indico-1, which indicate the potential for combination trapping, the Company believes potential resources may be significantly higher". As I said yesterday On page 15 there doesn't appear to be an obvious 'hump' trap to aim at - the bright green section?

It seems to me that they are drilling the gaps "between the bumps" to understand if this thing *is all connected* and it is one *simple field*.

BH, I agree. I think we'll do OXY's bidding and get taken out after we hoover up other blocks in a year or so. Will see if they prioritise drilling or more purchases.