Sharesure
- 30 Jun 2007 18:48
Amerisur Resources is exploring for oil and gas in South America, currently in Colombia and later it plans to exploit its licences in Paraguay. It has a new Board of Directors and following a recent Placing at 6p (250m shares) sufficient cash to see through its current drilling plans and carry out some further corporate asset improvement opportunities.
Valuation of Amerisur Resources : 'Rule of Thumb' based on c.800m shares and using 10% DCF on oil at $70/barrel is 0.75p on the sp for every 1m barrels (CHP's share) that is proved in the ground.
Amerisur (formerly Chaco Resources) now has two exploration blocks in Colombia which it is currently evaluating and preparing to drill, one of these in the last quarter of 2007. It has also applied for further blocks in Colombia which are also believed to offer near term production. It also has three substantial areas in Paraguay and is awaiting news on a fourth. The next six months (May-November 2008) should see a steady news flow as it establishes the companys transformation from being an exploration company to becoming a significant oil production company. Set out below are some of the milestones which should produce announcements and have a positive effect on the share price. Any potential reserves are quoted in recoverable oil assets.
Platinillo, Colombia :
100% interest in a field currently assessed at holding 38.1m barrels of light sweet crude oil. Previously this a well flowed at 533 b/d before it was capped.Modern extraction methods may achieve up to double this output/well. Drilling completed for assessment and details of reserve figures and resumption of production daily figures awaited at Dec.2009. (Some guessestimates suggest the field might contain as much as 70m-100m barrels.)
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Tigra/Fenix block
100%% Further 3D seismic is completed; previous drilling has resulted in 30,000 barrels of oil from this block. Other blocks nearby in the Magdalena basin have also produced well. Drilled 11/2009; optimistic RNS (17 leads to follow)but reserve figures awaited
RNS :Expect further news on this block imminently and maybe a JV or other arrangement to speed up the timescale to production
Additional blocks to be announced
New local management team, in particular the CEO, is reputed to have some excellent contacts which will bring some high quality blocks to Amerisur in the coming months.
Curupayty Block, Paraguay :
1.39m hectares in north, close to Bolivia. Two wells previously drilled and both showed oil.
RNS : Expect JV with larger producer.
San Pedro Block, Paraguay :
1m hectares in south-east. Previous drilling showed oil.
RNS : Expect JV with larger producer.
Parana Basin, Paraguay :
Canindeyu block covering 1,789,000 hectares. Bordering Brazil. Oil field on Brazilian side already drilled. Chaco also expect to find oil and, at a deeper level, considerable quantities of gas. Chaco has obtained valuable historic seismic for re-evaluation.
RNS : Presidential Decree received 2/11/06.. Petrobras has announced its intention to increase substantially its effort to exploit Paraguay's hydrocarbons and has announced a farm-in on CDS's adjacent block. Possibility that they or another major will do likewise with Amerisur
Corporate Activity : The new Chairman is believed to have been brought on board to prove some or all of the existing Colombian assets and get these oil producing, arrange a JV on the Paraguayan assets before negotiating a sale of the company as consolidation of explorers in the region continues. An exit sp north of 1.00 over the next 12 months might be a reasonable target provided the drilling programme lives up to expectations, the price of oil remains at/above current levels and an approach is made for the company.
tudwick
- 06 Aug 2009 08:50
- 1343 of 3289
Thanks for that, always helpful hearing view of other holders who attended, seeing as I couldn't make the AGM myself.
2517GEORGE
- 06 Aug 2009 12:26
- 1344 of 3289
Yes thanks for that ML, I like many long term holders get dis-illusioned because of the time frame and every so often think it's time to sell, so far I have resisted and the above posts reaffirm the view that patience will ultimately be rewarded.
2517
capetown
- 06 Aug 2009 12:55
- 1345 of 3289
SAME HERE,many thanks,i wonder how we would feel if we sold and it did a GKP the next day.
2517GEORGE
- 06 Aug 2009 13:02
- 1346 of 3289
If only all my oil minnows did a GKP, thankfully I am in them at <11p but will continue holding.
2517
capetown
- 06 Aug 2009 13:42
- 1347 of 3289
Good on you 2517,not the case here.
Balerboy
- 06 Aug 2009 13:49
- 1348 of 3289
Sold half GKP at 28p very nice..
2517GEORGE
- 06 Aug 2009 15:15
- 1349 of 3289
Profits being taken in GKP atm, understandable, well done bb, I have high hopes that PRL will make me a mint as well. Sorry it's off thread.
2517
Beau62
- 11 Aug 2009 08:33
- 1350 of 3289
Two plops already. Clearly the post AGM period is a rude awakening and all the misleading lies and garbage is taking its toll.
Let's wait for the ironmans thread on the dark side to produce the usual complete and utter bull: -
- a great buying opportunity, erm, for the umpteenth time;
- must be a large buy being manoevred onto the market;
- real spread is 3.25/3.25 and all the trades yesterday and today are buys because every man and his dog is still topping up;
- excecllent news waiting to be released this week, or will it turn out to be next week, or next month, on next quarter.........
YAWN.
Even more funnier is the claim by the ironman to be holding an average of 2.5p yet he's ramped like duck since at least the 6p+ days. One can only conclude that he either pumped and dumped or we can expect a 3% RNS as he must hold millions to average down from the 6p and beyond period. No wonder its desperation stakes and he stamps on anything remotely negative.
Absolutely priceless.
blackdown
- 11 Aug 2009 09:08
- 1351 of 3289
It's fun being provocative.
aldwickk
- 11 Aug 2009 11:09
- 1352 of 3289
No word from Sharsure , does he still hold these ?
2517GEORGE
- 11 Aug 2009 11:51
- 1353 of 3289
Sharesure was very pro AMER but like the rest of us he (according to his posts over recent months) has become disillusioned with them. I know I have but I still hold.
2517
blackdown
- 11 Aug 2009 17:41
- 1354 of 3289
Presumably if you still hold, then you believe that - at some point - the share price will rise. I can never understand why those who are disillusioned don't sell up and reinvest their money somewhere where they think they stand a better chance of success.
2517GEORGE
- 11 Aug 2009 18:11
- 1355 of 3289
Hence the saying 'There's nowt so queer as folk'
2517
Moneylender
- 12 Aug 2009 00:37
- 1356 of 3289
The Pdf presentation is now on the Amer website.
http://www.amerisurresources.com/Amerisur_AGM_presentation_05-08-09.pdf
Beau62
- 12 Aug 2009 08:43
- 1357 of 3289
blackdown
Not as funny as reading the continual garbage on the dark side, mostly lies and illegal ramps, perpetuating over long periods, going from hectic activity on a thread from the desperate holders as an opening coincides with a small spike to long periods of silence as the sp drifts back, inevitably on the disappointment or non-event, then the red faced wallies tip up and rally to begin it all over again. Check the chart and the volume, then any news statements for that period, speaks volumes.
I recall getting slated when I questioned the 12p (or whatever unrealistic figure given a couple of months ago) by Sept nonsense. Rather amusing dont you think, yet few at the time dared to question it, preferring to back slap and massage the ego of the owner of the statement. Pretty much sums up these ridiculous free bb's that pretty much delivers 99.9% horse poo from an informational, honest and realistic perspective. Yet thousands rely on it, and many of them get sucked in.
This share has only ever been about hype by those calling themselves experts or pretending to be on first name terms with the Board. Each time the guff fails to materialse the very organised defence becomes a stronghold of war cries spouting "hey guys, its only ever been a long term investment, this time next year" and countless other classics as if to justify the ongoing malaise, constant disappointment, lack of communication and seemingly indolent progress.
It certainly has been a long term investment, it has taken 3 years at least to get Plat to this stage, still not producing, 3 years to still be waiting for these near term revenues Clarke boasted of, 3 years and still devoid of real information with regards to operational progress (except an update around AGM time) and reserve quantities that actually states it how it is.
Most disguise their unhappiness and desperation with attacks on people who counter the nonsense, question the company's performance and attempts to balance the rose tinted brigade's drivel. The thing that is most worrying for me is that there are those who never fail to support those ultra optimists (being kind) who continue to spout unrealeastic claims that fail to materialise only for them to return to repeat the process all over again, with impunity and increased respect. Never fails to amaze me that folk are so trusting.
A professional outfit, in my book, should be advising its stakeholders of specific, measurable, achievable, realistic and time related objectives. The old classic SMART management technique. Those objectives, when complete, should be communicated professionally and the process should start all over again. Sadly for me, this shower dont know their botty from their brain.......the AGM demonstrates that little changes from year to year and shareholders merely take on the chin all the nonsense, nods and winks etc that pretty much attempts to justify the hundred reasons why their status as producer is still to be achieved.
So me, provocative, no mate. Realistic.
AIMHO naturally.
Back in a week or so.
Beau
Sharesure
- 12 Aug 2009 09:20
- 1358 of 3289
Aldwyickk & others,
I do still hold these and will possibly buy more over the coming months but that is not necessarily a measure of confidence in the stock which I would expect anyone to draw a conclusion on since I know no more, and maybe even less, about these than some others these days. Like a lot of people I think that I have heard enough bull from certain quarters to last me a long time - most frequently forced unfolding of positions causing weakness in the sp and also well-connected GC people mopping these up. Doubt much of that is true. I still hold a reasonable amount of this stock and if it strikes oil in the Fenix area in the 3rd or 4th qtr I will be pleased. If it does a JV with a major on Paraguay that should also be helpful.
On Paraguay one has to wonder why, if so many wells have produced such good results over the last 50 years, firstly, why even more have not been drilled and secondly, why they have yet to get an oil industry established. After all we have had several oil price spikes during that half century. It cannot all be down to bureaucracy, can it? At least with Colombia one can understand that political instability and the threat of being taken hostage or worse (hopefully in the past now on the former and much reduced in the latter) will mean that we can now make progress.
magicmick
- 12 Aug 2009 10:54
- 1359 of 3289
Beau62 this is probably the best statement anyone has ever made on this site i agree with you entirely
tudwick
- 12 Aug 2009 11:31
- 1360 of 3289
Having held these since early Chaco days with high expectations one day, I also share magicmick's sentiments about Beau62's comments, great summary, sadly.
Mind you, I still hold, but that's mainly as I'm sitting on such huge losses at present.
blackdown
- 12 Aug 2009 17:24
- 1361 of 3289
Beau,
I totally agree with a lot of what you say. Anybody who buys/sells based on their reading of BBs needs their head testing. But I don't subscribe to the philiosophy of some posters who trash stocks for the sake of it, and often with little or no knowledge of the company they have taken against.
Unfortunately for this stock, the price got way ahead of itself under the previous management, which seemed to leak 'news' that turned out to be non-news. The current team appears to be much more savvy; however, the speed at which it can deliver is heavily influenced by the local bureaucracies and working practices. Whatever its faults, you can't blame the management for this.
It's been a long haul and it is understandable that many have sold out along the way. In my opinion though, there is a much better chance of achieving a worthwhile return over the next year or so, now that the company has created a sustainable business model, which should enable it to prospect further without tapping shareholders for additional funds.
Moneylender
- 12 Aug 2009 23:37
- 1362 of 3289
Beau, you should have come to Cardiff last week.
Firstly it would hgave been good to have a beer and
secondly you could have had a chance to question the
boys themselves. I did and am really happy, we will
be producing this year and will be cash positve. We
will have 6m in the bank and a well in Fenix, wet or dry!!!
From here on in we can only grow, where is the risk?
You know I was extremly negative last year but in fairness I see
very little down side from here, even with a duster at Fenix!!!!
M