Amerisur, President, RockRose

Amerisur Resources

Amerisur in an update this morning provides positive news from Chiritza where the re-pumping station is progressing ahead of schedule and on budget. The station is expected to be commissioned in September with access to a minimum daily carrying capacity of 9,000 bopd through the RODA system. As mentioned by me recently the Platanillo 22 workover has been successful with the cause being a severe degradation of the cement sheath. Once sorted the well was re completed is now producing approximately 360 bopd at a low pump rate with water cut declining. Expect careful treatment of Plat 22 as pump is increased and to manage the well judiciously .

Pintadillo-1 will use Rig D-10 once this work is completed and a further announcement will be made at spud, I'm not expecting any delay.

President Energy

Another upbeat report from PPC this morning where progress is continuing apace at Puesto Flores. The three well drilling programme is confirmed as ready to start in September and is funded from cash flow and expect to be increasing oil production by a minimum of 600 bopd.

2019 should see further development wells and two exploration wells which complement development drilling at Puesto Guardian and in Paraguay. Current production is 2,700 boepd and Group free positive cash flows from operations now running in excess of$2m per month. Upcoming results are expected to reflect this strong operational performance with more to come in the second half. Accordingly these shares are significantly undervalued, the market has not picked up on recent operational success.

RockRose Energy

A brief comment on RockRose this morning as they announce the acquisition of a 20.43% interest in the Arran field in the UK North Sea. The reason for brevity is that I will need to talk to the company as there is little or no detail with regards to costs etc in the statement although I am sure that it will have good economics. It adds 3,500 b/d of initial production and5.7m mmboe of 2P reserves to RockRose, more tomorrow .

Visit source site


MalcyMalcy'sMalcy's BlogAmerisur ResourcesPresident EnergyRockRose Energy

More items from malcy

Oil Price, Savannah, Range, Pantheon, and Finally…

WTI $45.88 -$2.29, Brent $54.35 -$2.89, Diff -$8.47 -$1.57, NG $3.58 -14c Oil Price Whether you call it a risk off moment after the Fed and others warned about the economy next year or just a supply worry that Opec+, ie Russia won't cut production next year the oil price retreated and will li ...

Malcolm Graham-Wood - Malcy's Blog

Posted 4 months agoOpinion > oil priceSavannah PetroleumSVP +6

Oil Price, Faroe, President, Range, Wentworth, and Finally…

WTI $47.20 +96c, Brent $57.24 +98c, Diff -$10.04 +2c, NG $3.73 -11c Oil Price A rally yesterday after a handy set of inventory numbers but oil is down again today after world markets did not like the rate rise from the Fed. The EIA announced a crude draw of around half a million barrels which ...

Malcolm Graham-Wood - Malcy's Blog

Posted 4 months agoOpinion > oil priceFaroe PetroleumPresident Energy +6

Oil Price, Reabold, Angus, IOG, and Finally…

WTI $46.24 -$3.64, Brent $56.26 -$3.35, Diff -$10.02 +29c, NG $3.84 Oil Price Another very bad day for oil yesterday and whilst news is still not good it is certainly not as bad as this price suggests. Today is Fed decision day and we are led to believe that another rise is on the cards but f ...

Malcolm Graham-Wood - Malcy's Blog

Posted 4 months agoOpinion > oil priceReabold ResourcesAngus Energy +6

Petrofac, President, IOG, Infrastrata, IGas, Cairn/Far, Aminex

Petrofac Trading update from PFC this morning, all in line with expectations, indeed I would venture that this is a pretty good update given where company has come from. The $5bn order intake is impressive giving a backlog of $10.2bn and with over $15bn of tenders out the outlook for 1H 2019 is ...

Malcolm Graham-Wood - Malcy's Blog

Posted 4 months agoOpinion > PetrofacPresident EnergyIOG +10

Oil Price, DGO, Block Energy, and Finally…

WTI $52.58 +$1.43, Brent $61.45 +1.30, Diff -$8.87 -13c, NG $4.12 -1c Oil Price It looks like the oil price will be roughly even on the week, today it is down a touch on the poor Chinese economic data but the better than expected inventory data from the API, EIA and Genscape have also shown s ...

Malcolm Graham-Wood - Malcy's Blog

Posted 4 months agoOpinion > MalcyMalcysMalcy's Blog +5
All posts from malcy