Opinion

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

https://malcysblog.com/2018/08/amerisur-president-...

MalcyMalcy'sMalcy's BlogAmerisur ResourcesPresident EnergyRockRose Energy

More items from malcy


Range Resources, Genel, Wentworth, Trinity

Range Resources A Trinidad operations update from Range this morning which details the infrastructure upgrade which is part of the ongoing modernisation activities at the Beach Marcelle field which is what they raised the money for last month. The upgrades were needed to provide a greater resili ...

Malcolm Graham-Wood - Malcy's Blog


Posted 9 hours agoOpinion > Trinity E&PTrinity Exploration & ProductionRange Resources +5

Oil Price, Savannah, Upland, RockRose, Bahamas Petroleum, and Finally…

WTI $67.04 -16c, Brent $72.46 -15c, Diff -$5.42 +1c, NG $2.96 +3c Oil Price After a quiet start to the week which I'm told livened up on Monday it has been another up and down week. Yesterday as I reported the market started by rising then with dollar strength and further aggro from Turkey it ...

Malcolm Graham-Wood - Malcy's Blog


Posted 1 day agoOpinion > MalcyMalcy'sMalcy's Blog +6

Oil Price, Faroe Petroleum, Touchstone Exploration, and Finally…

WTI $67.20 -43c, Brent $72.61 -20c, Diff -$5.41 +23c, NG $2.93 -1c Oil Price A quiet day on oil bourses yesterday with talk about Turkey causing most concern with the currency smashed even more. Marcus Ashworth at Bloomberg is worth following on this as he has a top view from the bond markets ...

Malcolm Graham-Wood - Malcy's Blog


Posted 2 days agoOpinion > oil priceFaroe PetroleumTouchstone Exploration +4

Oil Price, Echo Energy, President Energy, Sound Energy, Zenith Energy, Reabold Resources, United Oil & Gas, and Finally…

WTI $67.73 +82c, Brent $72.81 +74c, Diff -$5.18 -8c, NG $2.94 -1c Oil Price Last week WTI fell a modest 76c and Brent 40c with the EIA inventory stats causing most grief. With a strong dollar and US/Sino and US/Turkish trade wars hotting up downward pressure was exerted but attacks by and on ...

Malcolm Graham-Wood - Malcy's Blog


Posted 3 days agoOpinion > MalcyMalcy'sMalcy's Blog +8

Oil Price, DGO, Wentworth Resources, Empyrean, and Finally…

WTI $66.81 -13c, Brent $72.07 -21c, Diff -$5.26 +8c, NG $2.95 +1c Oil Price I suppose it could have been worse, after a perky start crude oil trended down and this morning that trend has continued. As usual a combination of factors had oil on the run late in the day, a stronger dollar didn't ...

Malcolm Graham-Wood - Malcy's Blog


Posted 6 days agoOpinion > oil priceDGODiversified Gas & Oil +5
All posts from malcy