Amerisur Resources AMER 1

Amerisur Resources (AMER.L) has provided another production update as the company announced a total oil production of almost 200,000 barrels in October, resulting in an average production rate of 6,172 barrels of oil per day and a peak production rate of almost 7,400 barrels per  day.

The current production rate is slightly over 6,000 barrels per day, but as Amerisur has announced the arrival of the third export pump at Platanillo, it should be feasible to indeed end the year with an exit rate of in excess of 7,000 barrels of oil per day. Also keep in mind that Colombian oil prices are usually based on Brent prices, and the Brent oil price has consistently been trading over $60 per barrel lately. Even after applying the usual discount (which could be as high as $12-14/barrel), Amerisur’s Q4 financials should be pretty decent!

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The author has no position in Amerisur Resources. Please read the disclaimer




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