Amerisur Resources is rarely discussed on this forum but I thought that it at least merits a look. In summary, it is a well established Colombian focused oil producer with a strong, debt free, balance sheet. However, the real story lies beyond the crude financials. For starters, it has spent several years constructing a pipeline through flood prone and dangerous territory. This is now completed and operational. It has the capacity to transport 50000 BOPD. Moreover, this reduces its operational and transport costs to some $15 per barrel. With proven and probable reserves in excess of 23 mnbo, the sums are not difficult to do. In addition, it has a fully funded drilling programme in areas that it understands and where the potential upside is huge. The backdrop is a Colombia that appears to be moving into peaceful normalisation after a protracted civil war.

I hold the stock and I have recently added to my holding.

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