On April 9, Amerisur Resources (ASUXF), a Colombia-focused small-cap E&P company, published its 2018 final results. Despite a plenitude of improvements that could shore up investor sentiment, there were a few bitter disappointments. First and foremost, the company delivered considerable production and 1P & 2P reserves growth; production climbed ~10% from 4,857 to 5,356 bopd. Drilling successes at Indico-1X on CPO-5 block in December 2018 bolstered 2P reserves; I should note that the 2P reserves replacement ratio of 343% is the figure any energy investor would be pleased to see in an