Amerisur Resources PLC Monthly Production, OBA and Operational Update (9114A)

TIDMAMER

RNS Number : 9114A

Amerisur Resources PLC

04 January 2018

4 January 2018

Amerisur Resources Plc ("Amerisur" or the "Company")

Monthly Production, OBA Throughput and Operational Update

Successfully delivered 2017 exit rate in excess of 7,000 bopd

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide unaudited production from the Company's two producing fields, the Platanillo Field and the Mariposa-1 Long Term Test (LTT), and provide OBA throughput data for the month of December 2017 (the "Period").

Production

   --     Total production was 215,481 barrels of oil ("BO") during the Period. 

-- Average daily production was 6,971 barrels of oil per calendar day ("bopd") during the Period.

   --     Peak daily production was 7061 bopd during the Period. 
   --     2017 year-end exit rate production is in excess of 7,000 bopd. 

-- Average daily production in 2017 on a calendar day basis was 4,862 bopd, broadly in line with guidance of 5,000 bopd.

OBA Export

   --     Total export volume was 184,555 BO during the Period. 
   --     Average daily throughput was 6,152 BO during the Period. 
   --     Peak daily throughput was 7,045 BO during the Period. 

Platanillo

Production at Platanillo-25, the third well on Pad 2N, the northern extension of the Platanillo field has improved during the period as a result of careful management and is currently producing 218 bopd at low water cut. Platanillo-27, the fourth well on Pad 2N produced 115 bopd on test from a 12 feet section of net pay in the U Sand and has now been placed on production. Observed water cut on Platanillo-27 is higher than expected, and analysis of the produced water and cementation logs is underway.

CPO-5

Downhole pressure data from the ongoing Long Term Test of Mariposa-1 were retrieved during the last few days and analysis of that data has begun. The Operator and the Company will then decide on the parameters for the future development of the test, which may include a higher flow rate from this well. The LTT has continued to progress well, with a stable production over the last 30 days in excess of 3,000 bopd in natural flow over a 28/64" choke with 565 psi wellhead pressure and approximately 0.13% water cut.

These data will vary month on month as development, appraisal and exploration operations continue, and also due to the factors involved in operating in the Putumayo region of Colombia. These factors include inclement weather, social issues with drilling and oil transportation and planned and unplanned shut downs for technical works undertaken among others. The data has not yet been approved by the Colombian Agencia Nacional de Hidrocarburos (ANH) or national customs and tax authorities DIAN and may be subject to revision.

ENDS

Enquiries:

 
 Nick Harrison, CFO           Tel: +44 (0)330 
  Amerisur Resources           333 8246 
 Billy Clegg/Georgia          Tel: +44 (0)203 
  Edmonds                      757 4980 
 Camarco 
 Callum Stewart/Nicholas      Tel: +44 (0)20 
 Rhodes/Ashton Clanfield       7710 7600 
 Stifel Nicolaus Europe 
 Limited 
 
 Chris Sim/George Price       Tel: +44 (0)207 
                               597 4000 
 Investec 
 
 Darrell Uden/Marcus          Tel: +44 (0)207 
  Jackson                      653 4000 
  RBC Capital Markets 
 
 
 

Notes to editors

Amerisur Resources is an independent full-cycle oil and gas company focused on South America, with assets in Colombia and Paraguay and production from two fields in Colombia. In 2016 Amerisur successfully built and is 100% owner of the strategic OBA oil transfer line into Ecuador.

In Colombia, the Company is operator and has a 100% working interest in the Platanillo block which includes the Platanillo producing field in the Putumayo basin, and holds a 30% non-operated working interest in the CPO-5 block containing the Mariposa-1 producing field in the Llanos basin. Amerisur is currently producing in excess of 7,000 bopd.

Amerisur has a strong position in the Putumayo basin and has a cluster of near term activity assets around the OBA export line.

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

www.amerisurresources.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

UPDLFFFILSIVIIT

(END) Dow Jones Newswires

January 04, 2018 02:00 ET (07:00 GMT)