Amerisur Resources PLC Monthly Production and OBA Throughput Update (6628P)

TIDMAMER

RNS Number : 6628P

Amerisur Resources PLC

04 September 2017

04 September 2017

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

Monthly Production and OBA Throughput Update

Millionth barrel exported through OBA during the month

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide unaudited production from the Platanillo Field and OBA throughput data for the month of August 2017 (the "Period").

Production

   --     Total production was 180,843 barrels of oil ("BO") during the Period. 
   --     Average daily production was 5,834 barrels of oil per day ("bopd") during the Period. 
   --     Peak daily production was 6,460 bopd during the Period. 

OBA Export

   --     Total export volume was 182,529 BO during the Period. 
   --     Average daily throughput was 5,888 bopd during the Period. 
   --     Peak daily throughput was 10,127 bopd during the Period. 
   --     1 millionth barrel exported through OBA during the Period. 

Negotiations with Petroamazonas EP in Ecuador to increase export volumes via the OBA are progressing well, which, together with systems optimisations, enabled the Company to achieve average daily OBA throughput during the month of in excess of 5,000bopd, peaking at over 10,000 bopd.

This 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. This 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.

John Wardle, Chief Executive Officer commented: "I am pleased with the increases through OBA we have achieved this month and look to further significant increases in both production and OBA throughput in the near future. Additionally, I am pleased to report that on August 22 the Company transported the 1 millionth barrel of Platanillo crude via the OBA system. Given the historic visit of Pope Francisco to Colombia from 5 September onwards it is possible that certain logistical constraints may occur. However, the Company has taken a series of measures to minimise the impact of these events."

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 the Platanillo field in southern 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 field, which is currently producing circa 6,300 BOPD. The Company has a strong position in the Putumayo basin and has a cluster of near term activity assets around the OBA export line including the Platanillo block, Put-8, Put-12 and Coati. A 40% working interest in contract Put-9, acquired from Talisman Colombia, 50.5% of Tacacho and 100% of Terecay acquired from Pacific are currently awaiting approval by ANH. It has a diverse portfolio of longer term exploration assets.

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

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September 04, 2017 02:00 ET (06:00 GMT)