Amerisur Resources PLC Operations Update (2483W)

TIDMAMER

RNS Number : 2483W

Amerisur Resources PLC

13 November 2017

13 November 2017

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

Operations Update

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide an update on operations in Colombia.

Platanillo Contract:

Platanillo-27, the 21(st) well of the Platanillo drilling campaign, has been spudded with rig Serinco D10 on Pad 2N. Drilling and logging are expected to take approximately 30 days to final prognosed TD of 9,618 ft. Platanillo-27 is an appraisal well designed to access the northern part of the accumulation discovered at Pad 2N by well Platanillo-22.

CPO-5 Contract:

The Operator informed the Company that the inspection visit to the Mariposa-1 location by Agencia Nacional de Hidrocarburos (ANH) was completed on 10 November. The long term test of Mariposa-1 is expected to begin shortly. A further announcement will be made in due course.

ENDS

Enquiries:

 
 Nick Harrison, CFO              Tel: +44 (0)330 
  Amerisur Resources              333 8246 
 Billy Clegg/Georgia Edmonds     Tel: +44 (0)203 
                                  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 Jackson     Tel: +44 (0)207 
 RBC Capital Markets              653 4000 
 
 
 

Competent person

Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 31 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

Inside Information

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.

Important notice

Forward looking statements and dates referenced in this announcement, in relation to Amerisur's production, development and exploration assets, are estimates and subject to change. Oil and gas operations are subject to varying inputs that may impact timing, including, inter alia, permitting; environmental regulation; changes to regulators and regulation; third party manufacturers and service providers, social issues and the weather. The Company's estimates of timing for forward looking operations are based on the best information it has to hand at the time, however these timings may change with little or no notice to the Company. The Company will update the market as and when it becomes aware of a material change to any of the operations or timings referenced in this announcement.

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 6,200 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. Additionally, the Company holds a 100% working interest in contract Put-9, 100% of Tacacho and 100% of Terecay acquired from Talisman and Pacific. These acquisitions have now been approved by ANH. It has a diverse portfolio of longer term exploration assets.

www.amerisurresources.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 13, 2017 02:00 ET (07:00 GMT)