Amerisur Resources PLC Platanillo 24 Update (8998U)

TIDMAMER

RNS Number : 8998U

Amerisur Resources PLC

24 January 2017

24 January 2017

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

Platanillo 24 Update

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

Platanillo 24 has been tested and placed on commercial production at a rate of approximately 420 barrels of oil per day ("BOPD") in natural flow. An interval of 7ft was perforated in the Lower U sand only. Water cut is currently 0.1% with 80psi wellhead pressure through a 28/64" choke.

OBA volumes continue to increase, with current average daily throughput of 3,100 BOPD.

Subject to resolution of local social protests, the Company plans to mobilise the Serinco Rig D-10 to Pad 2N in order to drill the first appraisal well from that Pad, Platanillo 22.

John Wardle, Chief Executive Officer of Amerisur, commented:

"We are pleased with the result of Platanillo 24 and to have placed it onto commercial production and look forward to spudding Platanillo 22.

ENDS

Enquiries:

 
 Billy Clegg/Georgia         Tel: +44 (0)203 
  Edmonds                     757 4980 
 Camarco 
 Callum Stewart/Ashton       Tel: +44 (0)20 
 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 4,200 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. 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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January 24, 2017 02:00 ET (07:00 GMT)